Introduction:
The consequence of global warming will be felt across social,
environmental and economic part of human life; for example social impact
through increasing floods, droughts and environmental impact through melting
ice, increase in temperature and economic impacts through market uncertainty,
loss of business and agricultural activities. Global warming is a direct result
of unnatural anthropogenic activities that has been proved by science and will
have an impact on the world economies in many ways such as; fresh water
resources, agricultural activities, sea-level rise, health of ecosystem, human
health, quality of life and overall cost impacts to the economy. Globalisation
has contributed in many ways towards climate change through increased quick
turnover of human and natural capital in various activities and trade.
Climate change is evident as explored in this essay and has already
taken place in many parts of the world. Any impact to fresh water resources, agriculture,
sea-level rise, earth’s ecosystem or human health will have follow on effect on
quality of life of humans. The world has become ONE global economy. Monetary
impacts of climate change are not easy to estimate but it can dramatically
affect the GDP of any country that is vulnerable to climate change. Developing
nations will require continuous support from developed countries along with the
expertise to combat with climate change effects. The result can be devastating
if carbon emissions are not controlled. Monetary impact is one part but the
overall cost to the life on earth can be devastating.
Impact of global warming to world economy:
This naturally occurring greenhouse
effect allows the global temperature to about 15°C to be able to sustain life on
Earth. IPCC 2007 report states that eleven out of last 12 years as of 2006 rank
among the warmest years in the record of earth’s surface and defines that
“Warming of the climate system is unequivocal, as is now evident from
observations of increases in global average air and ocean temperatures,
widespread melting of snow and ice and rising global average sea level” (Pachauri, Reisinger, & IPCC Core writing team,
2007) . Since last many years’ scientists are
alerting the world that climate change is taking place which is mainly caused
by various activities practiced by humans. Though it will be at global scale, the
change will be felt across the borders at local, regional and national level.
The impact of global warming will include social, environmental and economic
effect (Nursey-Bray & Palmer, 2008) ; for example social
impact through increasing floods, droughts and environmental impact will be
melting ice, increase in temperature and economic impact will be on world
businesses, health of individuals and agricultural activities. Since industrial
revolution, carbon dioxide has increased by 30% mainly due to human activities
and deforestation (Houghton, 2005) and will continue to increase if not
controlled. The Kyoto Protocol was accepted between 37 industrialised countries
in Kyoto, Japan on 11 December 1997; an international agreement linked to the
UN framework convention on climate change (UNFCCC) .
Sun constantly emits energy that strikes our earth and warms the surface. The
greenhouse gases are just sufficient enough to hold and trap the heat and make
earth’s temperature warm enough so the lives on the earth can survive. Since
last many decades as a result of industrialisation and recently globalisations;
humans have induced increasing amount of carbon dioxide and other greenhouse
gases into the atmosphere. At large climate change will have effect on lives of
people, environment and the growth of developing and developed countries. The
impact of global warming will be felt across many areas such as fresh water
resources, agricultural activities, sea-level rise, health of ecosystem, human
health, quality of life and overall cost impacts to the economy (Houghton, 2005) .
Agricultural activities: Agriculture is critical component of
world’s economy. It is anticipated that global warming will create unusual
changes in different parts of the world providing positive and negative
outcome. For example global warming caused by carbon emissions would
diminish average yields in United States
and European Community by 20 percent and Canada 18 percent and at the same time
improve yield in northern Europe and Australia by 15 precent, former Soviet
Union 10 percent and Japan 4 percent (Cline W. R., 1992) .
Fresh water resources: Fresh water resources are fundamental
element of current climate system. Water is connected to mountain, sea,
atmosphere and the surface of the earth. Many of the world’s fresh water
resources have already been exhausted for example in “India 75% of available
water is so used” (Houghton, 2005) and according to World Bank, India
faces turbulent future in regards to water due to its capacity to build new
water infrastructure and storage since climate change is causing 50% of
precipitation in just 15 days (EIU ViewsWire, 2006) which will have very
serious impacts on water usage for agriculture and industrial activities.
Longer summer and increased precipitation connected with global warming can
cause diarrheal disease that lives in intestines and highly strong to chlorine
disinfection (Spence, 2006) .
Sea level rise: Global warming will lead to increase in earth’s
temperature resulting in rise of sea-level by ice sheets melting or sliding in
to ocean from Greenland and Antarctica, expanding sea water and melting other
mountain glaciers (Oguz, 2009) . Many coastal areas, wetlands and fisheries
will be impacted as a direct result of this change. It has been observed that
increasing sea level is consistent with global warming as per IPCC Synthesis
report. Only future will tell.
Earth’s ecosystem: Ecosystem is vital component of the earth’s
structure. Any harm to ecosystem means disturbance in earth’s health. Climate
change and increasing temperature through natural and human induced activities
will have an impact on the ecosystem.
Human health: Global warming due to increased carbon emissions will
have fatal impact on human health. Health of individuals can be impacted due to
many reasons and climate change is definitely one of them. Global warming can
affect human health in many ways either directly, indirectly or through changes
in economic conditions. Change in climate can have severe impact on human body;
for example person living in cooler weather is more used to cold vs person
living in hotter weather. Air pollution produced through burning fossil fuel
has many impacts on human health. Evidence suggests that both developed and
developing nations are victims of increasing air pollution through greenhouse
gas emissions (Aron & Patz, 2001) . Through many
changes in technology developed nations have been successful in achieving clean
air but many developing nations are still struggling with poor air quality and
therefore deteriorating human health. Changing weather pattern will require adjustment
in human habits and ability to adopt those changes along with the required
tools and capital.
Quality
of life: Any impact to fresh water resources, agriculture, sea-level
rise, earth’s ecosystem or human health will have follow on effect on quality
of life of humans. The energy demand has increased dramatically generating CO2
and GHGs emissions. The world has become ONE global economy. Impacts of one
country can easily be felt by another country. Scarce resources of poor country
are being exhausted by rich countries when and where possible in this resource
constraint world. According to UN Report wealth of distribution of wealth
between rich and poor nations are unequal (Human Development Report, 2000) and therefore poor
nations are left with worsening conditions of climate change, disturbed
ecosystem, varied health issues, and lack of food and water.
Conclusion:
Economic impact of global warming
will be devastating if countries are not equipped with necessary tools to
identify and mitigate certain practices that emit carbon dioxide in to the
atmosphere. Monetary impacts of climate change are not easy to estimate (Auffhammer, 2008) but it can
dramatically affect the GDP of any country that is vulnerable to climate
change. Developing nations will have many challenges from altered ecosystem,
fresh water and food supply, healthcare, large migration and overall growth of
the economy. Developing nations will require continuous support from developed
countries along with the expertise to combat with climate change effects.
Proactive adaptation in current practices where carbon dioxide and other
greenhouse gases are emitted would support the world’s economy to overcome
effects of global warming.
Human health will require great
attention to ensure that the impacts of climate change is measured and dealt
with at local, regional and national level with appropriate medical facilities
and drugs. Rising sea levels will force large migration from coastal areas to
in-land which will demand strong infrastructure and proper land management.
In-land migration with increasing population will be a huge challenge for any
country because it will require more food, water, shelter, health, suitable
climate and obviously strong ecology system on which the whole of humanity and
economy is dependent.
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