Tackling climate change ‘is affordable’

Protecting the environment and fighting climate change could slow world growth by a mere 0.03% a year, Reuters reported the Organisation for Economic Cooperation and Development (OECD) as saying on Wednesday.

But the 30-nation group of rich democracies said urgent action was needed to avert irreversible damage.

Environmental safeguards would mean that by 2030 the global economy would be 97% bigger than in 2005, instead of almost 99% larger with no measures, the report said.

"This is not a lot to pay," Angel Gurria, head of the OECD, was quoted as saying. "The consequences and costs of inaction…would be much

See full story