Climate change mitigation efforts could boost GDP in developing countries

New Delhi, May 01 (ANI): A new study led by the International Food Policy Research Institute (IFPRI) in Washington shows that in addition to reducing the severity and number of extreme weather events, effective climate change mitigation efforts would lower fossil fuel prices. Thus, the findings suggest reducing greenhouse gas emissions could have long-term economic benefits in low-income countries.Study claimed that the successful global efforts to significantly limit greenhouse gas emissions would likely increase the Gross Domestic Product (GDP) growth of poorer countries over the next 30 years.Study shows that beyond the benefits of reduced extreme weather in the long term, global mitigation efforts would also lower oil prices in the coming decades, resulting in a significant economic boon for poorer countries.