Climate Changing = Economics RIP?

Global Warming, the Green-House Effect, what else could be on our list of imperfections we have committed for the past 100 years?

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NASA Climate

For the past couple of decades, humanity has came across several rapidly growing potentials, that may severely harm our natural substance here on Earth. The factors were named later on, and they turned out to be the most obvious initiators ever to be thought of: plantations, factories, gasoline cars, factory wastes and etc.

Yet, what is the solution towards such a devastating issue? Once again, some answers have been given in order to calm the whole situation down, and allow the populace observe the current ‘plannings’ of what we might do in accordance to surmounting this upcoming imperfection.

Authorities First, as Always

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According to the report from the United Nations Intergovernmental Panel on Climate Change (IPCC), which sets out precisely what must be done to achieve the objectives of the 2015 Paris climate agreement.

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This should serve as a wake-up call for the international community. The IPCC report appeals to governments to take urgent action to reduce greenhouse-gas emissions significantly within the next decade. It warns that if average global temperatures are allowed to exceed 1.5°C – or, at worst, 2°C – above pre-industrial levels, the consequences could be catastrophic, and they will be felt as soon as 2040.

The Real Issue we might or already be facing

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The problem with this approach is that it is inequitable toward future generations, which, of course, have no say in decisions that we make today. By definition, their welfare is being discounted. Yet were we to take inter-generational equity seriously, the leading factor to consider is that future generations will have better technologies than what we have today. Therefore, the appropriate social rate of discount should be equal to the rate of technological change, which is much lower than market interest rates.

One could also argue that the traditional economic analysis is even inequitable toward individuals, in addition to future generations. Just ask an older person with an inadequate (or nonexistent) pension whether his present welfare is worth less than his past consumption.

What are we supposed to do then?

The answer is pretty close to something nearly cliche, yet extremely important. Every time we go out outside with a plastic bottle of water in our hands, it would be high time to think about WHERE you would throw it away once you’re finished. Thousands of animals every year die from the simple mistake of us, human beings, while littering in every national park, amusement area, or even our own backyards!

Turtles bundle in plastic can holders, birds incapable of finding a spot for building their nests, homeless domestic animals wandering around the streets, in need of shelter and even if found, forced to live among massive piles of garbage.

If we waste about 10 minutes of caring for our one and only planet Earth, the land would surely become a better place as for the environment, so for our health.

Throwing recyclable products in specifically dedicated bins, trimming and cleaning your local gardens will bring immense improvement. Thankfully, companies like Tesla are already working on the production of electric vehicles to fulfill the desire of returning the initial magnanimous level of beauty Mother Nature had millions of years ago.

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A Consensus invades!

The message from the IPCC report is clear. All countries must raise their emissions-reduction targets and strengthen their commitments under the Paris agreement.

We all know that if nothing happens beyond, then we might not only lose our own economy, but lose our cozy homes and most likely animals.

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