The hefty cost of climate change

The Statesman , Friday, January 25, 2008
Correspondent : Staff Reporter
Press Trust of India

DAVOS, Jan. 24: World renowned Indian environmentalist Mr RK Pachauri has warned the international business and political leaders that climate change could cost up to five per cent of global GDP by 2030 if effective steps were not taken in time.

“The business and political leaders should realise that measures to bring down emission levels would not cost more than 0.2 per cent of the global GDP, but it could cost up to three per cent of world GDP by 2020, and five per cent by 2030, if the temperature goes by 2-4 degree Celsius,” the head of the UN's Nobel Prize-winning scientific panel on climate change said.

Addressing the annual meeting of World Economic Forum, Mr Pachauri said: “Threat of climate change has become a threat to world peace. Though there is an unprecedented awareness of the issue, the response of corporate sector and governments was still weak.” The agriculture production may be down by as much as 50 per cent by 2020, due to climate change and by 75-200 millions of tons in Africa alone, he said.

Expressing disappointment at global response to the challenge, he said the new EU strategy for slashing greenhouse emissions was “not up to expectations”.

The chairman of the Intergovernmental Panel on Climate Change (IPCC) said, the use of renewable energies like biomass and wind and solar power would rise to 20 per cent of all energy forms by over next two decades. Biofuels would also have to make up 10 per cent of fuels used for transport.

Mr Pachauri, whose organisation won last year's Nobel Peace Prize with former US Vice-President Mr Al Gore, said he was sure that the priorities would change over a period of time. As per the estimates of IPCC, which has studied the impact of climate change on environment, he said: “The global economy incurred a loss of around 1.5 trillion dollars during 1982-2004 due to natural disasters like floods, drought and loss in crops due to climate change.”

If global temperature rises by 1.5 to 2.5 degree Celsius, large areas of big cities like Kolkata, Dhaka and Shenghai would be submerged, besides affecting many other countries.

He said that despite certain measures taken by the global community, the emission of gases such as methane and carbon monoxide had not declined so far. The impact of global warming was already visible through rise in sea levels, environment change and heat waves.

He said the business leaders should realise that they would also get economic benefits if they took measures to fight with emission of green gases.

Otherwise, it would cost loss in their reputation and political backlash due to wide public awareness.

 
SOURCE : The Statesman, Friday, 25 January 2008
 


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