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ISSN: 2157-7617
Journal of Earth Science & Climatic Change
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Earth Science and Climate Change in Concern of Socio-Economics

Komal Choudhary1 and Mukesh Singh Boori1,2*
1Palacky University Olomouc, Listopadu, Olomouc, Czech Republic
2Geographical Institute, Ruhr University Bochum, Germany
Corresponding Author : Mukesh Singh Boori
Palacky University Olomouc, listopadu, Olomouc, Czech Republic
Tel: 420585631111
E-mail: [email protected]
Received November 03, 2014; Accepted November 03, 2014; Published November 10, 2014
Citation: Choudhary K, Boori MS (2014) Earth Science and Climate Change in Concern of Socio-Economics. J Earth Sci Clim Change 5: 236. doi: 10.4172/2157-7617.1000236
Copyright: © 2014 Choudhary K, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

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OMICs group publications on earth science and climate change presents the decision maker with a set of formidable complications: large uncertainties, the potential for irreversible damages or costs, a very long planning horizon, long time lags between emissions and effects, a global scope, wide regional variation and multiple greenhouse gases of concern. OMICs group journals publications mention that atmosphere is an international public good, in that all countries benefit from each country's reduction in greenhouse emissions; greenhouse gases are an international externality, in that emissions by one country affect all other countries to some extent.
OMICs group journals publications show that a decision process for earth science and climate change should be sequential. It should also be able to respond to new information with midcourse corrections and to include insurance arrangements, hedging strategies and the option value of alternative courses of action. The challenge today is to identify short-term strategies in the face of long-term uncertainty [1,2]. The question is not what the best course is over the next 100 years, but rather what is the best course for the next few years, knowing that a prudent hedging strategy will allow time to learn and change courses.
OMICs group journals policy measures to reduce risks to future generations include (1) immediate reductions in emissions; (2) research and development related to new supply and conservation technologies; (3) continued research on how much change is likely and what its effects will be and (4) investments to assist in adaptation if significant global warming occurs. A well-chosen portfolio of policies will yield greater benefits for a given cost than any one option undertaken by it. Striking the appropriate balance requires taking into account costs, benefits and risks [3-5].
Few OMICs group journals related to earth science and climate change describe that in an interrelated global economic system, an attempt in reduce greenhouse gas emissions in one region or one sector of the economy may be offset by increases in other regions or sectors. This may occur through the loss of comparative nil vantage in the carbon-intensive sectors of the regions that limit emissions, through the relocation of industries, or through changes in world energy prices and the resulting shill in consumption [6-8]. Any control strategy must account for these global effects. For the purposes of analysis it is useful to separate efficiency from equity. The Framework Convention on Climate Change (FCCC) requires all parties to formulate and implement programmes to mitigate climate change and facilitate adaptation to climate change on the basis of their common but differentiated responsibilities, and taking into account their specific national and regional development priorities, objectives and circumstances [9,10]. Developing countries are more likely to be adversely affected economically than the developed countries; moreover, developing countries often lack the financial and technical resources to respond to these changes.
OMICs group journals focus on efficiency and emission reductions, where their cost is lowest, irrespective of who hears the financial responsibility. Efficiency calls for removing energy subsidies, reforming and clarifying property rights that affect energy use and carbon storage, and reducing non greenhouse externalities that have the side benefit of reducing greenhouse emissions. Efficiency may also be promoted and greenhouse emissions reduced, by better information dissemination and by addressing capital market imperfections that inhibit the adoption of energy-efficient technology. Dynamic analysis indicates large potential gains from flexibility in the timing of greenhouse reductions to allow for the economical turnover of capital stock and to allow time for the development of low-cost substitutes. Policies that promote efficiency by requiring nations to face the full costs of their actions will also address equity concerns. International mechanisms, such as joint implementation, coordinated economic instruments, carbon taxes and tradable permits, if appropriately implemented, would promote efficiency [11,12].
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