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Global warming is most probably one of the most discussed topics in the past few years. There have been books, novels and movies pictured on the concept. It means that the average temperature of the planet earth tends to rise gradually, including its oceans and land. The debate is still growing however scientists have succeeded in proving that the temperature of the planet is rising each passing year. This trend in earth’s climate has led to serious effects on the environment and economy.
Global warming is a serious threat to the entire planet and economy is no different. The process has had massive effect on the economy. To understand better let’s consider a few aspects of how the economy has suffered or will suffer in the future. Due to the floods, sea-level rise, devastating storms and wildfires caused by global warming millions of people become homeless each year. The infrastructure gets damaged on a larger scale including the roads, hospitals, bridges, sky-scrappers, airports, railway tracks, water dams, power houses and levees. Heavy rainfalls and thunder storms delay the harvesting and plantation of crops on a major scale. This leads to delay in the overall production of goods and eatables. The delay affects the farmers, distributors, suppliers, consumers and households all on different scales. The severe climate results in airborne diseases which reduce the productivity of workforce and an increased absenteeism rate in schools it gets impossible to travel in extreme weather conditions and many corporate meetings are postponed which leads to lower productivity. People who suffer from natural calamities are often forced to leave their homelands and migrate to other areas. These mass migrations result in social disruption, employment issues, and resource problems and may even require military intervention from time to time. After the destruction new societies are planned and reconstructed. The reconstruction process is more expensive than the previous one as the value of money has fallen by now and more money is required to build lesser buildings than in the past. The process also involves clearing up the left overs and fixing the power, drainage, sanitation and gas lines. This is quite time taking and costly both. To avoid the global warming scientist suggest using energy efficient methods and reducing carbon emissions to the maximum.
There have been alternatives and solutions provided by many public and private firms for products that were not environment friendly. However the problem here is that these ozone friendly devices and processes are too expensive to afford. The government on other hand has to take precautionary measures which mean building sea walls, using warning systems for heat waves, building energy efficient housing societies, investing on environment friendly agricultural policies. However these all will still be high cost and will certainly lead to a negative effect on economy.
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