Research arguementive essay Example | Topics and Well Written Essays - 1500 words - 1

Exploration arguementive - Essay Example There are a few reasons why liquor ought to be illegalized: the quantity of liquor related passings every year, the antagonistic wellbeing impacts that liquor has on a person’s body, character, cognizance, general prosperity and the enthusiastic pressure that liquor clients and their families experience. On the off chance that making liquor unlawful were to be understood, our general public would significantly profit by it and become a superior spot to live in. Liquor has some constructive outcomes on an individual when taken with some restraint, which is around one beverage in a solitary day. A portion of these impacts incorporate diminishing the odds of creating coronary illness, diabetes, strokes and elevated cholesterol level. The constructive outcomes are useful to a person’s wellbeing and energize solid living. They may, in this way, persuade individuals that liquor is useful for the general public yet the probability of an individual drinking it reasonably is incredibly low. Liquor is an addictive substance that once an individual beginnings taking, the person in question will most clearly drink all the more consistently. This propensity totally upsets the odds of encountering the beneficial outcomes of taking liquor and rather builds the destructive impacts. This implies the hazard overpowers the advantages and thusly it is just the negative impacts that stay prominent. There are numerous courses through which drinking liquor unreasonably can hurt your body. Liquor harms body organs and frameworks that are required for endurance. It very harms the cerebrum, liver, heart, resistant framework and pancreas (Palmera 29). To exacerbate the situation, liquor is a malignant growth causing specialist. When liquor is taken, it is quickly assimilated into the body and its belongings are confirm. To the mind, it causes monstrous loss of memory and unsteadiness, impacts which are destructive to the wellbeing of your body. Extreme liquor utilization additionally fundamentally influences the brain’s synapses and makes them wasteful in playing out their capacities. These impacts happening on the synapses of the cerebrum regularly

Corporate Communication of Qantas Group-Free-Samples for Students

Question: Recognize and strategicallyanalysecorporate notorieties and the attributes of their characters. Answer: Presentation: Jetstar Airways is a carrier administration organization of the Qantas Group working in Australia. With the minimal effort offices and the acknowledgment of the brand, Jetstar has had the option to have a perceived situation in the division (Jiang, 2013). The contextual investigation of the organization of Jetstar in the report estimates the corporate notoriety that it holds in the Australian market. It additionally expounds the different methods by which the organization can be influenced with the different fuses that the association makes. It in this way recommends the activities that the organization could embrace so as to outline its corporate picture. The report speaks to the significance of partner hypothesis for each organization and the pertinence of the partners who serve to be the reason for impacting the recognition about the association all in all. Organization foundation: Jetstar Airways Pty Ltd., usually known as Jetstar is the minimal effort aircrafts working in Australia with its central station at Melbourne. The carrier was sets up in 2003 in light of the dangers presented by the other minimal effort aircraft Virgin Australia. The organization is claimed by the Qantas and conveys about 8.5% of the absolute travelers venturing out to and from Australia (Jetstar Airways - Australia | Jetstar, 2018). It works around 4000 flight a week and has branches in New Zealand, Japan, Singapore and Vietnam (Jetstar Airways - Australia | Jetstar, 2018). The aircraft works both broadly and globally with its base at Melbourne Airport. The organization has a blended armada of the Boeing 787 Dreamliner and the A320 family that serves inside and across countries. Vermin examination: Being a piece of the aircraft business, the different variables that are influencing the market of the Jetstar aviation routes are as per the following: Political components Australia being a politically steady country, has rendered to the smooth activities of Jetstar aircrafts (Australia despite everything home for Qantas, 2018). The nation has a wide system of exchange and business that has profited the organization to a noteworthy degree. This has enhanced the economy of both the country and the aircraft organization. The travel industry that the nation has been advancing positively affects the aircrafts that would acquire benefits for them and bring to them progressively number of clients too. Financial elements because of the effect of the worldwide monetary emergency, the world travel showcase has been influenced gravely. The worldwide travelers traffic has not been expanding over 4% (Homsombat, Lei Fu, 2014). The expansion in fuel cost has likewise been influencing the business. This hampers the organization to continue its principle point of having low passages for the explorers. Social considers the progressions family and employment structures influence the aircraft business to a critical degree. Along these lines, the organization needs to continually figure arrangements in like manner. Individuals need to decide on numerous trips in a day because of work purposes. This is useful for the organization. Besides, the acknowledgment level of minimal effort air goes inside clients has empowered the Jetstar aviation routes to hold a decent notoriety. It has additionally opened up entryways for the organization to offer premium class voyaging administrations. Innovative components because of the headway of innovation, it has smoothen the procedures of aircraft industry. Online ticket appointments have gotten exceptionally viable for the two finishes (Dodgson, 2018). Also, the Jetstar aircraft has had the option to apply satellite innovation dependent on worldwide landing framework. Therefore, it tends to be broke down that the exhibition of the Jetstar organization has had the option to play out its exercises easily and in agreement to client benefits because of the different components that has quickened its food and execution essentially. Association structure: The CEO of the Qantas Group that