Global warming threat looms over economies
Carbon emissions have pushed up global temperatures by half a degree Celsius. If no action is taken there is more than a 75% chance of global temperatures rising by more than 2 degrees Celsius over the next 50 years. Ignoring the change would lead to major disruption in global economies and social activities on a scale similar to those associated with previous great wars and the economic depression in the first half of the 20th century.
These were some of the key observations of the UK based Stern Committee report on the economics of climate change, which were reiterated on Wednesday by Justin Mundy, senior advisor on climate change and Dimitri Zenghelis, senior economic adviser, the UK government. They were speaking at an interactive session, organised jointly by British Deputy High Commission (Kolkata) and the Indian Chamber of Commerce.
The top level British government officials were in the city as part of the UK government's mission to create awareness about the devastating impact of global warming on the world economy and build public opinion on what actions could be taken on the issue in line with recommendations made by the Stern committee.
The UK committee, headed by Sir Nicholas Stern had presented the report to the UK government in October 2006. Mr. Stern, former chief economist of the World Bank, heads economics service department of the UK government and is adviser to the UK -government on the economics of climate change. The committee's review on the pace of global warming and its probable impact on global economy today form the foundation of UK's policy on tackling the issue.
Addressing the session, Mr. Zenghelis said the Stern committee report is intended not just to guide UK policymaking in curtailing greenhouse gas emission, but to underpin discussions about the wider international policy framework, adding, that UK makes up only 2 % of global greenhouse gas emissions.
Mr. Mundy said since the climate change is global in its causes and consequences, international collective action is critical in driving an effective, efficient and equitable response to the problem. This response' should be based on deeper international cooperation in many areas- most notably in pricing the carbon market, development of clean technology and its free transfer, adaptation to the changing climate and finally promoting innovative technology to control greenhouse gas emission.
The Stern committee report said the current level of greenhouse gases in the atmosphere is equivalent to around 430 parts per million (ppm) compared to only 280 ppm before the Industrial Revolution.
Carbon emissions have pushed up global temperatures by half a degree Celsius. If no action is taken there is more than a 75% chance of global temperatures rising by more than 2 degrees Celsius over the next 50 years. Ignoring the change would lead to major disruption in global economies and social activities on a scale similar to those associated with previous great wars and the economic depression in the first half of the 20th century.
These were some of the key observations of the UK based Stern Committee report on the economics of climate change, which were reiterated on Wednesday by Justin Mundy, senior advisor on climate change and Dimitri Zenghelis, senior economic adviser, the UK government. They were speaking at an interactive session, organised jointly by British Deputy High Commission (Kolkata) and the Indian Chamber of Commerce.
The top level British government officials were in the city as part of the UK government's mission to create awareness about the devastating impact of global warming on the world economy and build public opinion on what actions could be taken on the issue in line with recommendations made by the Stern committee.
The UK committee, headed by Sir Nicholas Stern had presented the report to the UK government in October 2006. Mr. Stern, former chief economist of the World Bank, heads economics service department of the UK government and is adviser to the UK -government on the economics of climate change. The committee's review on the pace of global warming and its probable impact on global economy today form the foundation of UK's policy on tackling the issue.
Addressing the session, Mr. Zenghelis said the Stern committee report is intended not just to guide UK policymaking in curtailing greenhouse gas emission, but to underpin discussions about the wider international policy framework, adding, that UK makes up only 2 % of global greenhouse gas emissions.
Mr. Mundy said since the climate change is global in its causes and consequences, international collective action is critical in driving an effective, efficient and equitable response to the problem. This response' should be based on deeper international cooperation in many areas- most notably in pricing the carbon market, development of clean technology and its free transfer, adaptation to the changing climate and finally promoting innovative technology to control greenhouse gas emission.
The Stern committee report said the current level of greenhouse gases in the atmosphere is equivalent to around 430 parts per million (ppm) compared to only 280 ppm before the Industrial Revolution.
1 comment:
please send me a copy of "economics" by "samuelson & nordhaus" latest edition at prasad.d.kamat@gmail.com
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