INTHEBLACK July 2022 - Magazine - Page 11
“I recognise that leading a company and leading a good
life are not the same thing, but I know in my heart that
staying true to who you are and what you believe is one
of the most important choices you can make.”
TIM COOK
APPLE CEO
S P E A K I N G AT G A L L A U D ET
UNIVERSITY’S COMMENCEMENT
CEREMONY IN WASHINGTON
D.C. IN JUNE 2022.
Source: CNBC
THE COST OF
UNCHECKED
CLIMATE
CHANGE
It is impossible to put a figure on the human costs of
climate-change inaction – a lower standard of living,
a lack of food and water, loss of jobs, declining health
and wellbeing – but what would be the cost to the
global economy?
Researchers from the Deloitte Economics Institute may
have the answer. Their modelling draws on region-level
data from 15 geographies across Asia-Pacific, Europe
and the Americas to estimate the cost to the economy
if global average temperatures are not prevented from
rising by 3°C by the end of the century.
The modelling shows that unchecked climate change
could cost the global economy US$178 trillion (A$255
trillion) in net present value terms from 2021 to 2070.
The report shows that decarbonisation will cost more
in the initial stages, and continuing disasters will add to
strain on the economy. However, reaching net zero will
ultimately create much more value. The report shows
that achieving net-zero emissions by 2050 could increase
the size of the world’s economy by US$43 trillion
(A$61 trillion) in net present value terms from 2021 to
2070.
The report authors note that with global emissions
continuing to rise over the past two decades, “we have
squandered the chance to decarbonize at our leisure”.
READ THE REPORT HERE
MORE
SINGAPOREANS
S TA R T T H E I R
EV ENGINES
As Singapore moves to cut
land transport emissions,
its pace of electric vehicle
(EV) registrations in the first
five months of this year was
double that of the entire 2021.
Speaking at the annual
Ecosperity sustainability event
in June, S. Iswaran, Singapore’s
transport minister, said EVs
accounted for 8.4 per cent of
all new car registrations, more
than twice the rate in 2021, and
over 20 times that in 2020.
The minister expects a
further increase in EV adoption
as more electric chargers are
deployed around the island.
At the end of April this year,
there were 822 more electric
cars on Singapore’s roads as
than in December 2021.
READ MORE HERE
intheblack.cpaaustralia.com.au July 2022 11