Tragedy of the Climate Change

What exactly happens because of climate change?

The floods in Germany and the heatwave in Canada and Moscow killing hundreds. It’s not just the poor nations but rich nations as well that are facing the heat. On an average we have observed the global temperature increasing by 2 degree Fahrenheit. However, 2 degree is an average; for instance, in the Arctic, the temperature has gone up by about 4 degree Fahrenheit and that has lead to increase in sea levels to some extent.

The Cause: Climate change! Or it this the Effect? The effect of our industries demanding resources for producing the products that we want? Or is it the cycle of warn weather forcing us to switch-on the air conditioner, which in turn impacts the weather getting warmer even more? Or is it our transportation system that is the problem? Where does the solution lie?

Here’s an example: India’s 80% of energy needs are fulfilled by Coal-generated electricity (these are the estimates published in The Economist Magazine, refuted by the Government of India). Remaining 20% comes from renewable energy source. For Australia, its 65% and 35% respectively (Australia did not refute these estimates). Even if we move to Electric Vehicles in India, the electricity that would end up charging our vehicles would predominantly come from Coal, which is a more severe pollutant than the Petrol or Diesel we use. The North of India faces severe heat during summers and it gives an excellent opportunity to switch to Solar energy. The problem: Real Estate and weather with low visibility during winter. Nuclear energy is now being dissuaded across the globe because of the nuclear waste, which can be harmful. Japan’s Fukushima is a good example of the cost a nation pays to move to non-traditional energy generation.

Now, that’s the tragedy of the Climate Change.

PS: This is the part of my study on Climate Change and its impact under the broad topic of Tragedy of the Commons. Next week: Some learning from countries which are trying to address this issue.

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Ph.D. in Economics, Passionate about Game Theory, a biker, a Father, Son, a brother, a husband, a friend, and unfriend … just like you!

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Sandeep Bhasin

Sandeep Bhasin

Ph.D. in Economics, Passionate about Game Theory, a biker, a Father, Son, a brother, a husband, a friend, and unfriend … just like you!

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