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Time is running out to act on climate change. But rather than climate action being a drain on our economy, our report shows it will significantly boost GDP and accelerate phenomenal growth in both New Zealand and Asia Pacific as a whole.


New Zealand stands to benefit from a US$47 trillion prize in Asia Pacific, our economic modelling reveals. But it’s only if the region decarbonises at pace and scale to prevent a US$96 trillion loss in the next 50 years.


With decarbonisation acting as a new economic engine, Asia Pacific and New Zealand play a key role in providing the skills, technology, innovation, and finance for this global transformation. There is a window of opportunity to lead the way by seeing climate action not as a cost, but an extraordinary possibility for growth in New Zealand and the region.


But we can only achieve this if we work together and act now - we are at a turning point.


Read our blog: Reframing the narrative: Climate action now unlocks opportunities for the future

Download the report

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Global Summary Highlights

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Economic Imperative

The cost of action and inaction

Unchecked climate change could cost the global economy $178 trillion in net present value terms from 2021-2070. The human costs would be far greater: a lack of food and water, a loss of jobs, worsening health and well-being, reduced standard of living.


Source: Deloitte Economics Institute 


On the other hand, if the world acts now to rapidly achieve net-zero emissions by mid-century, the transformation of the economy would set the world up for stronger economic growth by 2070, according to our analysis. Such a transformation could increase the size of the world economy by $43 trillion in net present value terms from 2021-2070.


Source: Deloitte Economics Institute 


Find out the cost of climate action and inaction in our new report by Deloitte Economics Institute.

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An investment that pays off

With global coordination and rapid action, every region can realize economic benefits from achieving net-zero emissions by 2050.

We already have many of the technologies, business models, and policy approaches today to deliver rapid decarbonization and limit global warming to as close to 1.5 °C as possible by century’s end. As a result, globally, we could enjoy USD$43 trillion in economic gains (net present value) between 2021 and 2070 compared to a climate-damaged baseline.


Source: Deloitte Economics Institute 


Learn more in our new Global Turning Point report.

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Time to act—accelerating to zero

Four phases will shape our economic and climatic future

With global emissions continuing to rise over the last two decades, we have squandered the chance to decarbonize at our leisure. The global economy needs to execute a rapid, coordinated, sequenced energy and industrial transition that will play out in distinct phases.


  • Bold climate plays: Coordination and collaboration set the stage for decarbonization by formulating policies and frameworks for a low-carbon future.
  • Accelerating to net zero: Deep investment across systems instigates structural economic adjustments. The decline of emissions-intensive industries would create growing pains for some economies.
  • Turning point: Investment in structural economic adjustment is almost complete. Economies would realize the dividend of the transformation and experience net positive growth.
  • Low-emission future: Interconnected, low-carbon systems underpin a clean economy that would grow at an increasingly faster rate than its carbon-intensive alternative.


Download Deloitte’s new global economic climate report. 

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Links to regional reports

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Europe

Accelerating new growth on the path to net zero
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Asia Pacific

How climate action can drive our economic future
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United States

The economic opportunity of climate action in the US
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South America

A new economic climate in South America
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Dive into the data

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Contact us

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Andrew Boivin

Partner - Climate Leader

Liza Van Der Merwe

Director - Deloitte Access Economics

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