Navigating the Intersection of Climate Change and Economic Growth: Insights from CEEW Chief Arunabha Ghosh
Key Ideas
- Climate change is now recognized as a critical economic risk, with five out of ten identified risks related to climate change, biodiversity loss, or extreme weather events over the next decade.
- Integration of renewables into the energy system, electrification of the economy, and industrial sustainability are key strategies for sustainable growth.
- India is making strides in green initiatives like the critical minerals mission, steel mission, and green hydrogen mission, alongside efforts in domestic manufacturing of cleantech products.
- The focus is on building a financial and manufacturing ecosystem around clean energy infrastructure to advance low-carbon activities and achieve sustainable economic development.
Arunabha Ghosh, the chief of CEEW, highlights the shift of climate change from an environmental to an economic issue, stressing the importance of leveraging disruptors for sustainable growth. Climate risks are now a major business and economic concern, requiring deeper integration of renewables, electrification, and industrial sustainability. He emphasizes the need for a holistic approach considering resource limitations and environmental complexities. Ghosh praises India's initiatives such as critical minerals and green hydrogen missions and efforts towards defining green standards. India's focus on domestic manufacturing and indigenization of clean energy technologies demonstrates a commitment to sustainable growth. Ghosh underlines the intersection of climate and industrial policies and the importance of rebuilding global trust for a resilient economy. He commends India's achievements in meeting climate goals ahead of schedule and advocates for investing in future technologies for sustainable economic transformation.
Topics
Policy
Green Hydrogen
Climate Change
Technology
Sustainability
Manufacturing
Global Economy
Renewables
Economic Growth
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