United Nations Environment Programme (UNEP) report finds that a whole-of-society and whole-of-government approach to transform the systems of economy and finance, materials and waste, energy, food and the environment would deliver global macroeconomic benefits that could reach $20tr per year by 2070 and continue growing.

The Global Environment Outlook, Seventh Edition: A Future We Choose (GEO-7), released during the seventh session of the United Nations Environment Assembly in Nairobi, is the product of 287 multi-disciplinary scientists from 82 countries.

A key enabling factor of this approach is moving away from GDP to indicators that also track human and natural capital – incentivising economies to move towards circularity, decarbonisation of the energy system, sustainable agriculture, ecosystem restoration and more.

The transformation pathways predict that the global macroeconomic benefits will start to appear in 2050, grow to $20tr by 2070 and boom thereafter to $100tr per year. The pathways project reduced exposure to climate risks, reduced biodiversity loss by 2030 and an increase in natural lands.

The report also estimates that to achieve net-zero emissions by 2050, and ensure adequate funding for conserving and restoring biodiversity, an annual investment of about $8tr is needed until 2050.

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