How does deforestation impact biodiversity and what are the broader environmental consequences?
Statement 1 is accurate: Carbon markets, once considered ineffective, have finally emerged as one of the most prominent mechanisms in the battle against climate change. By the end of 2021, over 21% of global emissions were subject to some form of carbon pricing, an increase from 15% in 2020. More anRead more
Statement 1 is accurate: Carbon markets, once considered ineffective, have finally emerged as one of the most prominent mechanisms in the battle against climate change. By the end of 2021, over 21% of global emissions were subject to some form of carbon pricing, an increase from 15% in 2020. More and more businesses are required to compensate regulators for the privilege of emitting a ton of carbon dioxide. Investor interest is also rising, as trading volumes in these markets surged by 164% last year, reaching €760 billion ($897 billion).
Statement 2 is also accurate. Carbon markets play a crucial role in mobilizing financial resources and minimizing costs, thereby providing countries and corporations the flexibility to transition to low-carbon economies. It is projected that carbon credit trading could lower the expense of fulfilling Nationally Determined Contributions (NDCs) by over 50%—potentially saving as much as $250 billion by 2030. In the long run, however, carbon markets may become obsolete as countries achieve net-zero emissions, reducing the necessity for emission trading.
Therefore, the correct answer is Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I.
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Deforestation significantly impacts biodiversity by destroying habitats that are critical for various species. When forests are cleared, many plants, animals, insects, and microorganisms lose their homes, leading to a decline in species richness. This loss of biodiversity disrupts ecosystems and weaRead more
Deforestation significantly impacts biodiversity by destroying habitats that are critical for various species. When forests are cleared, many plants, animals, insects, and microorganisms lose their homes, leading to a decline in species richness. This loss of biodiversity disrupts ecosystems and weakens their resilience, making them more vulnerable to disturbances like climate change, diseases, and natural disasters. Deforestation also contributes to soil erosion, reduces the land’s ability to store carbon, and increases greenhouse gas emissions, exacerbating global warming. The broader environmental consequences include altered rainfall patterns, decreased soil fertility, and a loss of ecosystem services like water filtration and air purification, which are vital for human survival.
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