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Low Carbon Cities Are US$17 Trillion Opportunity, Says New Climate Economy

21st September 2015

LONDON: Low carbon urban development represents a US$16.6 trillion opportunity by 2050, according to a new working paper report from The Global Commission on the Economy and Climate, a major international initiative to analyze and communicate the economic risks and opportunities of climate action.

The working paper puts cities and sub-national governments at the forefront of the fight against climate change. This year, about 85% of global GDP was generated in cities – and by 2050, two-thirds of the world’s population will live in urban areas.

It is therefore imperative to use resources more efficiently at this sub-national level of government, through bold policies to enable smarter low carbon cities. In a Climate TV video interview released ahead of Climate Week NYCLibby Ferguson, States & Regions Director, The Climate Group underlines: “In the climate change world you see a lot of focus on national governments involved in the international climate negotiations. But there is rightly increased attention on sub-national governments, which includes cities, states and regions, who play a vital role in helping realize the economic potential of the low carbon economy.

This is an excerpt of an article originally posted by The Climate Group, to read the original article on their website click here.

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