India lost 8% of its GDP in 2022 due to climate change, according to a study by the University of Delaware's Gerard J. Mangone Climate Change Science and Policy Hub. Asian Development Bank estimates the loss at nearly 25% by 2070.
"Like every year, 2024 was worse than 2023; and 2025 is going to be worse," said Chandra Bhushan, chief executive of the International Forum for Environment, Sustainability & Technology (iFOREST).
"Climate change is now directly impacting our economic growth and development," said Bhushan. "As the crisis worsens, it will create more poverty and reduce our growth rate."
The average global temperature in 2025 is expected to range between 1.29°C and 1.53°C above the pre-industrial levels, with a mean increase of 1.41°C, according to forecasts by meteorological departments worldwide.
The global climate goal is to limit the rise to 2 °C to avoid irreversible changes.
Between January and November 2024, the global surface temperature was the warmest in 175 years, reaching 1.28°C above the pre-industrial average of 14.0°C, compared with an increase of 1.10°C in 2023. El Niño contributed to this rise, causing heatwaves.
Denne historien er fra December 24, 2024-utgaven av Mint Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 24, 2024-utgaven av Mint Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Services exports save the day for current account in Sep quarter
A rise in services exports helped narrow India's current account deficit (CAD) in the September quarter, although this marked the second consecutive quarterly deficit after hitting a surplus in the final three months of FY24.
Sebi Issues Circular on Share Transfer
The circular provides clarity on the rules surrounding ownership transfers in intermediary cos
UltraTech to Acquire Minority Stake in Star Cement
UltraTech Cement on Friday said it will acquire a minority stake of 8.69% from the promoters of Meghalaya-based Star Cement in a deal worth up to ₹851 crore.
Rupee falls to record low as dollar bids spike
The rupee fell to an all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand, while the sharp fall led to panic dollar buying by importers.
JSW Neo to acquire O2 Power; EQT and Temasek to exit
The transaction entails acquisition of O2 Power Midco Holdings and O2 Energy SG, and is subject to customary nods
Rural-urban consumption gap shrinks in 2023-24
The monthly per capita consumption expenditure rose to ₹4,122 in rural areas and ₹6,996 in urban areas
Escorts Kubota's ride is bumpy amid demand concerns
Escorts Kubota Ltd continues to grapple with the challenges of weak export volumes and subdued construction equipment demand.
India's Textile Exports a Silver Lining as Trade Deficit Widens
Experts attribute this growth to govt policies, trade deals, and adoption of new technologies
The Archetypical Insider Who Guided India Towards Its Economic Potential
During Singh's tenure at RBI, India embraced a more flexible exchange rate to promote exports
A Vision
Former prime minister Manmohan Singh's tenure (2004-2014) witnessed significant reforms that profoundly impacted India's economy, governance, and social infrastructure. His reforms focused on pressing issues such as poverty alleviation, education, healthcare, and corruption. Mint takes a look at the key reforms that reflect Singh's enduring legacy.