XDI’s Gross Domestic Climate Risk
The Gross Domestic Climate Risk report recently released by XDI reveals that climate change will have a severe impact on the economies of India, China, and the US. This article discusses the report’s findings and focuses on India, which is one of the most climate-risk-prone territories in the world.
Impact of Climate Change on India
According to the XDI report, 14 Indian states will remain among the top 100 most climate-risk-prone territories worldwide by 2050. These states are expected to face extreme weather events such as floods, droughts, heatwaves, and cyclones. Bihar, with a global ranking of 22, is predicted to be the most vulnerable region in India. It is followed by Uttar Pradesh (25) and Assam (28). The northeastern state of Assam stood first among the top 50 vulnerable regions in terms of increasing climate impact from 1990 to 2050.
The report highlights that climate change will affect all sectors of the Indian economy, including agriculture, industry, and services. The agricultural sector will face the most significant impact due to changes in temperature and rainfall patterns, leading to crop losses and reduced productivity. The energy and transportation sectors will also face adverse effects due to disruptions in power supply and transport infrastructure.
India’s Response to Climate Change
India is a signatory to the Paris Climate Agreement, which aims to limit global warming to well below 2°C above pre-industrial levels. The country has committed to reducing its greenhouse gas emissions intensity by 33-35% by 2030 compared to 2005 levels. It has also pledged to achieve 40% of its electricity generation from non-fossil fuel sources by 2030.
Indian government Steps
To achieve these targets, the Indian government has launched several initiatives such as the National Action Plan on Climate Change and the National Solar Mission. The government has also implemented policies to promote energy efficiency, renewable energy, and sustainable agriculture. Despite these efforts, India faces several challenges in mitigating and adapting to climate change. The country’s dependence on coal for electricity generation and the transportation sector’s heavy reliance on fossil fuels are significant obstacles to achieving its climate goals. India also lacks adequate resources to implement climate-friendly policies and develop climate-resilient infrastructure.