India’s Turning Point: How Climate Action Can Drive Our Economic Future

Subject – Environment

Context – ‘Climate action, a $11-tn opportunity for India’.

Concept –

India must act now to prevent the country losing $35 trillion in economic potential over the next 50 years due to unmitigated climate change, says a new report from the Deloitte Economics Institute.
The report, ‘India’s Turning Point: How Climate Action Can Drive Our Economic Future’, also reveals how the country could gain $11 trillion in economic value instead over the same period, by limiting rising global temperatures and realising its potential to ‘export decarbonisation’ to the world.
With no action taken on climate change, average global temperatures could rise by 3 degrees Celsius or more by the end of this century. This will make it harder for people to live and work, as sea levels rise, crop yields fall, infrastructure is damaged, and other challenges emerge, threatening the progress and prosperity that the nation has enjoyed in recent decades, said the report.