A recent report by a team of US scientists at the University of Arizona has suggested that owing to the climate crisis, the world could see a dramatic extinction of over a third of all plant and animal species in the next 50 years.
The unbelievable figures are based on a study which identified the maximum temperatures, as a result of global warming, that would lead to the extinction of certain species which would not have time to migrate to cooler habitats.
Whilst this study is only the result of one research project, the extreme nature of their findings paints a very bleak picture of the future if global leaders do not act faster to tackle the growing threat of climate change in all corners of the world.
The persistent pursuit of high levels of economic growth around the world, combined with the seemingly endless desires of human beings, has resulted in the climate disaster we are facing today.
For years, governments have been implementing policies such as environmental tax, pollution permits, fines, investment in renewable energy sources, the planting of trees… the list goes on. The problem however, is that the crisis is only getting worse. It would seem that even our beloved economics cannot solve this problem alone, and rather a long-term political solution is needed.
THINK LIKE AN ECONOMIST!
Q1. What is meant by the term economic growth?
Q2. Explain one reason why economic growth has had a negative impact on the environment.
Q3. Choose one of the policies outlined in the article that have been used to combat climate change. Assess the extent to which this policy can be effective in promoting environmental protection.
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