Prof. Purnamita Dasgupta from the Institute of Economic Growth delivered a keynote address on the intricate relationship between climate change and sustainable development titled “Climate Change and Sustainable Development – Equitable and Integrative Action” at the 23rd IASSI Annual Conference held at BIT Mesra, Ranchi, from October 25th to 27th, 2024.
Prof. Dasgupta emphasised the crucial role of economics in understanding and shaping climate-friendly policies. However, she also highlighted the multifaceted nature of development, which extends beyond economic considerations. The persistence of historical challenges, coupled with contemporary risks, necessitates a comprehensive approach to address the evolving threats to sustainability.
The keynote address delved into the significant impacts of climate change on developing countries, both physically and socio-economically. Prof. Dasgupta introduced the concepts of adaptation and mitigation, providing real-world examples to illustrate their implementation. A key focus of the address was the transition to a net-zero carbon economy. Prof. Dasgupta discussed carbon pricing mechanisms like the Carbon Border Adjustment Mechanism (CBAM), carbon taxes, and carbon trading as potential tools to incentivise emissions reductions. However, she also acknowledged the challenges of fair implementation and revenue generation associated with these mechanisms.
To achieve a harmonious balance between climate change and development, Prof. Dasgupta advocated for a holistic approach that integrates economic, social, and environmental dimensions. She emphasised the importance of equity and justice as guiding principles in climate and development initiatives.
In conclusion, the keynote address provided a comprehensive overview of the challenges and opportunities at the intersection of climate change and development. It underscored the need for innovative and equitable solutions to address both the immediate impacts of climate change and the long-term goal of sustainable development.