The Economics of Climate Change - Report Example

Something weird is happening to the world’s weather” (Underhill, par This may just be the under ment of the year, and Filipinos know it. The recent onslaught of typhoon ‘Ondoy’ is a clear indication that there might really is something wrong going on. With rainfall that’s supposed to be accumulated for one whole month fell in six hours all signs point to this. While experts do not directly direct the blame on climate change, they are not also saying otherwise. All they can say is that as always more research is needed. This was not unprecedented in the Philippines, the same event but to a lesser magnitude also occurred in 1972 and 1976. If this is not a clear-cut sign that there is something ‘weird’ about the weather then there’s no telling what is. Rosa Perez of the Manila Observatory said, “This is really a very intense rainfall. Based on initial calculation, the return period of such rainfall is one to 100 years, but that doesn’t mean that this event will occur only once in 100. The intensity, in probability, is one in 100” (Legaspi, par. 6). She stressed on the Senate hearing conducted to try and figure out why almost 300 people died and thousands were left homeless that it cannot be concluded based on a singular event. What is needed are more research and better facilities to better understand these typhoons. With billions of pesos lost in this catastrophe, the stories of terror by the victims once again leaves the government in a bad light. The prevalence of reactive measures rather proactive ones are again apparent in this disaster. Climate change may just be the most pressing issue of our generation. It has become not merely a political issue but a moral one. Humanity’s capacity to dig itself out of the hole that it has created is a universal matter where everyone has to take part in order to ensure life as we know it. The complacency and lack of knowledge which surrounds the billions of people populating the earth cannot be tolerated. Each person’s carbon footprint is scaling further and further and the effects that it brings are already being felt tremendously. Sooner or later we are still the ones who will suffer the consequences, all that we can hope for now is that it is the latter rather than the former. The Economics of Climate Change It is undeniable that climate change is also an economic issue. Because of the effects brought about by it then it cannot be helped that Gross Domestic Product will be affected. Agriculture may be the hardest hit by typhoons and other natural disasters. This is a domino effect as prices will continue to increase as supply decreases. Whenever a typhoon hits an agriculture area then crops and livestock will be compromised. This in turn will cause food supply to diminish and prices are sure to amplify. Because these prime commodities are essential then consumers have no other choice but to purchase at prices comparatively exorbitant than what they are used to. Their purchasing power in essence becomes weaker and weaker. Infrastructures are also dependent upon this because if roads or bridges are damaged because of natural disasters then the same outcome occurs. Industries are also affected. What happened with ‘Ondoy’ is a clear example of this where many workers were not able to go to work because of the trauma and devastation brought about by the typhoon. Almost the entire Metro Manila was shot down for weeks due to the destruction. Workers cannot go to work because of the flood or its devastating aftermath. Production in companies was little no none as workers had to attend to their families and their homes. This cost companies millions of pesos that can never be restored. The government is sure to exceed its fiscal spending within the year as it has to deal with putting back the pieces in the country once again. The frightening idea is that this is most definitely not the last of its kind. Being situated in an area where typhoons are sure to strike anytime, its ruinous tendency is at the highest. The Irony of Climate Change There is a dark cloud to climate change. The sad reality is that the United States of America and almost all other rich nations will be left unscathed because they are not located near the equator and they have the financial power to adapt. Summers will be unbearable and droughts may very well be subsequent events. As the scorching heat of the sun further intensifies in tropical countries, the same cannot be said for others. While summers become intolerable for some, Europe and other nearby regions will have hotter but still comparatively tepid weather. The issue lies in these countries propensity to help other nations combat and implement measures against global warming. Extreme cases of ‘el nino’ and ‘la nina’ will once again be felt. The effect this has on health is also tantamount. Risks for skin cancer and other skin disorders will elevate. Other diseases which are weather related such as heat stroke will also spike during specific seasons. As the polar icecaps continue to melt water level will increase and this will result to floods and other resulting scenarios. On the bright side of it, areas which used to be inhabited will turn into fertile plains while deserts will grow larger. Global warming will be beneficial to countries such as Scandinavia, Russia and Canada as they will have gain in agriculture, lower deaths during winter, reduced heating cost and a possibility for tourism prospects (Underhill, par. 9). Adapting to Climate Change Climate change is a reality that we have to adapt to otherwise we will be consumed by it. Our capacity to adjust in order to cope with the times is the ultimate test of our species. The matter is already at hand and question now becomes what we do about it. We may not be aware of it but we are already doing things that ultimately help in the grand scale of things. It should be remembered that pessimism is not the key to all of these. There should be objectivity in looking at the situation that we also have no choice but to consider the positive effects it has on us as human beings. Countries and people have the capability to shape their fate in these times. There should be a flexibility to be able to answer the call of the times and not merely dwell on the situation as it presents itself. It has to be remembered that we have the answers and what is necessary is to augment the level of how they are implemented. It seems like a tale of a dog catching its tail. Technology is swift n trying to taunt or at the very least slow down the process of how humans pollute the environment but the growth of the population and the presence of other pollution causing materials offsets all these innovations. Televisions for example, including monitors, are now more energy efficient than conventional crt tv’s, the same goes for incandescent and fluorescent bulbs which are now replaced by energy efficient lights. But then again there is the matter of how many people are now using televisions and how many lights does each household have. This disparity between the measures points out that one can only go so far. The need for the utilization of renewable energy is of the utmost import. We are already burning through our fossil fuel reserves and the effects that it has is not something we can turn the other cheek to. The promotion and usage of renewable energy should be properly administered. We know what to do and we should do it. The future generation should be taught and they should be taught well. Simple things such as segregating waste and recycling are important in this global effort to answer the dilemma of global warming. The value of planting of trees should also be put to heart. The Green Revolution is not merely a fashionable statement but a moral stand. We should not let it reach the point of no return before we acquiesce to doing something about it. After all this is not a battle only for today but for the future. It determines our capacity for change. This is the basic principle of evolution, of how we change ourselves as the world changes around us. Typhoon ’Ondoy’ through the entire trauma it has brought also tested the nation as a whole. It was a test of character and of the people’s ability to respond. Because sometimes even an entire nations needs a jolt to rouse it to the reality of the world and what is happening. Something is clearly wrong but how do we react to it? Obviously not by standing still and feeling incapacitated by the situation. No, we face it head on and prepare that should it happen again we would not be left in the dark, shivering in the cold, not knowing what to do, and waiting for something that may never come. And should the same happen to others our compassion shines through. Bibliography Asian Development Bank. The Economics of Climate Changein Southeast Asia: A Regional Review. Jakarta, April 2009. Dickey, Christopher and Tracy McNicoll. "A Green New Deal." Newsweek (2008): 19-23. Legaspi, Amita. " Experts Not Blaming Climate Change for ‘Ondoy’." Philippine Daily Inquirer 5 Oct. 2009: n.pag.Web. 10 Nov. 2009. Underhill, William. "This Way Forward." Newsweek (2007): 36-44. Vencat, Emily F. "Emitting Markets." Newsweek (2007): 45-47. Read More