possesses Jetstar aircrafts is Gareth Evans and Dean serves to be the CEO of Jetstar Australia and New Zealand (Jetstar Airways - Australia | Jetstar, 2018). They have a sorted out official group that works cooperatively for the achievement of the organization. The organization has code share concurrences with the American Airlines, the Emirates, Japan Airlines, Jin Air, Latam Chile and Qantas. The organization claims different stakes in the Asia-Pacific area and accomplices with nearby speculators to defeat outside proprietorships, traffic right limitations and lessen the capital venture. Partner hypothesis: The hypothesis of authoritative administration and morals that outline the center of the business forms collectively indicates to the Stakeholder hypothesis. It delivers to the ethics and qualities that must be considered in authoritative administration. The partner hypothesis mirrors the different standards on which every association must work in to help to the interests of the individuals who truly matters for the organization working. These individuals are the partners for the organizations. Partner hypothesis legitimizes the job of the center gatherings engaged with the business and its prosperity that incorporates the workers, clients, providers, political gatherings, government authorities, agents, exchange affiliations and worker's organizations (Harrison Wicks, 2013). Every one of these individuals have the ability to influence the business renderings and hence they are significant for its exhibition. The two parts of the partner hypothesis are regularizing, that characterize s the particular partners of the associations and the distinct, that looks at the different conditions on which the chief of the organizations regards the gatherings as partners. These are known as the distinguishing proof and notability parts of the hypothesis. The hypothesis has been scrutinized on numerous grounds yet has been fruitful in the business morals point of view. The partner hypothesis has been broadly used to evaluate the corporate social obligation of the organizations and is relevant to a wide range of enterprises. The hypothesis has been helpful to supplement the board issues identifying with the social, authoritative and singular predicaments. Partners of the association: The leader of the air terminal organizations at Jetstar expressed that association lies in the DNA of them. He implied that business organizations assume a significant job in the improvement of aircraft industry. The Jetstar carrier has three center double brand accomplices, 46 codeshare and interlines organizations. Aside from the inside partners being the representatives, administrators and other working individuals, the organization believes the clients to be the most esteemed partners. Leaving put the providers, financial specialists and government, the network heads and the travel industry and business authorities serve to be the partners of the organization. The different collusions that the organization intends to have in the Asia-Pacific area additionally record to be the partners for it Corporate Reputation Theory The corporate notoriety hypothesis clarifies that each organization has their picture according to the partners of the organization. These partners have their own observation about the picture of the organization. This might be certain or negative. On account of enormous organizations, the Corporate Reputation assumes a significant job. This is otherwise called the generosity of the organization. The organizations spend for the most part in territories of CSR to build the altruism (Cornelissen, 2017). Altruism is one of the elusive resources of the organization. It isn't seen by faculties however it is comprehended by the general view of the individuals in the organization. The partners of an organization incorporate the clients, the financial specialists, the providers, the sellers, the different tertiary organizations working with the organization and furthermore the representatives. The organization must have a truly steady corporate altruism that will help the organization in inc reasing new clients, expanding the quantity of financial specialists, holding workers and have better relationship with the merchants (Walker, 2010).. The CSR exercises on different levels, for example, Profit, People, and Planet, helps in increasing more speculators, making representatives progressively beneficial and picking up generosity. Organization conduct and Activities The organization is known for its extremely low evaluating of air tickets. The organization in its site likewise offers the client a 10% decline in cost on the off chance that they discover any organization offering lesser cost. In this way, the individuals of the nation has a discernment about the organization that it is financial plan and pocket benevolent. The organization has different Corporate Social Responsibilities conspires that it performs either without any assistance or as a team with different organizations. The organization has an association with World vision which has compassionate help ventures. The individuals who are living in neediness, particularly the children are given help to accomplish a superior future (Newsroom.jetstar.com, 2018). It works inside the fringes of Australia as well as in different nations in the middle of which the organization works flights including Cambodia, Indonesia, Myanmar, Thailand and Vietnam. The organization has a program for new companies and ventures that will improve the life of the nearby networks. Two activities are recorded in a specific order Flying Start New Zealand and Flying Start Australia. The organization has various activities and projects that try in diminishing the impacts on condition. The Fly Carbon Neutral Program, wherein the travelers of the organization can decide to fly carbon unbiased, in which the commitment is utilized to purchase confirmed carbon balance extends the world over. New airplanes which are brought are eco-friendly and furthermore the flight methodology is amended to help maintainability. The organization has a savvy and expert group for corporate correspondence procedure and media relations. This group handles the inward, outside and web based life interchanges. A solitary group playing out all the correspondence exercises makes it simpler and basic. The group has its essence in different nations, for example, Australia, New Zealand, Japan and Singap

10 Salary Negotiation Mistakes to Avoid

