Economic Impacts

of Climate Change

R.Behruz, Shahzodbek
 Effects of Climate Change on Economy

● Increased frequency of extreme weather events

● Disruption of agriculture and food security
● Rising sea levels and coastal damage
● Health impacts and increased healthcare costs
Economic Costs of Climate Change

● Losses in agriculture and forestry

● Damage to infrastructure
● Increased insurance costs
● Impact on tourism and recreation
 Solutions to Mitigate Economic Impacts

● Transition to renewable energy sources

● Implementing carbon pricing mechanisms
● Investing in climate-resilient infrastructure
● Promoting sustainable land use practices
 Global Efforts and Policies

● Paris Agreement and Nationally Determined

Contributions (NDCs)
● International Climate Funds (e.g., Green
Climate Fund)
● Regional and national climate action plans
● Corporate sustainability initiatives
 Progress and Challenges

● Advances in renewable energy technology

● Reductions in greenhouse gas emissions
● Challenges of implementation and political will
● Disparities in impacts and adaptation efforts
Has Enough Been Done?

Evaluation of current climate efforts

versus projected impacts reveals gaps in
action and policy, highlighting the need for
continuous research and adaptation.
Bridging these gaps is crucial for
addressing economic consequences
effectively and ensuring a resilient
response to climate change.
What has been done?

The major report, ‘Finance For Nature,’ reveals that $7 trillion flowed
to sectors harming nature in 2022, equivalent to 7% of global GDP.
Efforts to conserve natural sinks and finance climate-nature projects
have mobilized over $2.6 billion, with the private sector playing a
central role.

A number of countries also stepped forward with roughly $700

million to fill the fund. Though welcome, this is a drop in the ocean
compared to the $580 billion in climate-related damages vulnerable
countries may face by 2030.
What is happening in Uzbekistan?

High reliance on fossil fuels — primarily natural gas — makes Uzbekistan’s economy
energy intensive. Investments in modernization, improvements in energy efficiency and
the introduction of solar and wind power plants have reduced emissions. The energy
sector is responsible for slightly more than 80 per cent of the country’s emissions, but the
share and total contribution of energy emissions is declining. Agricultural emissions —
primarily from livestock and cotton production — account for 10 per cent of total
emissions. Emissions from waste management are the lowest, but they are growing the
fastest.
Bibliography

Michelle Kilfoyle. “Climate Change: What Are the Economic Impacts and Potential Solutions?”
Economics Observatory, 4 Nov. 2022,
https://www.economicsobservatory.com/climate-change-what-are-the-economic-impacts-and
-potential-solutions

Renée Cho. “How Climate Change Impacts the Economy.” State of the Planet, 20 June 2019,
https://news.climate.columbia.edu/2019/06/20/climate-change-economy-impacts/

David Waskow, Jamal Srouji, … Rhys Gerholdt “Unpacking COP28: Key Outcomes from the
Dubai Climate Talks, and What Comes Next” World Resources Institute, 17 Dec., 2023

https://www.wri.org/insights/cop28-outcomes-next-steps

2020, Regional Environmental Centre for Central Asia, “Climate change in Uzbekistan
Illustrated summary”, Zoï Environment Network

https://zoinet.org/wp-content/uploads/2018/01/UZB-climate-summary-en.pdf
Thank you!