Neelkanth Mishra discusses the intersection of climate change and economics, emphasizing that while climate change is accelerating, India must not compromise its growth objectives. He highlights the need for energy efficiency, urban resilience, and proactive adaptation, noting that India is ahead of its 2030 climate commitments and should focus on innovation rather than guilt-driven slowdown.
Summarized by Podsumo
India's per capita energy demand is far below China's, but if it rises to similar levels, the world would need another Earth; thus, energy efficiency and innovation are critical.
Climate change impacts productivity directly: a 1°C temperature rise can reduce cognitive performance by 1%, and heat stress can cut daily working hours by 20-30%.
India is one of the only large countries ahead of its 2030 climate commitments, and there is no reason to compromise growth—but energy efficiency must improve dramatically.
Urban infrastructure in India is not even weather-resilient, let alone climate-resilient; better planning and empowered city governments are needed.
The upcoming El Niño could disrupt global food systems and energy prices, but India's economy is in strong shape with 7.5-8% real growth momentum expected.
"If India's per capita energy demand goes anywhere close to where China is today, then we'll need another Earth."
"There is no reason for us to slow down the growth objectives... there is no sense of guilt that we should have anywhere for growth."
"Japan generates $4 of output for every dollar of energy we generate. So why can't we get as efficient as they are?"