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Growing green: the economic benefits of climate action

The economic impacts of climate change already threaten development gains; unchecked emissions will come at rising economic cost and increasing risk to individuals. This report argues that there is a clear case for all economies to move to a low carbon growth path, but climate action has, so far, been inadequate, especially in Eastern Europe and Central Asia (ECA). It identifies the actions that governments in the region can take to reduce the carbon footprints of their economies. It shows that many of these actions will more than pay for themselves and quite quickly considering the many indirect benefits. The report finds that in order to realise these benefits, policymakers in ECA need to quickly move on three sets of priorities: use energy much more efficiently, gradually move to cleaner energy sources, and increase carbon capture in soils and forests. This will require transformations in power generation, industrial production, mobility, city living, farming and forestry.