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Based on historical evidence, the Economic Watch assesses the plausibility of meeting Net-zero and NDC emission pathways (with GDP growth conditioned or not to BBVA baseline) and suggests that if unprecedented shocks are not induced (e.g. through carbon price policies), climate targets will not be reached.
Climate change is an unstoppable wave on the horizon where consumption or investment decisions and public policies are made. Climate change mitigation must be bolstered by measures to adapt to its effects. In so doing, its impacts will be felt in waves rather than a tsunami.
