Tackling climate change will grow economy - World Bank

Looks like Abbott's friendless at the World Bank as well. 

His anti-climate last century views are now completely at odds with what's happening in the world. His assertion that the carbon tax or other climate change measures ran the risk of "clobbering" the economy has been dealt a fatal blow by the World Bank, who has come out with this study that shows exactly the opposite. 

Fighting climate change would help grow the world economy, according to the World Bank, adding up to $2.6tn (£1.5tn) a year to global GDP in the coming decades. 

The findings, made available in a report on Tuesday, offer a sharp contrast with claims by the Australian government that fighting climate change would “clobber” the economy. 

The report also advances on the work of economists who have argued that it will be far more costly in the long run to delay action on climate change. .

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The World Bank president, Jim Yong Kim, said the findings put to rest claims that the world could not afford to act on climate change. 

“These policies make economic sense,” Kim said in a conference call with reporters. “This report removes another false barrier, another false argument not to take action against climate change.” 

Australia's prime minister, Tony Abbott, said during a visit to Canada earlier this month that it was too costly to fight climate change. “What we are not going to do is clobber our economy and cost jobs with things like a job-killing carbon tax,” he said. 

Kim did not comment directly on Abbott's remarks but he said pointedly that the World Bank study provided solid data on the effects of pro-climate policies, in contrast to “opining” about their costs. 

“This modelling shows that smart choices that will also improve local and global economies,” Kim said. 

The findings are also a step forward from the work of economists such as Lord Stern who have focused on the costs of delaying action on climate change. more

No shit Sherlock. It's common knowledge in Australia how much the new Green industries have grown in only a few years.  Contributing to the overall economy. Abbott's false notion that green energy and economic growth are incompatible with each other is false.