Hungarian President Janos Ader – Photo: wikipedia

Ader: Allocate 2 percent of national income towards averting economic losses due to climate change

By allocating 2 percent of Hungarian national income towards establishing a sustainable economy, any future economic losses related to climate change can be offset, President Janos Ader told news channel M1 on Wednesday.

The president said that current trends, if unchecked, could lead to the earth’s surface warming by 3 C, resulting in a big dent in global GDP.

“Inaction is far more costly than taking steps towards sustainability,” Ader said, adding that the potential resulting effects would be felt within a decade or two. “By then it will be too late to lament over what we should have done in 2020 but didn’t.”

The Planet Budapest 2021 sustainability expo will feature innovations aiding sustainability in energy, environmental and water management, such as solar panels integrated into roof tiles or biological water purifying systems for metropolises, he said. Hungarian inventions such as a composting robot and a “plastic-eating substance” will also be shown, he said.

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