Delaying climate policy would triple short-term mitigation costs

Further delay in the implementation of comprehensive international climate policies could substantially increase the short-term costs of climate change mitigation. Global economic growth would be cut back by up to 7 percent within the first decade after climate policy implementation if the current international stalemate is continued until 2030 -- compared to 2 percent if a climate agreement is reached by 2015 already, a study by scientists of the Potsdam Institute for Climate Impact Research (PIK) shows. Higher costs would in turn increase the threshold for decision-makers to start the transition to a low-carbon economy. Thus, to keep climate targets within reach it seems to be most relevant to not further postpone mitigation, the researchers conclude.