The Economy vs the Environment 

 

The links between the economy and the environment are copious: the environment provides resources to the economy, and acts as a sink for emissions and waste. Natural resources are essential raw materials for production in many sectors, while production and consumption also lead to pollution and other pressures on the environment. Countries have been forced to make a tough choice between Economic development and the Environment.

On paper, about 197 countries have made the decision to go clean and carbon neutral by signing the Paris Agreement, a legally binding international treaty on climate change, but prominent action based on the agreement is yet to be seen.

 

China suffers from horrifically bad air pollution and its carbon-intensive industries have caused additional environmental challenges. In response, the Government implemented policies to curb emissions. However, following through won’t be easy, as the government struggles to maintain economic growth. China’s Belt and Road Initiative(BRI), where it plans to build hundreds of coal-fired power plants in countries around the world. Greenhouse gas emissions in more than a dozen BRI countries have soared. Researchers found in 2019 that BRI could drive the global average temperature to increase by 2.7°C, which is highly concerning as the Paris Agreement is working to limit global warming to well below 2 degrees Celsius.

 

The West is no better

Canada is warming twice as fast as the rest of the world, according to a government report. That report also warned that drastic action is the only way to avoid catastrophic outcomes. The scale of Alberta’s oil sands operations, the world's largest industrial project, is immense. Even as Canada promotes action on climate change on the world stage, the Canadian and provincial governments are pushing to expand oil sands operations—which brings substantial economic benefits to the region.

 

USA urged other countries to do more in the global initiative towards a greener planet, stressing the world "cannot afford to wait" at a virtual summit hosted by South Korea.The US' special climate envoy John Kerry told the P4G climate conference hosted by South Korea: "We are pressing other countries to step up their ambitions as well.”,  but reports show that the Biden administration lawyers are defending oil and mining projects at the expense of environmental groups challenging the projects. The administration’s recent decisions to advance oil projects goes against everything the Biden administration promised.

 

 

The environment and the economy are on two sides of a scale, if one increases the other decreases. The only way to survive is to maintain an equilibrium and reduce our dependence on the environment. I would like to end this report with a quote by Greta Thunberg, “I want you to act as if your house is on fire. Because it is”

 

 

 

 

 

By- Mridhul Krishna