Carbon dioxide emissions are costing the Indian economy up to USD 210 billion every year, according to a global study which found that the country is likely to suffer highest economic damage from climate change after the US.(HT File Photo)
Carbon dioxide emissions are costing the Indian economy up to USD 210 billion every year, according to a global study which found that the country is likely to suffer highest economic damage from climate change after the US.(HT File Photo)

CO2 emissions cost India US $210 billion every year: Study

“The economic damages model indicates that as temperature rises, economic growth in India will slow,” Katharine Ricke, an assistant professor at UC San Diego said.
By Press Trust of India | Los Angeles
UPDATED ON SEP 26, 2018 05:04 PM IST

Carbon dioxide emissions are costing the Indian economy up to US $210 billion every year, according to a global study which found that the country is likely to suffer highest economic damage from climate change after the US.

Previous research has focused on how rich countries benefit from the fossil fuel economy, while damages accrue primarily to the developing world. However, researchers from University of California San Diego in the US found that the top three counties with the most to lose from climate change are US, India and Saudi Arabia.

“The economic damages model indicates that as temperature rises, economic growth in India will slow,” Katharine Ricke, an assistant professor at UC San Diego, told PTI.

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.

The country-level SCC for the India alone is estimated to be about US $86 per tonne of CO2.

At current emission levels, the Indian economy loses US $210 billion annually, said Ricke, corresponding author of the study published in the journal Nature Climate Change.

For US, the cost is about US $50 billion per tonne. This means that the nearly five billion metric tonnes of CO2 the US emits each year is costing the US economy about US $250 billion.

The model accounts for everything that happens in the economy today that is sensitive to environmental conditions, said Ricke.

“This includes agricultural yields, vector borne disease, reduced worker productivity due to heat, increased frequency of extreme precipitation resulting in infrastructure damages or any of the other many ways that human systems get impacted by climate conditions,” Ricke added.

“The combination and interaction of all these factors translate into an observed effect on the country’s economy as a whole,” she said.

For the first time, researchers have developed a data set quantifying what the social cost of carbon will be for the globe’s nearly 200 countries.

The world’s largest CO2 emitter, China, also places in the top five countries with the highest losses.

“We all know carbon dioxide released from burning fossil fuels affects people and ecosystems around the world, today and in the future,” said Ricke.

“However these impacts are not included in market prices, creating an environmental externality whereby consumers of fossil fuel energy do not pay for and are unaware of the true costs of their consumption,” said Ricke.

For example, claims that carbon dioxide causes relatively little harm to the economy can more easily justify rollbacks on environmental regulation.

“Because this is a macroeconomic model based on empirical observations, this means that everything that happens in the economy today that is sensitive to environmental conditions is reflected in the model,” she said.

“This can be agricultural yields, vector borne disease, reduced worker productivity due to heat, increased frequency of extreme precipitation resulting in infrastructure damages or any of the other many ways that human systems get impacted by climate conditions,” Ricke added.

SHARE THIS ARTICLE ON
app
Close
Partho Dasgupta (centre), the former chief executive officer of BARC India and key accused in the Television Rating Points (TRP) manipulation scam. (HT Photo)
Partho Dasgupta (centre), the former chief executive officer of BARC India and key accused in the Television Rating Points (TRP) manipulation scam. (HT Photo)

TRP scam: Mumbai court rejects bail plea of ex-BARC CEO

PUBLISHED ON JAN 20, 2021 04:38 PM IST
The crime branch alleged that Partho Dasgupta had misused his official position and manipulated TRPs of certain news channels to benefit Republic TV and R Bharat channels
Close
Representational Image. (HT file)
Representational Image. (HT file)

