In the context of the 21st century, when humans on earth are faced with an existential crisis from global warming and climate change, sustainable growth and development will need to be aligned to save the nation and the planet from approaching armageddon.
The Northern Hemisphere, which contains most of the landmass, has seen a rise of 0.8 degrees celsius in the past twenty years alone. The polar ice caps are rapidly melting. The largest and the most prosperous and populated regions face the greatest threat to the expected rise in sea levels.
The most populous regions of the world like India, China, East Asia, and others need the energy to grow and prosper. Most of the current energy sources are still fossil fuel-based.
The transition to green energy sources faces technological and cost challenges. Technologists are working hard to develop better energy storage technologies. Soon many of these technical barriers too will get breached, paving the way to an enhanced pace of transition.
A financial infrastructure must support the transition to cleaner, climate-friendly technology to fund and drive growth. Long-term and short-term investment has to be made available to help the change.
Policymaking has a major role in driving and sustaining these changes. Regulation and incentives to support the transition to a green economy have to be put in place. Disincentives will also need to be brought in to prevent interest groups from perpetuating the fossil-based economy’s status quo.
The role of policymaking is critical to sustainable climate-friendly transition.

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Sudhirahluwalia, Inc