A UN report reveals that the production of food and fossil fuels causes $5 billion of environmental damage per hour, emphasizing the urgent need for global transformation in governance and finance to prevent collapse. The Global Environment Outlook (GEO) report, developed by 200 researchers, asserts that current environmental crises, including the climate crisis and ecological destruction, now also threaten economy, food, and national security. The experts call for immediate political courage to adopt sustainable practices, highlighting that the window for action is closing.
Geopolitical challenges, particularly from countries resistant to environmental regulations, complicate progress, yet the report stresses that the cost of action is significantly lower than the cost of inaction. It estimates benefits from climate action could be worth $20 trillion by 2070 and $100 trillion by 2100. The report advocates for pricing environmental damages into energy and food systems to encourage greener consumer choices and proposes measures like universal basic income and subsidies for healthy foods. It also notes that removing fossil fuel subsidies could reduce emissions by a third. The findings underline that today’s economic systems are failing to address these crises, making financial reform essential for sustainable development.
