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Economics
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Introduction
It may sound irrational to many unless proved factually that climate change has done more benefit to
humanity than harm in the recent century and this would likely continue for the next century. The
controversial statement above is not a blind shot in the air but is backed by the strong scientific
evidence. In continuation with the general trends of media and stereotypes, climatic changes are
perceived as bringing catastrophe to the humanity in disguise but if we see it from a different
dimension, we may come across certain benefits which are adding value to the life mechanisms on the
earth. Touting the benefits of climatic changes though is accompanied by strong condemnations as
these benefits are subject to class difference and different segments of the economy. There are
multiple effects of climatic changes in the domains of humanitarian, ecology and finances and as whole
the impact has been proved as a positive impact and this positivity will continue for next five decades.
Science has calculated that global warming up to 2.2 degrees Celsius will fall in the beneficial category
and has estimated around 0.8 degree Celsius global warming has taken place in last 150 years. (Metzge,
2017). It has been estimated that such rise in temperature may not reach till the end of the century.
Scientist are stick to their old assumptions and yearly analysis of the weather estimates and forecasting
is merely done on the basis of past experiences. While the whole world is adversely being affected by
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the rise in the temperatures Philips has used the model ‘business as usual path’ using the medians, it has
been estimated that Canadians will see around 51 days a year above 30 degree by 2050 and 77 days by
2050 so there is a positive change for the Canadians. (Mortillaro, 2018). In the coming decade, Canada is
expected to increase above the negative temperature, therefore, 4 degree by 2050 and 1 degree by
2100. Though rise in temperature comes price which may get paid off in economic terms but as whole a
change would streamline the economy of the Canada on so many levels. Prof. Tol has reviewed many
papers from the past and has compared them with the recent statistics and concludes that climate
changes has raised the welfare of the planet and mankind. (Canada).
He has collated the studies with a different perspective and there is a strong endorsement of
benefits of climate change on the basis on figures. One must scrutinize the temperature models in
relation with the economic model to find the benefits and connection between them. Prof toll has
estimated around an increase of 1.4 percent in the economic value and this is expected to rise up to 1.5
percent by 2025. The main benefits of the Climate changes increase, low energy costs, better
agricultural yields, fewer droughts, fewer winter deaths and richer biodiversity. It is indeed a known fact
that winter deaths are more likely to happen than the summer deaths. This fact is not just limited to the
citizens of Canada, therefore, Ontario but also very common in Greece. Extreme cold winters may
results in heart failures which is a lethal apprehension as compare to the residents dying of heat waves.
(Mortillaro, 2018). Due to this fact, mortality rate in Canada is almost 18% in every winter. Affording the
provision of central heating is a luxury only available to elite classes, whereas, the lower class or the
slums of the country suffer in the extreme weather conditions. Therefore, if not many but climate
changes carry acute benefits for the people living in poverty. Figure for the deaths is around 29000
individuals every year. (Mortillaro, 2018). In comparison, number of deaths occurred in Canada due to
heat wave were 2000 in Britain and 15000 in France which is approximately half times the death
Prof Tol has also estimated that in few years from now, due to climate changes, cost of cooling would
exceed the cost of heating. Excess winter hit poor harder than the richer because they cannot afford the
central heating system but it has been forecasted in the next five decade, poor may not be able of afford
the cooling system as well because of the loopholes in the economy which keeps the poor as poor and
rich as rich for extensive periods. (Jeff Rubin: Climate Change Will Bring Benefits to Canada’s Economy,
2017). So far, global warming has cut down the heating bills of many houses rather than raising the
Greatest benefits not just comes from the climate changes but also the emission of carbon dioxide.
Many consider it as a pollution in the air but for plants it is a raw material for making carbohydrates and
proteins. (Metzge, 2017). Carbon dioxide is in a very little amount of 0.04 percent in the air and it
becomes harder for the plants to suck it out of the air in the colder days. On sunny days, plant is
expected to suck almost half of the oxygen from the air. It has been estimated that there has been an
increase of 0.01 percent from 0.03 to 0.04 in past decade because of global warming. (Metzge, 2017).
Cost of artificially providing the carbon dioxide to the plants will be eventually be reduced and plants
will directly consume carbon dioxide from the air and will be able to grow. This will open door for a
startling greenery in the country. It has been found by Dr. Ranja Myneni that in last three decades
almost 31% of the area has become greener and only three percent has lost its greenery. This has led to
overall 14% increase in the productivity of the ecosystems of all the vegetation types. The credits for this
positive change goes the increase in the amount of carbon dioxide in the air. (Canada).
