Effect of Climate Change on World Economics
People I am going to take a bit of a break from my usual bargain hunting posts to take a look at the rather serious subject of climate change and how it impacts the world of economics and business. While some call it placing obstacle in economic progress and placing curbs on free enterprise, this is a shortsighted view. We have to preserve and conserve now, so that we don’t destroy our resources and have the wherewithal to continue to produce tomorrow.
A couple of months ago, just such an initiative was underway in Copenhagen where the future of business was decided during the World Business Summit on Climate Change. The aim of this summit was for top CEOs to discuss how their firms can help solve the climate crisis through innovative business models, new partnerships, and the development of low-carbon technologies. The object was also to send a strong message to the negotiating governments on how to remove barriers and create incentives for implementation of new solutions in a post-Kyoto framework.
The result of the meeting was a document called The Copenhagen Call which sets out 6 steps to be implemented to set a firm foundation for a sustainable economic future.
1. Agreement on a science-based greenhouse gas stabilization path with 2020 and 2050 emissions reduction targets that will achieve it;
2. Effective measurement, reporting and verification of emissions performance by business;
3. Incentives for a dramatic increase in financing low emissions technologies;
4. Deployment of existing low-emissions technologies and the development of new ones;
5. Funds to make communities more resilient and able to adapt to the effects of climate change, and
6. Means to finance forest protection.
So why is it so important to halt climate change?
- Intensified and More Frequent Weather Events. This means damage to property, loss in business and to human life, workdays lost.
- Rising Sea Levels: This means that coastal areas are actually reclaimed by the sea and we actually loose vast tracts of land for cultivation or other production.
- Water Shortages and Threats to Food Security: Droughts and scarcity of water has direct impact on agricultural produce and all business.
- Rising Temperatures: This means higher cooling bills and more resources spent on energy for longer periods of time during a year
- Disease and Other Health Effects: Climate change also means more proliferation of disease and infection which causes lower productivity and lost workdays
- Disruption of the Ecosystem, Habitat Destruction and Species Extinction: Why should you care if some corals got bleached or if a part of a rain forest in a distant continent was destroyed, or if an obscure species of penguin was on the verge of extinction? Well that could mean that the tourism industry of a place is affected or that there is no raw material to produce the things you take for granted. It is all interconnected and each has effect on us; all of us. It would be shortsighted and unwise to think otherwise.
Did you know that a small increase in temperature can potentially bias the sex ratios of sea turtles? The sex of the sea turtles are determined by the temperature the eggs were incubated (in the sand or in incubation boxes).
Higher temperatures will produce females, and lower temperatures will produce males.
If temperature rises, we would be producing all females and no males to fertilize the eggs!
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The solution devised for dealing with floods is wonderful lol, i wonder what they will do for the drought. Great article
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From India, I have just seen what climate change has done to the system with a very unusual monsoon. We still do not know whether there will be drought and whether all the reservoirs will get sufficient water for storage till the next monsoon. We do not know if the next monsoon will be normal or more erratic than this one.
Something sure needs to be done. And fast. Anything, as long as it halts further damage to the eco system.
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I know this is a topic that is important to discuss and prepare for, but I don’t think it is taken very seriously because it’s difficult for most people to comprehend and easier to ignore.
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[...] Great Prices Here » Effect of Climate Change on World Economics – People I am going to take a bit of a break from my usual bargain hunting posts to take a look at the rather serious subject of climate change and how it impacts the world of economics and business. While some call it placing obstacle in … [...]
This article is very topical today, I believe. Many people are interested in this problem nowadays, because of all those reasons that the author numbered. They all are true and the change of climate is really very serious problem and of course it is closely connected with the business sphere, as everything is closely connected with business nowadays in the era of developed economy and globalization. We can not do anything with this link, we can not tear it, so we must do something to prevent the worsening of this situation. I think that the government took the right decision when decided to implement new points in the policy.
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although we always hear the advocation of enviromental protection,it is eay to see many phenormenen that some countries just concern the economic development at the price of destroying our enviroment.
the goal needs us to jointly make efforts not just a slogan.
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how would the businesses survived with the effects of global climate change?
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