The good news is that improving well-being and tackling the climate crisis can be both profitable and socially attractive.
For several years now, numerous studies have shown that the cost of climate action is lower than the cost of inaction. The 2006 Stern Review, published by the UK Treasury, estimated the cost of inaction at between 5% and 20% of global GDP, compared with 1% for action. Another study by McKinsey estimates the additional annual cost of a net-zero scenario compared to current policies at $1,000 billion by 2050. This amount should be seen in the context of environmentally harmful public subsidies, estimated at $1,800 billion a year by a coalition of companies and NGOs. “According to Benoît Leguet, Director of the Institut d’Economie du Climat (I4CE), “There’s no shortage of money, it’s the incentives to invest in the climate that are lacking.
This positive relationship between environmentally-friendly behavior and personal well-being can be explained by the fact that taking action to protect the environment makes us feel good by satisfying fundamental psychological needs, such as the feeling of making a useful contribution to the world or acting in accordance with our own values and concerns. This is good news for activists and politicians alike. Rather than assuming that doing the right thing for the environment must be a burden, we should find ways to highlight the positive potential.
