How to survive and grow in a warming world

The footprint of the Covid-19 pandemic across the sectors of the economy has instilled a new reckoning for resilience and sustainability on the economic, social and environmental (ESG) front. The necessity of good ESG practices in business, for instance, is being increasingly felt, while there has been widespread recognition of the benefits of cleaner air and water. 

Current Situation

• Prediction- Global warming is likely to reach 1.5°C between 2030 and 2052 if it continues to increase at the current rate.
• Human Induced Warming- Human activities are estimated to have caused approximately 1.0°C of global warming above pre-industrial levels, with a likely range of 0.8°C to 1.2°C
• Consequences-Warming from anthropogenic emissions from the pre-industrial period to the present will persist for centuries to millennia and will continue to cause further long-term changes in the climate system, such as sea level rise, with associated impacts, but these emissions alone are unlikely to cause global warming of 1.5°C

Impact of Increasing Temperature

• More frequent and severe weather- Higher temperatures are worsening many types of disasters, including storms, heat waves, floods, and droughts. A warmer climate creates an atmosphere that can collect, retain, and drop more water, changing weather patterns in such a way that wet areas become wetter and dry areas drier. 
• Higher death rates- Scientists point to climate change as "the biggest global health threat of the 21st century." It's a threat that impacts all of us—especially children, the elderly, low-income communities, and minorities—and in a variety of direct and indirect ways. As temperatures spike, so does the incidence of illness, emergency room visits, and death.
• Dirtier air- Rising temperatures also worsen air pollution by increasing ground level ozone, which is created when pollution from cars, factories, and other sources react to sunlight and heat. 

Suggestions

• Put a price on carbon-Carbon pricing systems such as emissions trading systems that cap emissions or carbon taxes that charge per ton send a long-term signal to companies by creating an incentive to reduce polluting behaviors and to invest in cleaner energy choices and low-carbon innovation.
• End fossil fuel subsidies- Fossil fuel subsidies send a different signal – one that can encourage waste and discourage low-carbon growth. By phasing out harmful fossil fuel subsidies, countries can reallocate their spending to where it is most needed and most effective, including proving targeted support for the poor.
• Increase energy efficiency and use of renewable energy-When we talk about energy, we have to talk about access. Worldwide, about 1.2 billion people lack access to electricity and 2.8 billion rely on solid fuels for cooking, such as wood, charcoal, and coal, which cause harmful indoor air pollution. Efforts should be made to incorporate the usage of renewable forms of energy instead of the non-renewable sources.