Climate Change: The Ultimate Challenge for

Economic Growth

Ramesh Baviskar
Department of Economics, Z.B.Patil College,Dhule.

Humanities, Languages and Fine Arts.

ABSTRACT

Global growth is projected to reach 3.9 percent in 2018 and 2019. Growth is
also becoming more uneven among emerging markets and developing economies.
However humanity is facing an unprecedented combination of serious
environmental threats. Countries and communities around the world are already
experiencing increased climate change impacts like Flood, Famines, Rising tides, loss
of shorelines, Crisis in food production, Loss of animal habitation, and the
unevenness of changes in different part of the globe tend to observe the gradual 1 or
2 degree Celsius change in average temperature that we have experienced or will
experience over several decades.The Intergovernmental Panel on Climate Change
(IPCC) release its special report on keeping warming to under 1.5 degree Celsius
compared to pre-industrial times.

The United Nations Framework Convention on Climate Change (UNFCCC) and

the Kyoto Protocol (KP) are the cornerstone of this approach and IPCC has a great
contribution to reduce the Carbon emission. However lead to increase green house
gas emission and reduced sink for carbon dioxide – population growth and
increasing consumption (Fossil oil) is the core problem to tackle otherwise climate
impacts could push an additional 100 million people into poverty by 2030, By 2050,
143 million people across three developing regions will become climate migrants,
The impact of extreme natural disasters is equivalent to a global $520 billion loss in
annual consumption, and forces some 26 million people into poverty each year.

Many more individuals and organizations must be recruited in order to

undertake the necessary steps to tackle the enormous problem of environment and
wide participation has to be secured for any agreement to come into force and all
agreements need to be implemented through national policy and there should be tax
on Carbon emission which will lead to reduce Carbon consumption.