>[…] However, as we try to show in our recent publication, Growing Green: the Economic Benefits of Climate Action, strategic investment in climate action can benefit these countries in the medium- and long-terms – thus offsetting the negative consequences of these investments.

Above all, countries need to focus on three types of climate action: climate action as aco-benefit, climate action as an investment, and climate action as insurance.

This first area of climate action is simply a co-benefit of policies that make sense even if we were not concerned about climate change. These are things like supporting energy efficiency investments or restoring degraded soils to make agriculture more productive (while also increasing carbon storage in soils).

The second area is what we call climate action as an investment. This gets at the issue of how countries can benefit from greening their economies – doing well by doing good. What we have seen in the last few years is that new firms emerge in countries that have implemented ambitious green policies early and take advantage of the economic opportunities that have sprung from these policies. […]<