A climate pound now saves nine, researchers find

Findings by researchers in Northern Ireland have highlighted the “extensive benefits to the UK economy” from immediate action by local authorities to address the climate crisis. The study found also that every £1 invested in climate mitigation saved a further £9.

The report on a study by the Centre for Sustainability, Equality and Climate Action at Queen’s University Belfast and the Place-Based Climate Action Network for UK100 included the finding that local investment in climate action would create 800,000 green jobs in the UK by 2030. This, according to the report, would rise to 1.38 million jobs by 2050.

The researchers claimed that one of the strongest economic cases for UK local authorities to invest in climate mitigation and adaptation is the associated avoidance of the rising costs of climate impacts.

The report highlighted the estimated annual cost of floods in the UK has reached £340 million, and is expected to rise to £428 million if global temperatures rise by 2°C, reaching £619 million if post-industrial warming reaches 4°C.