2015 is a critical year for climate action. In the lead up to the Paris Climate Summit, countries are declaring their national climate plans that could shift the global emissions trajectory. As ambitious as these pledges may be, they alone will not avoid the worst impacts of climate change. A new report from the Global Commission on the Economy and the Climate finds that working together, national and local governments, businesses, financial institutions and civil society can help close the gap by 59 to 96% by 2030 and keep global warming within two degrees Celsius. Even better most of these actions would in themselves be economically beneficial. How is this possible? By building compact, better connected cities, we can save an estimated $17 trillion by 2050 and reduce greenhouse gas emissions by 3.7 gigatons by 2030. By raising energy efficient standards, we could boost worldwide GDP by as much as $18 trillion by 2035 and reduce greenhouse gas emissions by as much as 6.9 gigatons by 2030. Through emissions reduction standards and market-based approaches for global aviation and shipping, we could save $200 billion in costs annually by 2030 and lower emissions from these sectors. Momentum is growing. Renewable energy is getting cheaper every year. More than half of the hundred largest global companies are saving about $1.1 billion per year through their emission reduction and renewable energy initiatives. Smart city networks and initiatives to hold deforestation are spreading and around the world more than 40 national and 20 sub-national regions are moving forward with carbon pricing systems. More needs to be done. By working together, we can stimulate economic growth, reduce poverty and deliver a safer climate for a prosperous future. Find out more about the economic benefits of climate action. Visit www.newclimateeconomy.report.