There is no economy if there is no environment: Experts Says there is an urgent need to create awareness on climate crisis

Hyderabad: The Federation of Telangana Chambers of Commerce and Industry (FTCCI) the trade and industry body in Telangana organised an event on 'Climate Change Impacts on Indian Manufacturing: Policy Change agenda in Energy and Production' in Hyderabad. The event is a curtain raiser for the COP-27, the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change scheduled to be held in Sharm al Sheikh, Egypt from 6-18 November. Speaking at the event experts, activists and speakers emphasised that there is no economy if there is no environment, adding that there is an urgent need to create awareness on climate crisis.

Anil Agarwal, President of FTCCI, said: "Climate change is one of the most important problems we face. It is also truly a global problem in the sense that no country alone can influence the outcome. It can only be solved if all countries mount a global response. Climate change is one of the most significant and difficult issues that the developed world has ever confronted." Anil added:"Climate change can impact all the major sectors in the economy that accounts for more than 80 per cent of India's GDP of which 14 per cent of weightage is aligned into manufacturing sector. The overall economic losses due to climate change under business as usual (BAU) is estimated to be about 2 per cent of India's GDP in 2050. Now is the time when India needs to act for preventing the country from losing economic potential by 2050 due to lack of proper effort against climate change."

Bollampally Indrasen Reddy, MD of Four Solar Energy Systems, said: "There is an urgent need to shift from Fossil Fuels to Renewable Energy. Of all the sectors, industries consume the most of energy. Renewable energy is the cheapest and cleanest energy. Its ROI is 3.5 to 4.5 years. It Reduces greenhouse gases which is vital for our living. We are already witnessing extreme heat in cold places, ice melts, flooding across the world due to climate crisis."

Dr Narasimha Reddy Donthi, Centre for Earth Leadership and Sustainability (CELS) said: "Sadly,we are not on track to limit warming to 1.5 °C. Global temperatures are likely to rise above 2 degree C above pre-industrial levels by 2100. Carbon in atmosphere emerged as the biggest threat. Energy, Agriculture & forestry and land use contributes to 91.6 per cent of gas emissions by sector."He added, "We better need to adapt to climate change by enhancing investments in agriculture, water resources, Himalayan region, coastal regions, and health and disaster management. Industry can help control climate changes by using materials more efficiently, reusing, recycling, minimizing waste; currently under-used in policies and practice."

K Babu Rao retired scientist from IICT said: "There are no signs of Indian Industry moving towards climate compliance. Sadly, the industry is opting for small coal-fired inefficient captive power plants even now. There is no economy without environment. Cost of environmental degradation in India according to World Bank is staggering Rs 3.75 lakh crores per year and 23 per cent mortality among children." He added, "Top 1 per cent emitters globally caused almost 25 per cent emissions since 1990. World has to leave coal, gas and oil to sustainable lives. We need growth – a growth which emphasizes sustainable economic progress to foster low-carbon, socially inclusive development."