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Reinvent the economic growth model

GS Paper 3

Syllabus: Economy/Environment

 

Source: Down to Earth

Direction: Don’t miss any articles by Sunita Narain (D2E) on the environment

Context: The author argues that future global actions must accept the reality of climate equity and use it to drive economic growth

Climate equity ensures the just and fair distribution of the benefits of climate protection efforts among all poor and rich countries, and rural and urban populations.

Issues:

  • Poor the victim: Climate change is an existential threat. And Poor (already surviving on the margins) are severely impacted by extreme weather events.
  • Progress vs environment: Millions of people are still waiting to get the benefits of economic progress — which means access to affordable energy. And at a time when the world has literally run out of carbon space to accommodate their need for development.
    • Low carbon space for the poor: The “old” industrialised countries and new entrant China have appropriated 73 per cent of the carbon space till 2019.
  • Erosion or dilution of climate equity in the negotiations: E.g., 2015 Paris Agreement got rid of the very concept of historical emissions and the idea of “compensation” for the loss and damage.
  • The Sum of the nationally determined contributions (NDC) is inadequate: Studies show that even if all NDC targets are fulfilled, it would take the world towards a minimum of a 3°C temperature rise or more.

 

Solution:

Reinvent “growth” to become low-carbon, sustainable and yet affordable:

  • Carbon fiancé markets — Article 6 of the Paris Agreement — should be put to work: g., the provision of clean energy through millions of mini-grids in the world of the poorest.
  • Nature-based solutions must be firmly implemented: E.g., use the ecological wealth of poor countries and communities for mitigation as trees and natural ecosystems sequester CO2.

Insta Links

Climate change and associated Issues

Mains Links

Q. How far do you think the nature-based solutions a viable option in dealing with climate change in India? Analyze with suitable illustrations. (250 Words)

 

Prelims Links

“Climate Action Tracker” which emission reduction pledges of different countries are a :
(a) Database created by a coalition of research organisations
(b) Wing of “International Panel of Climate Change”
(c) Committee under “United Nations Framework Convention on Climate Change”
(d) Agency promoted and financed by the United Nations Environment Programme and World Bank.

Answer: A

The Climate Action Tracker (CAT) is an independent scientific analysis produced by two research organisations tracking climate action since 2009. It tracks progress toward the globally agreed aim of holding warming well below 2°C and pursuing efforts to limit warming to 1.5°C.

Which one of the following statements best describes the term ‘Social Cost of Carbon?

(a) Long-term damage done by a tonne of CO2 emissions in a given year.

(b) Requirement of fossil fuels for a country to provide goods and services to its citizens, based on the burning of those fuels.

(c) Efforts put in by a climate refugee to adapt to live in a new place.

(d) Contribution of an individual person to the carbon footprint on the planet Earth.

Answer: A