Vaccine Maitri: India dispatches Covishield to Bhutan, Maldives

By Shalaka Shinde
PUBLISHED ON JAN 20, 2021 03:49 PM IST
Further shipments by India will be made for Bangladesh, Nepal, Myanmar and Seychelles, according to a statement by MEA
Close
Kamala Harris particularly struck a chord with Tamil people and her heritage when she called out to her ‘chithis’ (referring to a parent’s younger sister in Tamil) during her speech in August at the Democratic National Convention.(M Roopesh/HT Photo )
Kamala Harris particularly struck a chord with Tamil people and her heritage when she called out to her ‘chithis’ (referring to a parent’s younger sister in Tamil) during her speech in August at the Democratic National Convention.(M Roopesh/HT Photo )

‘Like winning Olympic gold’: Kamala Harris' village gears up for her oath taking

By Divya Chandrababu
UPDATED ON JAN 20, 2021 03:59 PM IST
Joe Biden will take oath as the 46th President of the United State on January 20 and Harris will be vice-president.
Close
Farmers have rejected the committee formed by SC on the grounds that it is pro-government. (REUTERS)
Farmers have rejected the committee formed by SC on the grounds that it is pro-government. (REUTERS)

Farm laws: SC irked over criticism of court-appointed committee members

UPDATED ON JAN 20, 2021 04:20 PM IST
The Supreme Court on Wednesday said there was no question of bias as the committee has not been given any adjudicatory powers
Close
Prime Minister Narendra Modi. (File photo)
Prime Minister Narendra Modi. (File photo)

TMC MP asks PM Modi to publish controversial book on Netaji, IMA

By HT Correspondent | Edited by Sameer
UPDATED ON JAN 20, 2021 03:26 PM IST
Sukhendu Sekhar Roy said that as per an official note exchanged between the MoD and the ministry of external affairs, pages 186 -191 of the unpublished book could add to the view that Netaji may not have died but survived the plane crash in August 1945
Close
BMC workers sanitise the area in front of bird enclosure at Lokmanya Tilak BMC Market , in Mumbai on January 14. (Anshuman Poyrekar/HT file)
BMC workers sanitise the area in front of bird enclosure at Lokmanya Tilak BMC Market , in Mumbai on January 14. (Anshuman Poyrekar/HT file)

Avian flu: 1,795 complaints of bird deaths in Mumbai, says BMC

By Mehul R Thakkar
PUBLISHED ON JAN 20, 2021 02:51 PM IST
Complaints include deaths of crows, pigeons and other birds, but not chicken, said BMC, even as it added that in many cases, there are multiple calls for a single death, raising the number of complaints higher than that of actual deaths
Close
An encounter is underway in Jammu and Kashmir’s Jammu district.(Reuters File Photo)
An encounter is underway in Jammu and Kashmir’s Jammu district.(Reuters File Photo)

4 soldiers injured in Pakistani firing along LoC in J-K's Akhnoor sector

Written by Prashasti Singh, New Delhi
UPDATED ON JAN 20, 2021 03:53 PM IST
The ceasefire violation from across the LoC took place in Jammu and Kashmir's Akhnoor sector.
Close
The victims—all residents of Chainpura village—were travelling in the ambulance that was on its way to Patna from Nalanda, police said.(HT Photo)
The victims—all residents of Chainpura village—were travelling in the ambulance that was on its way to Patna from Nalanda, police said.(HT Photo)

Speeding BMW kills 2 cops in Chennai, driver held

By Divya Chandrababu | Edited by Abhinav Sahay, Chennai
PUBLISHED ON JAN 20, 2021 02:22 PM IST
  • Raveendran, who was riding the bike, died on the spot while Karthik, the pillion rider, succumbed to his injuries at a government hospital around 11am, police said.
Close
Representational Image. (Getty Images/iStockphoto)
Representational Image. (Getty Images/iStockphoto)