10 Salary Negotiation Mistakes to Avoid Money is not the easiest topics for having a conversation. Things can get even trickier when the conversation is about your salary. For many, talking about this is a discussion they’d rather avoid.The statistics speak this loud and clear. According to Glassdoor, 59% of employees accept the salary they are being offered without ever negotiating it. But perhaps the worse statistics is how only one in ten employees managed to successfully negotiate a salary. Therefore, even when you break the first barrier, you might hit a brick wall.The reason many fail to negotiate salary successfully is down to a few key mistakes people make. You can boil these down to ten most common and devastating mistakes in terms of salary success. So, let’s look at the ten mistakes you must avoid when negotiating your salary.1. NOT NEGOTIATING YOUR SALARY OFFERThe biggest mistake you can make is to not negotiate. Getting a job offer is exciting â€" your hard work is about to pay off and you’re finally get ting that job you want. But in all that excitement, you might end up making a bad mistake and simply agreeing to whatever the employer is suggesting. Similarly, you might be in your job, have added responsibilities and still stick to the same salary you’ve always had for months on end. It’s not that employers are actively looking to screw you over. Indeed, according to a Creative Group study, over 60% of executives are prepared to negotiate the initial offer they make to an employee. Furthermore, you should remember the business will always look for its own interests and sometimes they might simply forget to consider certain benefits outright. You need to be sure you know just what you’re settling for and never settle for a deal that isn’t actually worth it. Studies show that people who don’t negotiate their salaries tend to end up earning less in the long run! Indeed, one study has said those who don’t negotiate might lose up to $600,000 over the course of their working lives. You can seriously hurt your earning potential later down the line and if you end up with less than adequate pay, you might even feel a lack of motivation at work.How to avoid this mistake?There are two important things you must do in order to avoid this mistake. Prior to getting an offer, you should have an idea of what your worth is. Use a salary calculator or follow our guides to get a good grasp of what you should be getting. Have a lowest acceptable limit in mind and think about the other benefits that might make you feel happy to accept a job offer, even if the salary isn’t quite what you want.The second component is to simply stay calm and automatically ask the employer for time to go over the deal. You need the response of, “Thank you so much for the offer. I can’t wait to go over the deal and then get back to you,” come out of your mouth in a heartbeat. 2. FOCUSING ONLY ON YOUR SIDE OF THE ARGUMENTYou will have to fight your corner and stay strong when it com es to salary negotiations. But you have to remember you’re not the only party in this conversation and the employer also has reasons for suggesting specific figures.You are making a huge mistake if you appear to be inflexible and if you focus only on what you want to get out of the discussion. Just talking about your demands won’t get you very far â€" in fact, it’s going to help you get a better deal if you focus also on what the company can get out of the negotiations. Negotiations always involve two sides and understanding the other argument can make it easier for you to argue your case. By knowing what the pain points for the employer might be in terms of salary, you can put their minds at ease by answering them directly.How to avoid making this mistake?You should research the employer and know a few things. You should:Be aware of the kind of salaries and compensation packages they generally offer. It’s unlikely they would give you a very different deal to anyone else.Kno w what kind of financial situation the company currently ask. Demanding a high pay when the company seems to be laying off staff, for example, might seem inappropriate and impossible for the company to fulfill. If you focus on those two points, you get a better understanding of what the employer might be willing and able to pay. You need to remember to stay realistic and flexible.3. OVERLOOKING THE IMPORTANCE OF PROPER RESEARCHThe basis of negotiating and doing so successfully is all about research. You’re making a huge mistake if you get into the negotiations without researching:Average salaries in that roleAverage salaries in the companyYour actual worth and valueBenefits and perks aside from the salaryYou can lose out on a proper salary by simply throwing random figures in the air and then settling for whatever you think is good. If the employer notices that you don’t know what you’re talking about and what the market conditions are, then they can give you a bad deal â€" or get second thoughts about hiring someone with such lack of preparation.How to avoid this mistake?You have a range of online tools available to conduct research on those all-important points mentioned above. You can find salary and company information from sites like:Indeed.comSalary.comRandstad.caMonster.comPayScale.comYou should also look at the company website and the job profiles to ensure you understand the responsibilities and tasks you need to perform in the role. Finally, it can be helpful to talk to your network and get their perspectives on the company, the current salary markets and your talent. 