Economic disaster


Climate change is not only a serious threat to the planet and to people; it is also threatening the global economy. Due to its serious impact on the environment and people, climate change is one of the biggest threats to economic stability. Heatwaves make us less able to work and reduce productivity. Hurricanes, cyclones and typhoons devastate millions of people, leaving them in absolute poverty after ruthlessly sweeping away their communities. Droughts shrink harvests, further complicating the arduous task of feeding the world population, which is expected to reach 10 billion by 2050. If measures are not taken immediately, climate change could push millions more people into poverty.

To devise strategies to tackle the climate change, United Nations Climate Change Conference was held at Madrid from 2 to 13 December.  Speaking on the occasion United Nations Secretary-General Antonio Guterres urged countries and companies to tackle climate change, saying failure to do so would mean economic disaster. Fears that measures to cut greenhouse gas emissions would decimate existing industries ignored the opportunities arising from the green economy. For too long, vested interests have peddled the false story that economic growth and tackling climate change are incompatible. In fact, failing to tackle global heating is a sure-fire recipe for economic disaster.

Shifting to a low-carbon economy could create 65 million new jobs worldwide by 2030 and boost growth by $26 trillion dollars. Advisor to Prime Minister on Climate Change Malik Amin Aslam represented Pakistan at the conference and highlighted Pakistan’s stance and measures to tackle climate change. Pakistan faces a climate challenge which is not only unique but equally inescapable. Pakistan contribute less than one percent of the total planet-warming carbon emissions, yet every year the country keeps on climbing up the ladder of climate vulnerability.

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