Experts discuss sustainable development, economic change
LUCKNOW, Feb. 16 -- The two-day Indian Council of Social Science Research (ICSSR) sponsored national seminar on sustainable development goals and economic development in India: Achievements and future challenges concluded at Lucknow University on Sunday.
The seminar, organised by the LU's department of applied economics, faculty of commerce, brought together renowned academics, policy experts, researchers, and scholars from across the country to discuss pressing issues related to sustainable development and economic transformation in India.
Over 300 people participated in the seminar. On the opening day, chief guest Pankaj Kumar, regional director, RBI, Lucknow, described climate change as a systemic financial risk. He explained that climate change is a current economic reality, not a distant threat.
He identified two key climate-related financial risks: physical risk - losses due to extreme weather events; and transition risk - risks from transitioning to a low-carbon economy (e.g., stranded assets).
He highlighted how the RBI is integrating climate risk into the financial stability framework through stress testing, improved disclosures, and capacity building.
Prof AP Singh, vice chancellor, Dr Ram Manohar Lohiya National Law University, Lucknow, focused on the institutional and legal dimensions of sustainable development.
He cited Articles 46 and 47 of the Indian Constitution, which deal with child nutrition, maternity and public health.
On the second day of the seminar, chief guest Prof J.V. Vaishampayan, former VC of Bundelkhand University, Jhansi, said the concept of eco-friendly development began with the publication of the book 'The Coal Question 1865', which emphasised that growth is not unlimited. Resource misuse will lead to over-consumption, limiting growth.
He said behavioural changes will help promote environmentally sound consumption and reduce natural resource use....
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