Green Jobs

With climate change already being accepted by the global community as “a hard reality of the present times” and with projections pointing towards an increase in the frequency and intensity of extreme weather events, the concomitant outcome is the possible loss of jobs and productivity. This is exactly why climate change and global warming have found prominence in the latest Economic Survey, an annual document presented by the government ahead of the Union Budget to review the state of the economy. The Economic Survey, quoting an International Labour Organization (ILO) report, has stated that while heat is an occupational safety and health hazard, there is a likelihood of a global temperature rise of 1.5°C by the end of the 21st century, which in turn might cause a loss of 3.8 percent of total working hours worldwide due to high temperatures. This will be equivalent to 136 million full-time jobs and economic losses to the tune of $2,400 billion. The Economic Survey has also noted with concern the ILO report’s observation that India is one of the most vulnerable countries to productivity losses, given its high share of agricultural and construction employment and location within the tropical latitude. The positive side of the story, however, is the efforts to mitigate the impact of the impact of climate change in India by adopting green technologies and transitioning to greener energy alternatives. This trend is leading to businesses witnessing a strong job-creation effect driven by investments that facilitate the green transition of businesses and the application of ESG (environmental, social, and governance) standards. Pointing out a positive picture, the Economic Survey has pointed out that India’s green transition is more likely to significantly impact job opportunities in the renewable energy sector. It has also pointed out that by 2030, clean energy initiatives can potentially create about 3.4 million short-term and long-term jobs by installing 238 GW of solar and 101 GW of new wind capacity to achieve the 500 GW non-fossil electricity generation capacity. These jobs represent those created in the wind and on-grid solar energy sectors. About one million people can be employed to take up these green jobs.