Speaking at a interaction today, Mr. Ranjit Barthakur, Chairman FICCI NE Advisory Council and Founder Balipara Foundation said “More than half the global economy depends heavily to moderately on nature. In India this figure is 70%. With a burgeoning climate and biodiversity crisis the economy is exposed to increasing ecological risks.”
In 2020, India spent $141 billion or INR 10lakh crores in mitigating climate-linked flood damage. This figure is expected to rise: the sixth IPCC report predicts a future of flooding with increasing intensity for the South Asian region, made worse by the loss of natural shock absorbers like dense forests and mangroves, he said.
India’s Eastern Himalayas, spread across the North East states, are already facing a 1.3 degree temperature rise, warming faster than the rest of the country, and is set to face increasing floods coupled with growing dry spells as the monsoon grows shorter, more intense and overall rainfall declines. For a primarily agricultural region, every single 0.1 degree counts.
Mr. Barthakur said “While The Glasgow Climate Pact at COP26 fell short of the lofty ambitions of decarbonization and emissions reduction needed to keep temperatures below 1.5 degrees Celsius,the good news is that the Pact includes a provision to push countries to set more ambitious goals every year. Most importantly, it puts forests and indigenous communities right at the heart of the climate fight, recognizing their power to protect our planet.”
The Pledge on Forests and Land Use explicitly recognized the role of indigenous communities in managing forests and calls for support for smallholders, Indigenous Peoples, and local communities, who depend on forests for their livelihoods and have a key role in their stewardship.
Speaking about initiatives being taken in the northeast, Mr. Barthakur said, “this year, building on its extensive experience in
As global businesses recognize the need to eliminate deforestation and negative impact on forests, Indian businesses too are taking proactive steps towards achieving a more sustainable planet. With the North Eastexpanding its economic footprint, it is becoming increasingly important to encouragej responsible business practices. FICCI is committed to work towards adoption of sustainable practices by Indian Industry, Said Mr. Barthakur.
