Managing risks of a green economy

A rapid transition to renewable energy, which is necessary, will disrupt a number of businesses

Photo: Bloomberg

Photo: Bloomberg

Rajesh Kumar
The latest report of the United Nations Intergovernmental Panel on Climate Change makes it clear that human activity is affecting the climate in an unprecedented manner, and part of the damage could be irreversible. Climate change will affect lives and livelihoods across the globe with some countries getting disproportionately impacted. According to a recent report by the Swiss Re Institute, climate change could reduce global gross domestic product by 18 per cent by 2050 if no mitigation action is taken. India would also suffer significantly. A 2019 International Labour Organization study noted that productivity loss because of heat stress could be equivalent to 80 million full-time jobs globally in 2030. Clearly, more needs to be done to contain the risk
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

First Published: Sep 23 2021 | 11:44 PM IST

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