Cost of dealing with climate change: 2% of GDP of INDIA

16 Sep 2007, 0213 hrs IST,Nitin Sethi,TNN NEW DELHI: The development projects India is undertaking to reduce impacts of climate change is already cutting into its GDP. In 2006-07, India used 2.17% of its GDP on projects that will help communities adapt to climate change and reduce their vulnerability to climate change. This was disclosed on Thursday by Jayant M Mau-skar, joint secretary in the environment ministry, at a conference on climate change organised at the Vatavaran Film Festival here. Mauskar said, "In 2000-01, India was spending 0.63% of its GDP on climate change adaptation and mitigation which has now risen to 2.17%. So we can say that Nicholas Stern's argument (that climate change action does not hurt economy much) is perhaps not true." Stern, in his report on climate change for the UK, he ............................................................... full article at: http://timesofindia.indiatimes.com/India/Cost_of_dealing_with_climate_change_2_of_GDP_/articleshow/2373069.cms