Impact of Climate Change on Indian Economy
IMPACT OF CLIMATE CHANGE POLICIES
ON
THE GROWTH OF THE INDIAN ECONOMY
Submitted by: Kriti Bhardwaj Date: 1st December, 2010
1
ABSTRACT
The most contentious global debate today is the obligations of the developed and the developing countries to take steps to reduce their carbon footprint. Though climate change is a danger for all countries-developed and developing alike, the quantum of responsibility for mitigating climate change is a debatable issue. There is a perceived divide between the obligations of the two worlds in which our planet is divided.
The source of virtually all past emissions i.e. the developed world has a greater responsibility to take steps to reduce their carbon emissions substantially and help in stabilizing the environment which they disturbed to a large extent. This is the reason why they are subjected to binding targets of reducing their emissions by a set amount in all international agreements.
However, the developing world is gearing towards development at a very fast pace and all development and industrialization pre-supposes the need of higher emissions. Due to this, the emission levels of this part of the world are bound to increase even more rapidly.
Mitigating climate change in developing countries poses a fundamental challenge. For developing nations as a whole, reduction in emissions is not a viable option specifically in the short term. With per capita incomes far below those of developed countries—and per capita emissions almost one-sixth those of the industrialized world—developing countries will carry on stepping up their emissions as they strive to achieve high levels of economic growth and a better quality of life for its citizens.
This paper dwells into the issue of climate change and the impact it has on the economy of a country like
ON
THE GROWTH OF THE INDIAN ECONOMY
Submitted by: Kriti Bhardwaj Date: 1st December, 2010
1
ABSTRACT
The most contentious global debate today is the obligations of the developed and the developing countries to take steps to reduce their carbon footprint. Though climate change is a danger for all countries-developed and developing alike, the quantum of responsibility for mitigating climate change is a debatable issue. There is a perceived divide between the obligations of the two worlds in which our planet is divided.
The source of virtually all past emissions i.e. the developed world has a greater responsibility to take steps to reduce their carbon emissions substantially and help in stabilizing the environment which they disturbed to a large extent. This is the reason why they are subjected to binding targets of reducing their emissions by a set amount in all international agreements.
However, the developing world is gearing towards development at a very fast pace and all development and industrialization pre-supposes the need of higher emissions. Due to this, the emission levels of this part of the world are bound to increase even more rapidly.
Mitigating climate change in developing countries poses a fundamental challenge. For developing nations as a whole, reduction in emissions is not a viable option specifically in the short term. With per capita incomes far below those of developed countries—and per capita emissions almost one-sixth those of the industrialized world—developing countries will carry on stepping up their emissions as they strive to achieve high levels of economic growth and a better quality of life for its citizens.
This paper dwells into the issue of climate change and the impact it has on the economy of a country like