A new report by Deloitte Access Economics has shown that the Australian economy will shrink by 6 percent and lose almost a million jobs by 2070 if nothing is done about climate change. Deloitte Australia chief economist Chris Richardson says the COVID-19 pandemic has shown the cost of overlooking catastrophic risks. He said if we don’t address climate change, “by 2050 Australia will experience economic losses on par with COVID every year, [which would] compromise the economic future of Australia.”