4. MAKING HASTY DECISIONS TO ACCEPT OR TO DECLINE THE OFFERJust as it can be tempting to overlook the negotiations altogether, you might also feel like you have to make your decision or counteroffer quickly. Rushing your decision to accept or to reject the salary can seem tempting but it would be another big mistake.Accepting a salary is a big decision â€" it can have a huge impac t on your career. You don’t want to make the decision in haste only to regret it later. As mentioned, it could hurt your future earning potential, damage your career progress, and ruin your motivation.How to avoid this mistake?It’s important to take your time when considering your response. You have to remember the key steps of response:Thank about the offer.Repeat the offer and ask for it to be sent to you so you have it all written down.Ask time to go over the details (at least a day or two).Thank again for the offer and reiterate when you’ll get back to it.You then simply have to sit down and perhaps even write down your initial thoughts. Consider it more and have a discussion with your family or friends, as well as anyone you feel would be able to give you advice. Sleep on the offer and go over it again â€" consider all the different options before you renegotiate or reject or accept the offer.5. REVEALING YOUR LOWEST SALARY LIMITOne of the biggest negotiating mistakes in any negotiation is to reveal your negotiating position. You do not want the employer to know what your limit is right from the get-go. You have to maintain a poker face. This is especially crucial in terms of the minimum salary you’re willing to accept. If you tell the employer that “X” amount of money is your lowest acceptable figure, you are inviting them to just stick to that figure. What reason would they have to pay you any more when they know you’d accept less? Financially it wouldn’t make sense; as a business, they want their expenses to remain low.How to avoid this mistake?The employer might ask you for a figure during the job interview or around the time they are willing to make an offer. The way to avoid revealing too much is to conceal any figures during this time and simply focus on saying you believe you will be able to reach a good agreement when the time comes to it. First, if you’re asked about your salary figures prior to receiving an offer, you could:Si mply say:“To me, it’s important to find a job that I can contribute in and do my best and I believe when this happens, the right salary will follow.”“I believe that we can talk about the salary once we’ve talked a bit more about my role and made sure I’m the right fit for the company.”“Perhaps you can let me know just what kind of expectations you have for me in regards of the role and then we can consider what I bring to the table.”If you’re asked about your salary hope during the negotiation, it’s important to remember to:Always give a salary range that’s higher than your absolute red line.Focus on a realistic figure both in terms of what the employment market is showing and what the company can afford.6. FORGETTING TO CONSIDER THE NON-SALARY ITEMSAs mentioned above, your salary package often contains more than just the lump sum of money you get for the work you do. It’s important to remember, then, that you shouldn’t focus your negotiations just on the salary. There are plenty of other monetary and non-monetary benefits you should consider before you decide whether a salary offer is good or bad. You should consider any non-salary item that might be important to you and make the job offer even more enticing. It’s more likely you’ll end up with a better deal because it might be that the employer can’t budge much with the salary but they can make adjustments with other benefits. How to avoid this mistake?Think prior to your salary negotiations what other non-salary items you’re interested in and which might be enough even if the pay isn’t exactly what you want. Non-salary items can be other monetary and non-monetary benefits such as:Bonuses and commissionsAn agreed raise in the futurePaid or non-paid vacation timeHealthcarePension or investment schemesMembership to gym, movie theatre and other such clubsChildcareDiscount schemesIt might even be something to do with your work. For example, you could negotiate flexible work hours that allow you to choose your own work hours or to work from home. There are many such perks you might ask for that can make the job offer more appealing and valuable to you. 7. TALKING ABOUT NEEDS RATHER THAN VALUEYou’re making a big mistake if you frame the negotiations around your needs. Of course, we all need a salary to live and to maintain a lifestyle but this isn’t a reason for the employer â€" they don’t need to give you money just because you need it.If you say things like, “Well, I really need at least $50k to live”, you are making the negotiations just about you and that’s not the point here. Your salary has to reflect the value you provide to the employer. The employer will pay you because you also add to the value the organization has and can make. You simply won’t be able to convince an employer to pay you more if you don’t convince them of the value you can provide. The bottom line is that it’s not about needs it’s about value.How to avoid th is mistake?The most important thing here is to know your worth. The above points have already directed you to different resources and tools that allow you to calculate your worth. It’s essential to do this research â€" it will help you in the negotiations.Another point to add here is the importance of presenting your argument with strong proof and facts. You don’t want to just say that your worth is X but you have to show why it’s X. Here’s a good example of a good and a bad argument for your salary:The bad argument:“According to my research, a salary of $40k would best reflect the value I can bring to the company.”The good argument:“I think my previous record shows that a salary of $40k would reflect my value. As you can see from this value portfolio I created, in my previous role I was in charge of a similar portfolio than I would in this role and I managed to increase sales by 40% just in three months. I think a similar scheme I ran there would boost the sales here too and I have this report here of some points for you to look at.”The good example works because it:Quantifies your achievements and highlights the actual value you’ve created in previous roles.Shows that you have experience in similar kind of tasks or roles.Tells the employer you already have ideas on how to succeed in the role and add to the value.8. HIDING BEHIND E-MAILMoney is among those topics people find uncomfortable to talk about. According to PayScale’s study, 28% of people find negotiating salary uncomfortable, with nearly 20% of respondents saying they don’t negotiate out of a fear of being seemed pushy. Because of this, many might feel like it’s a good idea to keep the conversation limited and to just rely on the power of e-mail. But hiding behind e-mail will hurt your negotiating power.There are many problems with e-mail negotiations. First of all, it’s not practical. Replies can take longer and you don’t know when to expect a response. You also can’t read the person’s body language and this plays an important role. You can’t see if they seem irritated, happy, annoyed, panicked and so on â€" those little cues you might be able to read when you’re talking