Air pollution caused by burning fossil fuels costs $8 billion a day according to a Greenpeace report. This is about 3.3 per cent of a global gross domestic product (GDP) or $2.9 trillion per year.
The report released by Greenpeace Southeast Asia and the Center for Research on Energy and Clean Air said that China, India, and the US bear the highest economic cost of soaring pollution.
While China and the US bear $900 billion and $600 billion for air pollution annually, India spends $150 billion annually. The financial loss incurred by a country due to air pollution is a result of respiratory and non-communicable diseases.
Air pollution continues to harm billions of people each day, despite efforts by some countries, and companies to push for greater use of renewable energy, and cleaner fuels. Pollutants released by the burning of fossil fuels leads to 4.5 million premature deaths globally every year. Of these, the researchers found that 1.8 million premature deaths take place in India and China.
The air pollution increases health risks, including stroke, asthma, and lung cancer. Minwoo Son, the clean air campaigner at Greenpeace East Asia, said that the air pollution problem could be resolved by transitioning to renewable energy sources, phasing out diesel and petrol cars, and building public transport.
Earlier, Oxford Economics in a report had said that if global warming isn’t controlled, the Earth will warm up by 2 degree Celsius by 2050, cutting global GDP by 2.5 per cent to 7.5 per cent.
Among the most hazardous pollutants is PM 2.5, which leads to the death of 40,000 children before their fifth birthday, and 20 lakh preterm births annually. The pollutant penetrates deep into the lungs and enters the bloodstream, causing cardiovascular, respiratory problems.
PM 2.5 has been declared cancer-causing agent in 2013 by the World Health Organisation. Globally, lung cancer due to air pollution causes 29 per cent of all the deaths. Around 17 per cent of deaths are caused by an acute lower respiratory infection.
The cost also comprises of life lost through premature deaths. Deaths of children and young people bring a huge economic loss to a country through lost contributions to society, the report added.
Also Read: India Reported Most Number Of Pollution-Related Deaths In 2017: Report