In ecological terms, global warming not only lead to the more greenery and growth in the plantation
but also develops a mechanism which leads to more rainfall in the country which is needed for its
agriculture growth. More rainfall also means, more plants will be grown and more food with be there for
the herbivores and fertile crops can be grown which will boost the agriculture sector of the country. This
is not just limited to this but will also contributed to increase in employment and productivity which will
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ultimately enhance the economy of the country. Some may argue that what about the hazards of the
climate changes and latest IPCC reports of the country are complete confident about it that no
significant trends have been observed in the global tropical cyclone frequency. (Jeff Rubin: Climate
Change Will Bring Benefits to Canada’s Economy, 2017). Small scale hails and thunderstorms have been
observed which have intensity in terms of damage than the temperature falling below zero and causing
breathing problems for the living beings. Indur Goklany has found that there has been a decrease in the
death rates of about 98 percentage since 1920 which were happening because of the droughts, floods
and storms. It is not because the weather has become less dangerous but rather people have become
Climate changes will also be accompanied by the decrease in the diseases associated with the
extreme winters as pneumonia and respiratory complications. It is a matter of debate as well that
though the humans have built wind turbines and grown bio fuels but this hasn’t reduced the emission of
carbon dioxides but has fight the climatic changes. These innovations have rather led to fuel poverty in
the countries and have led to less competitiveness in the Canadian industries, has caused inflation and
destruction of the forestry. Climatic Change policies are also adversely affecting the civilization as whole
as around 200,000 people are dying every year but almost five percent of the world’s grain crop is
turned into fuel instead of food which is resulting in malnutrition and subsequent deaths. In the
contemporary era, 65 people die every day on average just because they cannot afford heating in their
homes. According to Karin vander Wiel, climate on average will lose four days of mild weather per year
by 2035 and this seems to be a positive change for the people living in extreme weather conditions as
An assessment on behalf of the federal government of Canada estimated the benefits which will be
brought to their agriculture systems. More useful and profitable crops will be grown in the country.
Livestock production will also be benefitted in the form of lower feed requirement. Soil quality will also
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improve eventually because of the rainfall. According the predictions of UCLA, geographer Laurence C.
Smith climate change could turn Canada into a global superpower by 2050. (Jeff Rubin: Climate Change
Will Bring Benefits to Canada’s Economy, 2017). Melting of the arctic region has rather given a way to
extract the large quantities of natural gas beneath the areas of North Pole which is another benefit of
the climatic changes. In 2015, Canada was ranked as the third worst environmental protectionist
according to the Center for Global Development. Though, world see climatic Changes as an end the their
sustainability but for Canada, the perks of having milder days will be enjoyed in the coming decades and
where the world is losing in terms of natural resources, Canada is expected to enjoy the new exploration
of natural resources so this country would be benefitting from the Climatic Change in relative terms.
Climatic changes have also affected the two gender in our society on different scales. These are
unlikely to be gender neutral. There are dissimilar impacts of climatic changes on the two gender and on
average, men are more to be suffering from it than women. (Canada). Climatic changes may result in
more working days in the near future in Canadian offices which were usually off and also universities
which are off for greater number of days. Costs to combat the extreme weather conditions will also be
reduced gradually. Melting of the glaciers in the North Pole will increase the water availability to the
crops which will boost the agriculture of the country. According to Ontario Environment Plan
greenhouse gases emission dropped by 22% since 2005 while rest of the Canada saw an increase in
emission by 3%. Data from Ontario Ministry of Environment and Climate Change projects and average
annual temperature increase of 3.6 degrees. There will be an observed change in the precipitation
patterns as warmer weathers will lead to more localized rainfalls. On Contrary to the benefits, there is
an expected rise in the prices of food items as well. A report from McKinsey and Company predicts by
2050, there will be more electricity generation of around 33% which is currently at 6% only.
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In conclusion, where the world see climate change as an end for the living beings, Canada has just
started to catch up with the economic and social norms, rest of the world is practicing from a long time.
When one sector of the country is benefitted, a chain is followed and rest of the sectors gets the benefit
as well. Political stability, economic growth and globalization as a result of trading will also break
themselves into this line of benefits of the climate change. Extremity of any weather conditions limits
the country from so many economic activities which can actually add value to its GDP; therefore, a
gradual shift towards to milder temperatures will open door to so many opportunities which can
improve the conditions of the country as whole. A proper breakthrough of climate change if properly
assessed by conducting profound researches and comparing the dilemmas with the experience of other
countries, Canada can formulate more efficient strategies to make a good use of this climate change and
References
Colledge, M. (2018, October 11). COMMENTARY: Climate change is a Canadian dilemma that must be
addressed.
Jeff Rubin: Climate Change Will Bring Benefits to Canada’s Economy. (2017, Februrary).
Metzge, P. (2017, November 14). What climate change has in store for Ontario.
Mortillaro, N. (2018, October 27). Here's what climate change could look like in Canada.