face-to-face. How to avoid this mistake?It’s important to set up meetings to discuss the offer. You might receive the offer via e-mail (and as the next point will show, it’s important to have a written record of it) and you can respond initially with e-mail. However, you have to set up a meeting to discuss your thoughts and to conduct the actual negotiation. Therefore, you might respond by thanking for the offer, asking for a bit of time to go over it and then requesting a meeting to discuss it in person. If the employer for some reason insists on settling it via e-mails or phone, stay stern and just say you would feel more comfortable discussing these things in person. If for some reason they don’t seem to agree, well, it might not be such a good place to work after all!9. NOT ASKING FOR THE OFFER IN WRITINGYou might have noticed in the previous points how you’re asked to ask the offer in writing. Not asking for the offer in writing can indeed be a big mistake to make. There are two important points to this.First, you are better able to remember just what is being offered. You might be so excited when the offer comes in that you’re not properly listening to the different numbers and figures being mentioned. As the negotiations move on you might be mixed up with all the numbers you’ve discussed. Therefore, by having it written down, you know just what the current offer is and you’re all talking about the same thing.Second is the importance of having it written down in a legal standpoint. Again, it’s not to say that the employer might willingly want to lead you on but you won’t have many guarantees of anything if all you have is, “But they said so”. By getting the offer in writing, you have proof that everyone has agreed to this a nd that figure and benefits. How to avoid this mistake?Before you even start negotiating or thinking about an offer, you always want to ask the employer to send you the offer in writing. Even with the initial offer. As you start negotiating and you reach another offer, ask that in writing as well. It’s crucially important to ask for the final offer in writing, too. Do not accept an offer before you also have a written copy of it. 10. TAKING THE SALARY OFFER PERSONALLYFinally, of the major mistakes people make when negotiating a salary, or talking about money in general, is to take it personally. You shouldn’t be emotionally invested in the negotiations and you shouldn’t take it personally at any point.This can be easier said than done. After all, your salary is essentially a reflection of your worth. However, the employer doesn’t mean your value as a human is this or that. If you start adding emotions to the mix, you will end up hurting your negotiating power. Never threaten the employer during the negotiations. You’ll make a huge mistake by giving ultimatums or by trying to play the sympathy card. You must realize that, while it might not be easy, the employer can always find someone else to do the job. In the current job market, it’s difficult, if not impossible, to be irreplaceable. How to avoid this mistake?You can avoid this problem from arising by reminding yourself that the salary is always a business decision. Employers don’t pay a salary based on just what they think you deserve as a human â€" you can be the nicest person on the planet. This is business. The person deciding your salary might well think you should get more but the company might simply not have the financial means to offer it. If you find yourself getting emotional about the offer at any point during the negotiations, just take a moment. Breath in and remember that this isn’t personal, it’s just business. Do the research on the company and your own worth and you’ll k now just what the realistic expectations are. This will give you the confidence to move on with the negotiations. AVOIDING MISTAKES WILL LEAD TO SALARY SUCCESSAs the examples above show, you could really damage your earning potential by making negotiating mistakes. It’s important to keep a cool head and understand that negotiating is part of the deal of getting a good salary. You just have to:Do your researchFocus on your valueUnderstand the employer’s positionLeave the emotions out of itIf you focus on these four points, you can avoid these top ten negotiating mistakes and get the salary you deserve!

Plato s Meno True Opinion Vs. - 983 Words

Plato’s Meno: True Opinion vs Knowlege Socrates was one of the most influential and thought-provocative people in all of Ancient Greece; he was so monumental in his teachings that his theories and argumentative styles are still utilized today. One of Socrates’ most influential students was Plato, another ancient philosopher that followed Socrates through Greece and kept record of his arguments and teachings, who would go on to be some of the most significant philosophical academia to ever be published. In one of Plato’s recordings, the Meno, he records an argument that Socrates enters with a friend of his, Meno. In this argument, Socrates and Meno are attempting to define virtue, and are having a very difficult time in doing so considering that they were two brilliant and learned men. In the Meno, Socrates argues that true opinion and knowledge differ from each other, although sometimes it seems that they can serve as replacements for one another. However, Socrat es is able to form an argument to help Meno see how knowledge and true opinion differ from each other. As I read the Meno, I found that I agreed with Socrates and his platform which argued that the two did in fact differ from each other, but they could also serve as two separate means for the same ending. While Socrates and Meno were having their debate over the definition of virtue, Socrates asks Meno if he thought that he had a definition of virtue, and Meno began listing what virtue would entail for different

International Tourism s Effect On Medical Tourism