India Innovation Index ranking out, Karnataka retains top spot

By HT Correspondent | Edited by Smriti Sinha
PUBLISHED ON JAN 20, 2021 02:22 PM IST
This is the second edition of the metric for assessing the innovation capabilities of Indian states and Union Territories
Close
Pakistani Prime Minister Imran Khan (R) greets Saudi Arabia's Crown Prince Mohammed bin Salman in Rawalpindi, Pakistan in 2019. (REUTERS)
Pakistani Prime Minister Imran Khan (R) greets Saudi Arabia's Crown Prince Mohammed bin Salman in Rawalpindi, Pakistan in 2019. (REUTERS)

Pakistan names general envoy to Saudi Arabia as military seeks control of ties

PUBLISHED ON JAN 20, 2021 02:15 PM IST
The Pakistani ambassador’s position in Riyadh has often been held by retired military officers, reflecting the fact that defence ties form the bedrock of bilateral ties, Dawn reported
Close
With a ballerina’s poise and grace, the deformed myna braves life’s challenges. PHOTO: AMI PRABAL
With a ballerina’s poise and grace, the deformed myna braves life’s challenges. PHOTO: AMI PRABAL

Bird flu in Chhattisgarh: 45 wild mynas die in Bijapur, samples to be tested

By Ritesh Mishra | Edited by Abhinav Sahay, Raipur
PUBLISHED ON JAN 20, 2021 01:57 PM IST
  • The carcasses of the birds were found on Monday and Tuesday near a CRPF camp in Naimad area in the Bijapur district of Chhattisgarh.
Close
Shiv Sena MP Sanjay Raut. (File photo)
Shiv Sena MP Sanjay Raut. (File photo)

Sena questions Centre over reports of China building village in Arunachal

PUBLISHED ON JAN 20, 2021 01:37 PM IST
n an editorial in its mouthpiece Saamana, the Sena said that the country awaits a similar cross-border action against China as was ordered after Uri and Pulwama attacks originated from the Pakistani soil
Close
People even offered prayers at the village temple for Kamala Harris. In picture - A shop in the village hanging a calendar with the image of Joe Biden and Kamala Harris.(Reuters)
People even offered prayers at the village temple for Kamala Harris. In picture - A shop in the village hanging a calendar with the image of Joe Biden and Kamala Harris.(Reuters)

Thulasenthirapuram, Kamala Harris native village in TN, prepares for celebration

ANI, Nagapattinam
PUBLISHED ON JAN 20, 2021 01:35 PM IST
Some people of the village were seen making a traditional recipe 'murukku' to celebrate the occasion. Many were seen cleaning the road and flowering the corners of the roads to mark the victory of Kamala Harris.
Close
Police personnel walk past a bus with farmer leaders before it leaves for Vigyan Bhawan to attend a meeting with the central government over the new farm laws, at Singhu border near Delhi on Wednesday.(PTI Photo)
Police personnel walk past a bus with farmer leaders before it leaves for Vigyan Bhawan to attend a meeting with the central government over the new farm laws, at Singhu border near Delhi on Wednesday.(PTI Photo)

‘What interest do we have’: Supreme Court's clear warning on farm laws panel

By hindustantimes.com | Edited by Amit Chaturvedi
UPDATED ON JAN 20, 2021 02:02 PM IST
The court also issued a notice to the Centre on an application by Bhartiya Kisan Party for filling up vacancy in the four-member committee created by resignation of Bhupinder Singh Mann.
Close
Overall, the framework of India Innovation Index 2020, consists of 36 indicators, which include hard data (32 indicators) and four composite indicators.(Getty images)
Overall, the framework of India Innovation Index 2020, consists of 36 indicators, which include hard data (32 indicators) and four composite indicators.(Getty images)

Niti Innovation Index: Karnataka, Maharashtra, TN top 3 states in innovation

PTI, New Delhi
PUBLISHED ON JAN 20, 2021 01:27 PM IST
The index, released by Aayog's vice chairman Rajiv Kumar and CEO Amitabh Kant, has been developed in the lines of Global Innovation Index.
Close
SHARE
Story Saved
OPEN APP