Question

What are some economic implications of climate change and/or environmental protections? How has COVID-19 impacted the implications on the environment?

Answer 1

With rising sea level, warmer temperatures and fluctuating weather, there can be catastrophic affect on human health, infrastructure, labor productivity, industries, etc. Climate change is likely to negatively impact a country's economy. Acoording to a study, USA and india would be the highest cost bearers of climate change in the coming times. It negatively affects all sectors from agriculture to industrial as well as tertiary sector. It disrupts trade and commerce and impacts suypply chains all over the world. In a globalised world, damage to other countries due to climate change are likely to impact the rest of the world as well.

With the ongoing pandemic, the entire world economy has come to a standstill. With less economic activites happening around the world, the planet has had some time to heal. Pollution levels have fallen drastically all over the world, natural water in most countries have started clearing up due to the decrease in industrial activities. Even though the pandemic has impacted the world terribly with increased fatality and distrupted economies, there has been a positive impact on the environment.