Climate change has become an imminent threat looming over us. From forest fires in California to floods in Germany, droughts in Central India to flash floods in the North-Eastern states, we have been witnessing the impact of climate change globally and regionally, with increasing frequency and intensity for the past few years. As per the global risk perceptions survey of 2022, three out of five major risks perceived by the world are environmentally risky and the top-ranked risk lies in ‘Climate Action Failure’.
It is imperative now to look deeper and ponder over the impacts in terms of economy, society and the environment. Economic impacts of climate change can be in the form of loss of agriculture due to droughts, increasing unemployment in certain sectors like fisheries owing to temperature rise in the sea, climate-change-related health issues leading to reduced productivity of employees and so on. Social impacts include loss of livelihood, increased unrest in societies affected by climate change and rising inequality. Environmental impacts are often discussed at length, and it includes flash floods, droughts, erratic spells of rainfall and heat waves amongst others.
Jessica Bernard is a Sustainability Consultant with one of the leading Big Four consultancy firms. She is based in Mumbai and works on circular economy, climate change, international development and ESG advisory.