Global: Climate change mitigation 'far cheaper than inaction'

Tackling the global climate crisis could reap significant economic benefits for both developed and developing countries, according to a new report. The impacts of climate change and a carbon-intensive economy cost the world around US$1.2 trillion a year - 1.6 per cent of the total global GDP (gross domestic product), states 'Climate Vulnerability Monitor: A Guide to the Cold Calculus of A Hot Planet'.