Telling the right story: climate action makes economic sense.
The Paris Agreement on climate change marks the promising beginning of a long journey. We can help ensure its success if we realise that climate action presents great opportunities to grow the economy sustainably.
Up to 90% of climate actions needed to stay below 2°C warming are compatible with economic development and with improving living standards. Many of these investments are profitable even without considering their benefits for the climate. For example, the health benefits of reducing air pollution in cities by shifting from cars to buses and bicycles are huge.
If we do not put an adequate price on carbon, we are effectively subsidizing and locking in the use of fossil fuels and other carbon-intensive resources and processes - at great cost to communities, the environment, and the economy. Comparing the costs and all benefits shows: climate action is an imperative because it makes economic sense.
Climate diplomacy can catalyse the climate economy.
Catalysing the climate economy will be at the heart of climate diplomacy in the years to come. Climate diplomacy can accelerate action around the world.
We need to highlight opportunities of the climate action across sectors - be it in ministries for economy, finance, transport, energy and agriculture, or, of course, in the business community.
Using cross-sectoral convening power and bilateral relations, diplomats can promote a better understanding of these opportunities beyond the environmental policy community. By sharing best practices and lessons learnt, more effective policies can be developed.
Finally, diplomats can scope and facilitate bilateral cooperative actions - such as improving the investment climate or promoting joint research and innovation.
All of these help build momentum to drive the climate economy and pave the way for more ambitious climate action.
Download the complete infographic to find out more about the cascading benefits of climate action.