Climate change may also pose threat to the economy, say researchers

13 August,2018 08:40 AM IST |  New Delhi  |  Agencies

They call for greenhouse gas reduction and green financing to combat climate change threats

Commuters wade through a waterlogged street in Allahabad. Pic/AFP


With India too witnessing a change in its weather patterns, researchers believe climate change may not only challenge the country's conventional development pathways but also pose a serious threat to its economy.

Considering that climate change is the single biggest existential threat the country faces today, they say greenhouse gas reduction must happen immediately and call for green financing to combat climate change threats. The southwest monsoon rainfall in India has been below average in five of the last six years. And if the rainfall remains below average this season, it will be for the third consecutive year.

India Meteorological Department (IMD) data says the cumulative monsoon rainfall for the country from June 1 to August 8 was 10 per cent below the long-period average. According to a World Bank report in June, climate change could cost India 2.8 per cent of its GDP due to extreme weather events. The report estimates nearly half of India's population could face a degraded living standard by 2050.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!
new delhi national news
Related Stories