more-inCarbon dioxide emissions are costing the Indian economy up to $210 billion every year, according to a global study which found that India is likely to suffer highest economic damage from climate change after the US. Researchers estimated country-level contributions to the social cost of carbon (SCC) using recent climate model projections, empirical climate-driven economic damage estimations and socioeconomic forecasts. At current emission levels, the Indian economy loses $210 billion annually, said Ricke, corresponding author of the study published in the journal Nature Climate Change. This means that the nearly five billion metric tonnes of CO2 the US emits each year is costing the US economy about $250 billion. The model accounts for everything that happens in the economy today that is sensitive to environmental conditions, said Ricke.

Source: The Hindu September 27, 2018 10:02 UTC