these also p encourage the assessment and management of climate risk in relevant sectors however there is still a long way to go before the right instruments and institutions are in place to explicitly incorporate climate change risk into policies and projects increase privatesector engagement in adaptation actions and integrate climate change adaptation into development cooperation ambitious mitigation action substantially lowers the risk of catastrophic climate change the cost of reaching the c goal would slow global gdp growth from to per year or by percentagepoints on average costing roughly of global gdp in this cost should be compared with the potential cost of inaction which could be as high as of average world consumption per capita according to some estimates stem delayed or only moderate action up to such as implementing the copenhagencancun pledges only or waiting for better technologies to come on stream would increase the pace and scale of efforts needed after