Tackling climate change can increase rather than inhibit prosperity, according to anew study co-authored by Lord Stern, a leading expert on climate economics, and some the globe’s biggest institutions, including the UN, the OECD group, the IMF and the World Bank.The report states that countries at all levels of income can build lasting economic growth while reducing the immense risks of climate change, and that the next 15 years will be critical, as the global economy undergoes a deep structural transformation.

Infrastructure requirements for a high-carbon economy, across transport, energy, water systems and cities, are estimated at around US$90 trillion over the next 15 years.The report proposes a 10-point Global Action Plan, which includes phasing out subsidies for fossil fuels, reducing incentives for urban sprawl, and creating connected andcompact cities built around mass public transport. The last of these points is projected to result inhealthier and more economically dynamic communities,and to reduceglobal urban infrastructure capital requirements an estimated US$3 trillion over the next 15 years.

For the full text of the report, please visit the offical website hosted by the Global Commission on the Economy and Climate.