As Vanguard for Climate Action, Low-Carbon Cities Could Save $22 Trillion

In 'urban era,' ramping up building efficiency and public transit in cities could help save money—and the planet

by Deirdre Fulton, staff writer

Compact, connected, and efficient "low-carbon" cities could generate global savings of up to $22 trillion, while sharply reducing greenhouse gas emissions, alleviating poverty, and improving public health, says a new report out Tuesday from leading international economists.

Accelerating investment in building energy efficiency, public transit, and better waste management techniques "has the potential to generate sustained urban productivity improvements and a wide range of economic, social and environmental benefits," reads the document (pdf) from the New Climate Economy, the flagship project of the Global Commission on the Economy and Climate. The project was established by seven countries—Colombia, Ethiopia, Indonesia, Norway, South Korea, Sweden, and the United Kingdom—as an independent initiative to examine how countries can achieve economic growth while dealing with the risks posed by climate change.