Introduction In this paper, I will evaluate Hallyu in regards to its effect on medical tourism. However, I will first define the terms in order to give a clearer picture of what is Hallyu and which medical tourism I am referring too. Hallyu is defined as the growing popularity of Korean-based products that include drama, film, and pop music (Kim). It is also used to describe the fast spreading popularity of Korean culture like food, clothing, and housing. Recently, Hallyu or Korean Wave has not just swept over Asia, but also Middle East, Africa, and America. Out of all sector, medical tourism is one of the biggest areas that received big impacts from Hallyu. Medical tourism is defined as the process of travelling outside residency country†¦show more content†¦In fact, Japanese Prime Minister Junichiro Koizumi admits that Bae Yon-joon, the lead actor of the series is more famous than him (Lee). These forces develop interests for non-Korean to engage with Korean lifestyle (Kim ). It fosters them to try eating Korean food, learning their language, and dressing like Korean to an extent that Hallyu is cultivated in their daily routine (Hae-Joang 147-150). Hallyu has highlighted medical tourism through the representation of celebrities on screen and paper in which they are portrayed to have a perfect looking skin. For example, in dramas like Boys over Flower, all characters including the unfortunate one’s are portrayed to have that flawless and impeccable looks (Glynn, Basil, and Kim 1-2). This set a high beauty standard for the viewers to attain. They are willing to spend a lot of money to travel to South Korea just to find out the secret and truth about Korean beauty. Then, plastic surgery becomes a known and popular alternative for them to achieve that dream. The industry booms even farther after knowing that cosmetic surgery is common for Korean people. International Society of Aesthetic Plastic Surgery (ISAPS) reports that there would be a person out of every five people that undergo plastic surgery in Korea based on 100,000 of Korea’s general population (Eun). In 2010, the number of non-Korean patients is only 82,00 0, however, in 2016 the number increases to 400,000 (Arirang TV). The rise of HallyuShow MoreRelatedPublic Policy Paper Healthcare Vs Medical Tourism Essay1338 Words   |  6 PagesPublic Policy Paper Healthcare VS Medical Tourism Melodie Dominique Palm Beach Atlantic University GBUS 2813 01 American Free Enterprise Professor Tom Miller October 16, 2016 PUBLIC POLICY PAPER 2 America is portrayed throughout the globe as the land of opportunity and the home of the free. With all that the U.S. has to offer, it is unethical to see how the health care system has failed and is continuing to fail countless Americans. 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The worth of such tourism was $919Read MoreUnited National Environment Program Environment For Development ( Unep )2210 Words   |  9 Pagesenvironment program environment for development (UNEP) Tourism and Economic Conservation The main positive economic impacts of tourism relate to foreign exchange earnings, contributions to government revenues, and generation of employment and business opportunities. These are discussed briefly here; further information on economic contributions from tourism can be found at the World Travel Tourism Council s home page. Foreign exchange earnings Tourism expenditures and the export and import of relatedRead MoreMedical Tourism22177 Words   |  89 PagesTanaka Business School Imperial College London An Insight into Malaysia’s Medical Tourism Industry from a New Entrant Perspective by Mr. Bhavin J. 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Financing Climate Change for Economic Development (a Case Study of Nigeria) Free Essays

FINANCING CLIMATE CHANGE FOR ECONOMIC DEVELOPMENT (A CASE STUDY OF NIGERIA) Written By: ABORISADE OLUWASOGO OLANREWAJU SUBMITTED TO THE DEPARTMENT OF ACCOUNTING BANKING AND FINANCE OSUN STATE UNIVERSITY OSOGBO, OKUKU SUPERVISED BY: MR OLANREWAJU FATOKI ABSTRACT Climate change adaptation is increasingly becoming an area of growing interest and involvement for many developing countries that unfortunately bear the brunt of an overheating planet caused by developed or so called advanced countries. The uncertain effects of a changing climate on Nigeria’s economy pose significant setbacks for meeting development targets like Nigeria’s aspiration to be among the twenty best performing economies of the world by the year 2020 [Vision 20:20:20] and achievement of the Millennium Development Goals. The fact that Africa’s most populous country runs dangerously on a mono-product economy oiled by cheap hydrocarbon deposits, underscores this heavy dependence on natural resources. We will write a custom essay sample on Financing Climate Change for Economic Development (a Case Study of Nigeria) or any similar topic only for you Order Now Climate change-induced losses and the unsustainable use of these invaluable resources appear to be a harmful problem that has elevated itself to a real development challenge in Nigeria. It is not difficult to see that Nigeria’s climate security vulnerability lies predominantly along the coastal, littoral states of the south and the northern frontline states as a result of a combination of high physical exposure as well as low household and community resilience. Poor adaptive responses to growing shifts in temperature, rainfall, storms, and sea levels could help fuel violent conflict in some areas of the country due to shortages of resources such as land and water which breeds negative secondary impacts such as more sickness, hunger, and joblessness, which in turn flings the doors to conflict and social chaos wide open. These problems are further compounded by a lack of institutional, legislative and fiscal capacity for effective management of natural resources and stability of the ecosystem; leading to educed farm productivity, increased work load particularly on women, and a dislocated rural economy. Mitigation and adaptation are both necessary to alleviate the impacts of a changing global climate on our local communities and national economy. This research work therefore discuses climate change in Nigeria and ways it could be finance to increase economic development in Nigeria. INTRODUCTION Climate Change is a term used for changes in wea ther condition in the past few years said to be caused by Global Warming. Global Warming is increase in the average temperature of planet earth which is said to be caused by continuous emission of gases that trap heat to the earth’s atmosphere. Climate Change and Global warming are often used interchangeably. In an upper part of the atmosphere called the troposphere 10-19km above sea level, certain gases trap heat to the earth to make it warm. Without these gases, the average temperature of the earth will be 33OC colder not able to support life for humans and several living things. These heat trapping gases for their action that resembles heat trapping effect to a glass house in Physics are called Green House Gases (GHG). There are