Climate change is the ultimate risk multiplier – Prof. Munasinghe
By Rishar Saleem- August 23, 2014
Ceylon Finance Today: "Sustainomics, seeks to make development more sustainable. It helps to practically address two major global challenges — sustainable development and climate change. Development problems like poverty are already formidable. Climate change is the ultimate risk multiplier, worsening the other crises. Its worst impacts fall on the poor who are least responsible for the problem," these were the opening remarks made by Professor Mohan Munasinghe presenting his keynote address at a seminar organized by the University of Sri Jayewardenepura (USJ) recently.
Professor Mohan Munasinghe said this delivering his keynote address titled 'Sustainable economics: A trans-disciplinary framework providing integrated solutions for global problems', at the international conference on Multidisciplinary approaches harnessing knowledge and harmonizing diversities, organized by the Faculty of graduate studies of the USJ.
Stressing further he said, "The world currently faces multiple economic, social, and environmental threats. The economic collapse is the most urgent. The social crisis arises from global poverty, and inequity and inappropriate governance. Finally, mankind has caused severe environmental damage, including climate change. Present trends could destabilize global society. The way forward requires better use of economic stimulus packages to support green investments, social safety nets, and better price policies". Elaborating further he said, "A long-term vision goes beyond our current focus on surface level indicators. Instead, deeper issues need to be addressed systematically focusing on both the immediate drivers and underlying pressures. The most effective approach is to integrate climate change policies into national sustainable development strategy, using the sustainomics framework". Explaining further Prof. Munasinghe said, "First, is the practical, step-by step approach of "making development more sustainable" (MDMS). Second, we need a balanced and integrated analysis from three main perspectives: social, economic and environmental. Third, the analysis must transcend conventional boundaries imposed by discipline, space, time, stakeholder's viewpoints, and operationality. "Finally, sustainomics provides many practical tools," he said.
Speaking on the risks involved and their mitigation he noted further, "This approach is applied globally to reconcile climate change risk management and development aspirations. Some practical national level applications are also described involving integration of adaptation and mitigation polices into sustainable development strategy. Specific cases include macroeconomic agriculture and water, and renewable energy projects. Although the issues are complex and serious, both climate change and sustainable development problems could be solved together, provided we begin immediately".
The conference was chaired by senior professor Dean Faculty of Graduate studies USJ, Swarna Piyasiri, while the chief guest was University Grants Commission Chairperson Professor Kshanika Hirimburegama. Vice Chancellor of USJ Dr. N.L.A. Karunaratna also participated at the inauguration of the seminar.
By Rishar Saleem- August 23, 2014Ceylon Finance Today: "Sustainomics, seeks to make development more sustainable. It helps to practically address two major global challenges — sustainable development and climate change. Development problems like poverty are already formidable. Climate change is the ultimate risk multiplier, worsening the other crises. Its worst impacts fall on the poor who are least responsible for the problem," these were the opening remarks made by Professor Mohan Munasinghe presenting his keynote address at a seminar organized by the University of Sri Jayewardenepura (USJ) recently.
Professor Mohan Munasinghe said this delivering his keynote address titled 'Sustainable economics: A trans-disciplinary framework providing integrated solutions for global problems', at the international conference on Multidisciplinary approaches harnessing knowledge and harmonizing diversities, organized by the Faculty of graduate studies of the USJ.
Stressing further he said, "The world currently faces multiple economic, social, and environmental threats. The economic collapse is the most urgent. The social crisis arises from global poverty, and inequity and inappropriate governance. Finally, mankind has caused severe environmental damage, including climate change. Present trends could destabilize global society. The way forward requires better use of economic stimulus packages to support green investments, social safety nets, and better price policies". Elaborating further he said, "A long-term vision goes beyond our current focus on surface level indicators. Instead, deeper issues need to be addressed systematically focusing on both the immediate drivers and underlying pressures. The most effective approach is to integrate climate change policies into national sustainable development strategy, using the sustainomics framework". Explaining further Prof. Munasinghe said, "First, is the practical, step-by step approach of "making development more sustainable" (MDMS). Second, we need a balanced and integrated analysis from three main perspectives: social, economic and environmental. Third, the analysis must transcend conventional boundaries imposed by discipline, space, time, stakeholder's viewpoints, and operationality. "Finally, sustainomics provides many practical tools," he said.
Speaking on the risks involved and their mitigation he noted further, "This approach is applied globally to reconcile climate change risk management and development aspirations. Some practical national level applications are also described involving integration of adaptation and mitigation polices into sustainable development strategy. Specific cases include macroeconomic agriculture and water, and renewable energy projects. Although the issues are complex and serious, both climate change and sustainable development problems could be solved together, provided we begin immediately".
The conference was chaired by senior professor Dean Faculty of Graduate studies USJ, Swarna Piyasiri, while the chief guest was University Grants Commission Chairperson Professor Kshanika Hirimburegama. Vice Chancellor of USJ Dr. N.L.A. Karunaratna also participated at the inauguration of the seminar.
