India is at the economic intersection right now.
Either it will suffer a $35 trillion deficit due to everlasting effects of climate change in the next 50 years or to be an economic powerhouse of $11 trillion for the same period of time by changing its policy toward more positive climate action, according to a new report from the Deloitte Economics Institute.
Atul Dhawan, the Chairperson of Deloitte India highlighted the importance and urgency for India to take action now.
“We have a narrow window of time—the next 10 years—to make the decisions needed to alter the trajectory of climate change.
“No one is immune to the impact of climate change, but for India, this is a window of opportunity to lead the way and show how climate action is not a narrative of cost but one of sustainable economic growth.
Dhawan also said everyone has to be on board to achieve this vision.
“As India aspires to be a US$5 Trillion economy, it is not just foreign and domestic investments that will be key in driving growth, we must also take this opportunity to align our ambitions with climate choices.”
Intergovernmental Panel on Climate Change (IPCC) released a report earlier this month said it is “unequivocal” that human cause the climate change and “code red for humanity”
“It has been clear for decades that the Earth’s climate is changing, and the role of human influence on the climate system is undisputed,” said IPCC Working Group I Co-Chair, Valérie Masson-Delmotte.