a number of GHG known with some more potent and available than others, these GHG have a natural cycle that keep them balanced and available at certain range in the earth’s atmosphere for their function to keep the earth warm. Certain anthropogenic activities like burning of fossil fuels release gaseous products made up of one or more GH gas. Nigeria’s economy though heavily dependent on oil is sustained by agriculture and has thus become increasingly constrained. Both source of revenue for the economy is vulnerable to climate change crisis. Sustainable development of these sectors of the economy can only be achieved if processes in use are in favour and harmony with the environment. Although, Nigeria is not a major player in the green house gas emission compared to the western countries, the country has contributed to the depletion of the ozone layer through continuous gas flaring emission by multinational oil corporation in Niger Delta region. Climate change has become a global concern with harmful effects as seasonal cycles are hindered. For example, food production and water supply are adversely affected by the effects of climate change and if care is not taken, it will affect the economy in a drastic way. Nigeria and Climate Change Nigeria is exposed to the dangers of climate change, which is now a global issue. The dangers pose serious threats to existing environmental problems like desertification, erosion, flooding, and ecological devastation. Considering the strong connection between climate change and development, Nigeria is highly at risk in the area of food security, poverty reduction, energy and most importantly, infrastructure and general economic development. In view of this anyway, Nigeria’s efforts and actions must be informed by these realities. For example, it is estimated that in the Sudan-Sahel area of Nigeria, between 89,297 and 133,944 square kilometers of arable land would be at risk. It is estimated that the capital value at risk stands at about US$6. 4 billion for the current level of development, (NCCC, 2003). In December 2009, Nigeria like many other countries had the opportunity to tackle its climate change issues at Copenhagen, the capital and largest city in Denmark. However, climate change cannot be successfully addressed by any individual country it requires therefore substantial action and continuous efforts. These actions include nations’ investing in programmes and projects aimed at reducing the emissions of greenhouse gases (GHG’s), and contribute to adapting to climatic changes. Nigeria is committing itself to facing the challenges that climate change presents within its borders and is acting rapidly to ensure that the Copenhagen deal is the best for Nigeria and Africa. This is being achieved by continuing to form partnerships globally and regionally, and by promoting the development of alternative energy sources internally. Nigeria believes that climate change poses important threats to Africa, while equally offering some unique opportunities to generate new revenues and build more diverse and resilient economies. For example, a policy like the Clean Development Mechanism (CDM) if designed to have an African focus could generate investments worth billions of US dollars every year. Causes of climate change The climatologists have found evidence to suggest that some factors are primarily responsible for most of the past episode of climate change on the earth and which needs to be addressed urgently. These factors include: (a. ) Radioactive forcing A process which alters the energy balances of the earth-atmosphere system is known as radioactive forcing mechanism (Shine et al, 2010). These may include degree of difference in the earth’s orbit around the sun, solar radiation, volcanic activity and atmospheric composition. (b. ) Non- radioactive forcing Any change in the climate must involve some form of energy redistribution within the global climate system. Yet there are forcing agents who do not affect directly the energy budget of the atmosphere (the balance between incoming solar radiation and outgoing terrestrial radiation). These are considered to be non- radioactive mechanism of global climate change. Such agents usually operate over vast time scales [107 to 109] and mainly include those which affect the climate through their influence over the geometry of the earth’s surface, such as location and size of mountain ranges and position of the ocean basins. (c. ) External forcing This section discusses some of the various external forcing mechanisms operating over time a scale of 10 years to 109 years. (i. ) Galactic variations The orbit of the solar system about the centre of the galaxy has been considered as a possible external climate forcing mechanism (Hugget, 1991). During the course of a galactic years [now estimates at 303million years] variation in the inter stellar medium (William, Isaac and Shoo, 1975) may also suggest that variation in gravitation torque induced by galaxy’s near neighbors, the small and large megellanic clouds, could have far reaching consequences for the earth’s climate. ii. ) Orogeny It is the name given to a tectonic process of mountain building and continental uplift. Such mechanisms operate over tens or even hundreds of millions of years. The earth’s outer surface, a layer known as the lithosphere {made up of the crust and the upper section of the mantle}, is broken up into 12 different plates which are co nstantly adjusting their positions relatively to each other and such movements are driven by the internal convective dynamics within the earth mantle. When plates collide, one may either be subdued beneath another or both are pushed continually together, forcing upwards any continental land masses, to form long mountain range. (iii. ) Epeirogeny It is a term that describes changes in the global disposition of land masses and like organic process, this changes are driven by internal plate tectonic movements. Continents move around the globe at a rate of several centimeters per year owning to the slowness of the internal dynamics of the earth. However, over tens or hundreds of millions of years, both the size and position of land area can change appreciably. iv. ) Volcanic activity Explosive eruption can inject large quantities of dust and gaseous materials [such as sulphur dioxide] into the upper atmosphere [the stratosphere], where sulphur is rapidly converted into sulphuric acid aerosols. Whereas volcanic pollution of the lower atmosphere is