How does climate change impact the economy of a country
Discuss the impact of climate change on the Indian economy and suggest measures to reduce its effects.
- Agricultural production, India's largest industry and one of the largest employers, is highly sensitive to climate change. Alteration of weather patterns, frequent droughts and flooding can lead to considerable losses
- Climate change impacts tourism in India. For example, the melting of glaciers in the Himalayas, one of India's top tourist destinations, can decrease the number of tourists.
- Increase in temperature is linked with decrease in workers’ productivity. This can affect economic output.
- The power sector is also susceptible to climate change as it relies heavily on water which is becoming scarce in many parts of India due to climate change.
- Increase investment in research and development of renewable energy, such as solar and wind power, to reduce dependence on fossil fuels and reduce carbon emissions.
- Encourage sustainable agriculture practices, such as crop diversification, soil and water conservation, using inputs that emit less greenhouse gases
- Invest in better water management technologies and practices to increase the efficiency of irrigation and reduce water use.
- Develop adaptive strategies to tackle the impact of climate change, such as early warning systems for natural disasters and drought-resistant crops.
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