Impact of climate change on the economy from "summary" of Oswaal NCERT One For All for UPSC & State PSC's Indian Economy Classes-9 to 12 (Old & New NCERT Edition) (For 2023 Exam) by Oswaal Editorial Board
Climate change has become a significant concern for economies worldwide due to its potential impact on various sectors. The economy is closely linked to the environment, and any changes in the climate can have far-reaching consequences. One of the main ways climate change affects the economy is through extreme weather events such as hurricanes, droughts, and floods. These events can damage infrastructure, disrupt supply chains, and lead to crop failures, all of which can have a negative impact on economic growth. In addition to physical damage, climate change can also affect the economy through changes in productivity and labour supply. Rising temperatures can reduce agricultural yields, leadi...
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