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The Hindu
The Hindu
Comment
Amar Patnaik, Rajesh Kasturirangan

Keeping tabs on carbon with an accounting system

The climate ‘polycrisis’ — a term made popular by Adam Tooze — refers to the interconnected and compounding crises related to climate change that are affecting the planet not just in a few sectors but across several sectors and domains. It encompasses the physical impacts of climate change (rising temperatures, sea-level rise, and extreme weather events) and the social, economic, and political challenges that arise from these impacts. In India, one can see the interconnections between seemingly different sectors such as energy, infrastructure, health, migration and food production that are being impacted by climate change.

Recognising the complexity and interconnectedness of the climate polycrisis, it is crucial in developing a holistic approach that takes into account the diverse perspectives and priorities of different stakeholders, while ensuring resilience, equity, and justice. While it seems easier to pursue our response to climate change in a sectoral fashion, the very nature of a polycrisis means that tweaking one corner of the climate challenge leads to unexpected consequences elsewhere.

Instead, we need a deep transformation — one that lays the foundation of a new economy that is sensitive to the planet. Just as digital infrastructure enables new startups and public services, we need to imagine ‘carbon infrastructure’ that creates opportunities for a flourishing future carbon regime that takes the flows of carbon into account in the formulation of policy at every level: household, panchayat, district, State and country.

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