Question

Effect of global warming on the economic

1) Pro’s and con’s economically

2) economic recommandations based on research

( provide details)

Answer 1

Global warming is causing rise in global temperature. Rise in temperature has numerous implications for economies of world:

1)

Pro's:

• Global warming has made now possible to shift human settlements to upper reaches of mountains due to melting of glaciers. Now these glaciers are making land available for various economic activities.
• Global warming led to the investment in new and clean technologies.
• Global warming has created jobs in hitherto neglected areas.

Con's:

• Level of sea is rising and vast land has been submerged under the sea. water level is rising in coastal areas.
• global warming has caused erratic pattern of rains and it is affecting agricultural sector adversely.
• Ocean biodiversity has been severely affected due to rise in temperature of sea. Coral are dying due to rise in temperature.

2)

Recommendations:

There must be international consensus to reduce the temperature, following measures can be taken:

• Increasing taxes on carbon emission as it will help to reduce carbon emission.
• Introducing carbon trading in developing countries.
• Transfering clean technology to developing countries.