Tackling climate change builds prosperity and saves lives: Oxfam welcomes World Bank report 'Adding Up the Benefits'

Oxfam welcomes today's World Bank report 'Climate-Smart Development: Adding Up the Benefits,' which shows the series of additional benefits that can be realized if governments take relatively modest actions to reduce greenhouse gas emissions. The report shows that government policies that cut emissions would lead to increased economic output of $1.8 trillion per year and 1 million metric tons of increased crop production.

In response to the report, Ray Offenheiser, President of Oxfam America said:

“Today’s World Bank report makes crystal clear that steps to combat climate change can offer a major boost to global economic development, reducing crop losses and saving lives in the process. It should put to bed claims that tackling climate change must always come at the expense of the fight against hunger and poverty.

“The reality is that policies to reduce dangerous greenhouse gas pollution can build prosperity, create jobs, boost GDP and save lives. The real question is not whether governments should act to combat climate change but how fast can they put in place policies to realize these important benefits. In many instances, developing countries will still require support from developed countries in order to fully realize these additional benefits.

“We congratulate President Kim for showing leadership on climate issues and challenge the Bank to practice what it preaches in the projects it promotes. The only way for the Bank to achieve its twin goals of eradicating extreme poverty and promoting shared prosperity is to ensure its own projects contribute to efforts to address climate change.”