Economists warn of dire consequences of climate change by 2070

New research is warning the economic effects of climate change will be more severe than those of the pandemic by 2070, and will continue indefinitely unless decisive action is taken to decarbonise the Australian economy.

Smoke haze from bushfires as beachgoers jump from a cliff in Nielsen Park, Sydney. Source: AAP

Australia's economy - already eyeing a massive impact from COVID 19 - could face further blows from climate change. One leading forecaster - Pradeep Phillip of Deloitte (dell-oyt) Australia, likened inaction to a permanent pandemic, in terms of the economic hit. By 2070, the hit to growth nearly doubles to 6-percent. - that's 3-point-4 Trillion dollars lost and 880-thousand jobs.