A new report has warned the impact of the shrinking economy from COVID-19 won’t compare to a lack of action on climate change if no big changes are made over the next 50 years.
The analysis by Deloitte Access Economics has indicated that the Australian economy will be six per cent smaller and have 880,000 fewer jobs by 2070 if nothing is done.
That would be a $3.4 trillion loss in present value terms, it said.
Deloitte Australia chief economist Chris Richardson says the COVID pandemic showed the cost of overlooking catastrophic risks.
Deloitte Access Economic’s Chris Richardson
AAP
“So it’s an…
