The adjacent graphic presents the results of scenario analyses by the Network for Greening the Financial System (NGFS). It argues that it is economically prudent to intensify efforts to reduce global CO₂ emissions. Pursuing the "Net Zero 2050" goal could limit economic losses stemming from climate change from 15 % of global GDP under current policies to 8 %. Achieving Net Zero could also have a cooling effect on global inflation. Specific data for different regions and scenarios are provided, including emerging markets and developing economies, China, India, and advanced economies.

© Deutsche Bundesbank

© Deutsche Bundesbank