The Economics of Climate Change in India and Relevant Actions: A Systematic Review

Abstract

In this article, researchers analyse how India’s climate change policy is framed, formulated & implemented and propose to address various domestic and international interest. This article examines the impact of climate change on India's GDP, with a focus on the Nationally Determined Contribution (NDC) and the commitments made under the Conferences of the Parties (COP). As per the projection of International Energy Agency, “nearly 60% of its CO2 emissions in the late 2030s will be coming from infrastructure and machines that do not exist today”. As a result, India’s policy change will have a significant weightage on the outcomes of the climate change policies taken globally.

Researchers discuss the global emission trends, climate change impacts and India’s international & domestic climate policies—from Paris to UAE. Furthermore, researchers examine the progress that Indian policymakers have made and draw attention to shortcomings in India’s climate change policies, particularly concerning continued investment in coal despite the country’s widely lauded efforts to embrace renewables. Highlighting the importance of bringing “Just transition” to achieve sustainable development by providing weightage on all three aspects of sustainable development viz: ‘Economy, Politics and Social aspect’.

In this paper, analysis of the greenhouse gas emission status, effect of climate change, effect on Indian Sub-continent, policies addressing climate change in India, limitation and opportunities on India’s economy has been carried out.