A report titled
Many studies suggest that India’s growth will lag due to climate change, world Bank estimates a 2.8 per cent annual hit to India's GDP by 2050, Deloitte Economics Institute estimates that the world is on a path to a 3 degree celsius rise in temp and India stands to suffer losses of $35 trillion by 2070.
"Even in a best-case climate scenario, the impact of the climate crisis on the Indian economy will be far-reaching, Our analysis indicates that the banking sector is not prepared to adapt to an economy whose foundations will undergo significant challenges, and it is, for the most part, not stepping up to finance adaptation and mitigation efforts on the scale needed. The good news is that some banks are starting to take steps in the right direction." says Ashish Fernandes, CEO of Climate Risk Horizons and one of the authors of the report.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
