The Stream, November 2: Biggest Threat to India Economy is Climate Change, Government Official Says

The Global Rundown

Erratic monsoon patterns brought on by climate change are the biggest threat to India’s economy, a government finance minister said. South Africa declared disaster areas in two of its nine provinces due to drought, and California fined four water utilities for failing to meet state water conservation requirements. Insurance companies in Australia are not providing enough information about climate change risks, according to a new report. Demonstrators took to the streets in Morocco to protest high water and electricity prices. Floods and storms killed six people in Texas.

“The number one risk we face is global climate change because we are still very dependent on the monsoon. The age-old patterns are changing, which is affecting our farming and creating a lot of agricultural distress.” –Jayant Sinha, India’s junior finance minister, on threats to the country’s economy. Below-average monsoon rainfall this year took a toll on India’s corn, rice, and sugar crops. (Bloomberg)

By The Numbers

6 people Number who died during storms that brought floods and tornadoes to Texas over the weekend. Houston was particularly hard-hit by floods, recording almost a foot of rain. Reuters

2 provinces Number, out of nine in South Africa, that have been declared disaster areas due to “worsening” drought conditions. Bloomberg

$61,000 Fine to be paid by each of four water utilities in California that failed to meet state-mandated water conservation requirements. Patch

Science, Studies, And Reports

Insurance companies in Australia are not telling businesses enough about climate change risks, according to a report by the World Wide Fund for Nature. As a result, the businesses could be vulnerable to unexpected cost increases as the risk of floods, storms, and fires increases. Guardian

On The Radar

High prices for water and electricity are prompting thousands of Moroccans to take part in protests. In Tangier, these services are provided by the utility company Amendis, which some protesters said should be replaced by a public utility. Reuters

Codi Kozacek

A news correspondent for Circle of Blue based out of Hawaii. She writes The Stream, Circle of Blue’s daily digest of international water news trends. Her interests include food security, ecology and the Great Lakes.
Contact Codi Kozacek