CLIMATE CHANGE AND IT'S IMPACT ON GLOBAL ECONOMY

ABSTRACT

This research has investigated how the global system is affected by climate change. The Earth's history has been marked by both natural variability and climate change variations; nevertheless, in recent times, the concentrations of greenhouse gases (GHGs) in the atmosphere have been experiencing extraordinary growth in both pace and size. Natural and man-made factors are the two groups of causes of climate change. According to the report, there is a danger that climate change poses to humankind, and both real climate change mitigation and climate adaptation depend on more efficient and effective policy alternatives for addressing roadblocks and hurdles. To assist scientists and policymakers in identifying obstacles that could postpone climate change adaptation, a number of frameworks have been introduced. According to Susanne Moser and Julia Ekstrom of the University of California, a framework based on common stages of rational decision-making—understanding the issue, developing, assessing, and choosing appropriate responses, and managing and evaluating the implementation of those responses—was developed after they combed through hundreds of academic papers to gather information on obstacles to climate adaptation and potential solutions. Their research produced a conceptually rich, multi-phase schema that may be used for any kind of climate adaptation due to its extreme flexibility.