Economy could suffer out of global warming

Summary

The Marshall Islands, located in the Central Pacific Ocean midway between Australia and Hawaii, are most at risk from climate change for their very existence.…

The Marshall Islands, located in the Central Pacific Ocean midway between Australia and Hawaii, are most at risk from climate change for their very existence. The 29 atolls, which are also among the top three ship registries in the world, are in danger of going extinct due to rising sea levels.

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The devastating effects of the present climate projections for our population include coastline erosion, considerable land, and home loss, increased salinization of water sources, and loss of livelihoods.

In a press release from the Secretariat of the Pacific Regional Environment Programme (SPREP), a regional body to safeguard and manage the environment and natural resources of the Pacific, Warwick Harris, Deputy Director of the RMI Climate Change Directorate, made the following statement. For the Marshall Islands, even the smallest rise in sea levels has an impact on their way of life.

Such dangers to this island nation are an illustration of the terrible effects that follow major weather disasters. In an effort to meet the goals for combating climate change, it also sheds light on a crucial element of the maritime industry: decarbonization of the sector. 80–90% of global trade is enabled through international shipping, which also accounts for around 70% of shipping energy emissions, according to a report by the International Renewable Energy Agency (IRENA).

According to the report, if the global shipping industry were a nation, it would rank sixth or seventh in terms of CO2 emissions, after Germany.

Given the severity of the global climate change, trade and logistics are not immune to such disruptions and are predicted to suffer significantly in India as well.

India is seen as one of the most vulnerable nations due to its extensive coastline, a major agrarian economy, reliance on the monsoon, and dependence on the weather, according to the Economic Survey 2022–23.

Noting that developing nations’ contributions to the global stock of greenhouse gases (GHGs) have been relatively small in comparison to developed nations, it focused on India, which contributed only about 4% of the total emissions worldwide from 1850 to 2019 and kept its per-person emissions well below the global average.

Ironically, individuals who have made the smallest contributions to global warming are those who must bear the greatest adaptation burden.

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