There is a growing realization about economic costs and risks of climate change being underplayed. If unchecked, climate change could displace hundreds of millions of people, mostly in the developing world. Carbon-intensive economies depend on jobs that would become obsolete in the future by policies aimed at reducing greenhouse and boosting climate change efforts. Jobs and incomes will be lost, driving many into poverty, and the longer decarbonization is delayed, the more disorderly future shocks will be. Thanks to technological advances, the cost of renewable energy is declining, making it increasingly competitive with fossil fuels. Moreover, there is mounting evidence that decarbonization does not hamper growth, development, and jobs but instead offers a path to more inclusive, resilient, and sustainable growth; indeed, it can “unlock the inclusive growth story of the 21st century. Read more