World Environment Day is an occasion to reflect on the growing threat posed by climate change. Recent weather extremes in Delhi — from 43°C heat to torrential rain and sharp temperature swings within days — underscore the growing unpredictability of our climate. The planet has already warmed by more than 1.1°C above pre-industrial levels, and its impacts are being felt across the world.

Climate-related disasters now inflict economic losses of roughly US$300-320 billion annually worldwide, significantly above long-term averages, with weather-related events accounting for more than 90 per cent of the damage. Key sectors like agriculture are coming under pressure from heat stress, droughts, floods, and shifting pest dynamics. Water scarcity already affects billions, while infrastructure designed for the 20th century is increasingly unfit for today’s realities.

These challenges are creating unprecedented demand for recalibrations of technologies, resilient infrastructure, climate-smart manufacturing, water-efficient systems and innovative business models. The climate crisis is becoming one of the most powerful drivers of economic transformation in modern history. The world is now entering what is being called the “adaptation economy”. Recent industry........

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