Slipping Into the Red
A major new environmental report titled Into the Red underlines a critical fact: the most expensive response to climate change is to do nothing.
Produced by the Royal Scottish Geographical Society (RSGS), the report draws from over 100 recent economic reports to underline the consistent findings that the sooner we take action in Scotland to tackle climate change, the better off (and safer) our society will be. Into the Red – a reference to both economic debt and the rising global temperature – highlights how climate change is already costing Scotland billions each year and if left unchecked, these costs could rise to 5-20% of GDP (around £11bn-£45bn per year) by 2050.
Climate change is not just an environmental and social risk, it is an economic one, and we are slipping further and further into the red…
Lead author of the report Dr Richard Dixon commented “From flooding and wildfires to impacts on human health and local economies we found a wide range of estimates, but the bottom line is that climate change is already costing society billions of pounds and those costs are going to increase. Reducing emissions and making society more resilient could mean reducing the future bill by tens of billions.”
“It has been almost exactly a year since Scotland’s faith, science, and NGO communities came together to reinforce the need to tackle climate change,” commented RSGS Chief Executive Dr Mike Robinson. “We know there is no moral or ethical wiggle room – we need to step up and act – as reiterated by every major faith group in Scotland. There is no scientific wiggle room, we know we need to act on climate change, and to say otherwise is to misrepresent the science. And as this report makes clear, there is no economic doubt about the need to take credible and early action. We really need to start seeing leadership, action and financial commitment now and in a way that will protect people’s homes, lives and neighbourhoods.”
The report highlights the numerous ways that without action, climate change could go on to cost Scotland billions, but stresses that it is not too late to deviate from this path if we act now. ‘We need to invest in climate solutions now to head off the much larger costs that will come if we do not act’ reads the report. ‘Across spending plans climate change needs an invest-to-save approach.
‘Here in Scotland we are at a classic moment of potential inaction. The current Climate Change Plan is now aimed at a target that we have scrapped and the government’s own indicators show that less than half of the actions in that plan are on track to deliver. There will not be a new Climate Change Plan agreed until the spring of 2026. Instead of waiting for this new plan, the Scottish Government needs to deliver on the promises it made in the current Climate Change Plan and additional commitments it has made since.’
The report lays out several recommendations to avoid a disastrous impact on our economy in the future. Some recommendations include ensuring a minimum proportion of existing and future public expenditure is net carbon positive, creating a climate wealth fund, investing in climate education and skills training, and an oversight body for climate action.
Read the full report now.
