This modern era is not only known for for its high-tech innovations but is also infamous for the byproduct it has generated in the form of thick blanket of smog, poisonous air to breathe, uneven monsoon, deep water crisis and accumulated plastic & electronic wastes. The rapid industrialization of 20th century had led to an average annual growth rate of 3% in world GDP which has been achieved at the cost of massive exploitation of natural resources on the global level. The increased pace of urbanization further resulted in conversion of green forest into the desert. The natural calamities that the world is facing today is not natural but the consequence of our past destructive development process.
According to a pan India survey commissioned by the Mahindra group this year, it was revealed that four out of five Indians were aware of the impact of their actions on nature and climate change. But such awareness was not seen in their actual behavior. Moreover, in this time of crisis it is worthless to expect any quick action from government when it is already engaged in solving CAA-NRC issue and in preparation of coming state elections which seems to be their priority as of now. As the result of such ignorance from humans and government, the nature has decided to take its own stand, the first reaction shown by nature is change in its citizenship law, or we can say nature has also brought CAA. Previously the law granted citizenship to humans on the condition that they had to inherit the better planet to the next generation but the new law is actually snatching citizenship right from those who are destructing the blue planet and making it unfit for living of even the present generation and the impact of this law is drastic. About 9 millions premature deaths occurred in 2015, that is, 16% of deaths in the world occurred due to pollution, out of this about 2.5 million death took place in India. According to a report of the Lancet Medical Journal, the financial losses from pollution related death, sickness is costing some $5.9 trillion annually i.e., about 6.2% of the world economy.
According to a study of World Health Organization and Institute for Health Metrics and evaluation at the University of Washington, the worst affected countries from pollution are in Asia and Africa, with India topping the list. This fact reveals the urgency for proper action for combating pollution in India and the change can come only when the business houses play a major role for this. The UN Assembly in September 2015 has also emphasized on the public- private partnership for achieving sustainable development goals.
The pollution level in India is dangerous. Water bodies are highly contaminated, soil health is worsened and the air quality has become poisonous. Eleven out of twelve highly polluted cities of the world are in India, even the air quality index of national capital is hazardous, that is, above 400 AQI. At least 140 million people in India are breathing air that is ten times or more worse than WHO safe limit and almost 75% of deaths in India are caused due to air pollution. The patients of lungs cancer, heart stroke are increasing day by day. Most hazardous pollution for nature is from plastic. The amount of plastic waste generated in our country in a year is equivalent to the weight of 30 Titanic ships, which is about 10% of total waste generated by India. Not only this, plastic also acts as a magnet for other pollutants like dioxins, metals & pesticides which may cause health hazards like cancer, endocrine problems etc. Pollution is not only an environmental problem but also a major economic issue as it contributes in poverty, mismanagement of natural resources, malnutrition, affects the agriculture sector and leads to climate change. There is an economic loss of about $38 billion annually in India because of air pollution, according to IFPRI report.
But this economic loss can be turned into economic gains if the corporate houses come forward and join hands with government in the war against pollution. The private companies can innovate new methods and technologies for controlling air pollution and fund the new start-ups like Device Earth and Vayu Natural and can turn these into profitable avenues. The government has intended to ban single use plastic bags but a major share of urban wastes come from plastic wrappers on which government has maintained silence but the private companies can do a lot for this: they may install vending machines or snacks ATM in which fresh snacks is delivered in tissue papers or they may develop new eco-friendly wrappers. Industrialists can set up new jute or cotton bag industries. The public or private holdings engaged in infrastructure development and construction work should adopt the Green Muffler Scheme beside the roads and highways as it will absorb pollution and also act as a decorative medium. This can also be used by private companies in the surrounding of their offices, buildings. Private bankers could encourage the green banking program where banks grant credit for eco-friendly investment avenues. Government should invest funds in development of public parks. Government should go for smart village model first instead of Smart Cities as this concept will not only check pollution but will also provide employment in rural sectors, improve their skills, leads to better health and education, brings new technology to the remote regions , reduce dependency on agriculture, regional inequalities and poverty. Government has allocated Rs.100 crore per city per year for five years 2015- 20 and a total of Rs.48,000 crore, but still hardly any subsequent change can be observed . Thus in such a situation, focus on smart village model proves to be a better option as it will not only balance the urban – rural development ratio but also bring overall development. The smart village model which is an integration of modern technology and traditional Indian culture will prove to be an exemplary move for the world in achieving sustained growth if implemented properly.
Business houses will prove to be a better player in environmental safety as it is their social obligation to protect nature and it may also improve their profitability position by attracting potential customers who are health conscious and environmentally concerned. They will most probably prefer the new technology which is advanced, indigenously developed, healthy and eco-friendly, which in turn will result into higher sales and revenues. This will also help to get an all over market reach which was previously limited to the urban market only. Taking this step by the corporate houses will also ensure good reputation in market which may help them in generating good revenue and providing it with good survival terms and better growth and expansion avenues. The prosperous business in country leads to high demand, high consumption which in turn results in increased investment, reduced poverty and unemployment and brings overall prosperity in economy and all this is evident from US economy where US has gained over $30 from every dollar spent on controlling air pollution since 1970s, according to EPA research report . If environmental problems are efficiently and effectively tackled, it leads to reduction in government health expenditure which can be further used in other developmental schemes.
It is not exaggerative to say that Earth is “endangered” and there is an urgent need for remedial actions from corporate houses, industrialists and from the people as whole because if they don’t take any step for environmental conservation they cannot sustain in market. It’s a health emergency for our planet and our economy. So, either we have to revive our ecology and economy or the whole world will be ruined making the prediction of the Hollywood movie ‘Spaceballs’ a truth.
(Writer is a student of FoC, BHU and Member of Finance and Economics Think Council)