Research suggests global cost of air pollution by fossil fuels is 3.3% of world's economy

According to a report from the Centre for Research on Energy and Clean Air (CERA) and Greenpeace Southeast Asia, the global cost of air pollution caused by fossil fuels is $8 billion a day or roughly 3.3 per cent of the entire world's economic output. The reports suggest that China, the United States and India bear the highest costs from fossil fuel air pollution worldwide as an estimated $900 billion, $600 billion and $150 billion respectively is spent every year. 

Air pollution also continues to harm billions of people as the new figures suggest that approximately 4.2 million deaths each year are linked to ground-level air pollution, mostly from heart disease, stroke, lung cancer and acute respiratory infections in children. Furthermore, the particles are thrown off by fossil fuel usage reportedly also account for 4.5 million premature deaths each year across the globe which includes 1.8 million in China and a million in India. The researchers had estimated the global cost for 2018 was $2.9 trillion. 

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Minwoo Son, the clean air campaigner at Greenpeace East Asia reportedly said that air pollution from fossil fuels is a threat to health and economies as it takes millions of lives and costs trillions of dollars. He further also added that it could be solved by transitioning to renewable energy sources, phasing out diesel and petrol cars and building public transport. The reports also noted that each year the global economy takes a $350 billion hits from nitrogen dioxide and further $380 billion hits from ozone. 

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Cancer-causing agent

According to the reports, globally, air pollution also accounts for 29 per cent of all death and disease from lung cancer, 17 per cent from an acute lower respiratory infection, and a quarter from stroke and heart disease. The most costly pollutant is also believed to be microscopic fine particulate matter (PM 2.5) as it accounts for more than two trillion dollars per years in damages, measured in health impacts, missed workdays and years lost to premature death. The World Health Organisation has reportedly also classified it as a cancer-causing agent. 

Furthermore, air pollution is also considered as a focal point of social discontent in some parts of the world and led some experts to also speculate that it could drive a more rapid drawdown of fossil fuel use. The researchers further noted that among countries taking the biggest economic hit each year are China with $900 billion, the United States with $610 billion, Germany with $140 billion, Japan with $130 billion, Russia with $69 billion and Britain with $66 billion. 

(With agency inputs)

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