The World Meteorological Organisation’s recent report on global temperatures highlighted that temperature reached 5 degrees Celsius in early June is a warning that the climate emergency is upon us. This is the time for developed countries to reach out Less-developed or developing ones to help in cope with the situation.
Delayed Monsoon and concerns: Report mentions the delayed in southwest monsoon with Irregular rains have a bigger impact on the economy and market sentiment.
Food insecurity and disasters: The complexity of food security and create weather changes with increasing frequency of floods, drought, extreme rains etc. is also increasing.
Changing weather patterns: The increasingly negative role of climate change in creating variability in our weather systems is a cause of concern.
Loss of lives: An estimated two million people lost their lives between 1970 and 2019 to extreme weather and the economic loss hovers around 6.5 trillion dollars.
Unemployment: Proponents of conservative climate action could argue that mitigation of emissions must not erode jobs or hit industry.
Increase in Demand: The uncertainties that come with change — in the manner we produce food, energy or goods and services can become a challenge.
Focus to achieve targets: The current pace of remedial measures of reaching global average temperature rise to 2.7 degrees Celsius over pre-industrial levels by 2100 must be targeted first.
Increase the pace of targeting: A mere 10 per cent of the world’s richest countries emit 50 per cent of the greenhouse gases, while the poorest account for 12 per cent. Delaying climate action to even 2030 is likely to push temperatures beyond 1.5 degrees Celsius.
Transition to Non-renewables: The nearly 11 million dollars in subsidies that the oil and gas industry benefits from delays the transition even more.