Greenhouse gases can be cut to zero net emissions by 2100, a report by World Bank Group claims.

The paper, called ‘Decarbonizing Development: Three Steps to a Zero Carbon Future’, claims the transition to zero net emissions is affordable if governments act today.

The study claims the first step is to “plan for the end goal and not just the short-term”, then to “get prices right as part of a broad policy package, which triggers changes in investment and behaviour”.

The statement’s final point is to “smooth the transition for those most affected”.

However, it claims if action is delayed then costs will grow – “waiting until 2030 would increase the global cost by 50%”.

Rachel Kyte, World Bank Group Vice President and Special Envoy for Climate Change said: “Our role is to help our country clients and others to make the shift to low emissions development.

“Choices made today can lock in emissions trajectories for years to come and leave communities vulnerable to climate impacts.”