removed within days by the effects of rainfall and gravity, stratospheric pollution may re main there for several years, gradually spreading to cover much of the globe. A volcanic activity has the ability to affect global climate on a longer time scale. Over periods of millions or even tens of millions of years, increased volcanic activity can emit enormous volumes of green house gases, with the potential of substantial global warming (Pickering ; Owen, 2004; Rampino ; Volk, 2006]. However, the global cooling effect of sulphur dioxide emissions will act to counter the green house warming and the resultant climate change remains uncertain. (v. ) Ocean circulation It was identified that the oceans store an immense amount of heat energy, and consequently play a crucial role in the regulation of the global climatic system. In order to explain the observed hemispheric syncronity of glaciations, despite periods of directly opposed orbital forcing in the two hemispheres, many researchers have looked to the oceans. Although, in this sense, changes in oceans circulation has traditionally been viewed as internal forcing mechanisms in its own right. Economic implications of Climate change The estimates of economic impact on climate change are typically based on ‘damage function’. The estimates cover a variety of climate impacts that are usually grouped as ‘market impact’ and ‘non-market impact’. Market impacts include effects on climate sensitive sectors such as agriculture, forestry, fisheries and tourism; damage to coastal areas from sea level rises; changes in energy expenditure (for heating and cooling) and changes in water resources. The non-market impacts cover the effects of climate change on health; leisure activities, ecosystem and human settlements. The economic implications of climate change in Nigeria are discussed below: (a. ) Agriculture, Forestry and Fisheries McCarl (2007) reported that 70% of the workforce in Nigeria relies on rain-fed agriculture for their livelihood. He noted that agriculture is affected by climate change as a result of reduction in quantity and quality of yields; changes in crop practices through changes in water use (irrigation) and cost of agricultural inputs such as herbicides, insecticides and fertilizers; Environmental effects particularly due to frequency and intensity of soil damage leading to nitrogen leaching, soil erosion and reduction of crop diversity. Other effects are adaptation of organisms and plants to flood, salinity and temperature, collapse of flourishing profitable investment and a sharp downturn of national economy. According to Okali (2004), droughts usually increase in occurrence, having a huge impact, especially in the dry North as a result of desertification. (b. ) Tourism and Leisure activities The forest is the abode for wildlife. If the forests disappear, the wildlife goes with it. Sites of tourist attractions in Nigeria are vulnerable to climate change. The waterfalls, the lakes, the river basins, the ocean views, the beaches, the ranches etc. may be nowhere to be found. Due to this, the huge investment of both the government and the private sector in tourism and leisure activities may be eroded. Loss of revenue and the lay-off of those employed in this sector of the economy will impose financial strain on the economy. (c. ) Coastal areas and Sea level rises Not less than seven out of the thirty-six states in Nigeria is in the coastal area. Nigeria’s coastal zone is richly blessed with various natural resources such as crude oil and fish, which are presently being exploited for economic gains. The global climate change and the concomitant sea level rises will have adverse effects on the coastal zone. Nigeria could lose over 18,000 square kilometers of the coastal land and the natural resources contained therein as well as experience disruption in socio-economic activities. This will also increase the salinity of the fresh water, thereby affecting aquatic life. Loss of revenue and GDP and the attendant impact of rendering the inhabitants of the coastal areas, who are pre-dominantly fishermen, unemployed. (d. ) Human settlement Desert encroachment is becoming a threat from the northern part of Nigeria due to desertification. The inadequate trees in some parts of the North have resulted in unfavourable living condition and displacement of many human settlements. The rising sea level and gully erosion are equally claiming several kilometers in the coastal areas especially the southern part of the country. Valuable resources and infrastructures of the country are found in this area and if the sea claims these places, the economy of the nation will be affected. The Tsunami incidence in Japan on 12th March 2011, which claimed thousands of lives and properties worth billions of dollars, is a warning signal. It is also very important that Nigeria lend a clue from the bitter experience of Japan. (e. ) Health Increased temperature in the various regions could result in high incidence of malaria and other diseases that affect humans due to high temperature. The possibility of water-borne diseases as a result of the sea level rises cannot be ruled out. The implication of this is that there would be an increase in the cost of maintaining a healthy nation. It is note-worthy that this might frustrate the recent effort by government and relevant international health agencies to halt the scourge of malaria and other diseases. f) Industry and manufacturing The effect of global warming on the climate-vulnerable sectors of the economy (agriculture and the coastal resources) that provide input for the industry and manufacturing is another area of concern. The infant industries and the small and medium scale enterprises could be threatened. This is because only the big ones will be able to pay the hig h prices of manufacturing inputs. The GDP will be adversely affected by the inability of the small businesses to operate since they act as catalysts for economic growth and development. g) Financial services sector This sector serves as the intermediary between the deficit sector and the surplus sector of the economy. Owing to the ability of the big companies who are mostly quoted on the stock exchange to weather the storm of the likely downturn, they will force the market into an initial boom, which may not last, only to be followed, subsequent to its effect on the climate sensitive sectors, by a devastating and catastrophic burst because no entity or segment of the economy would be left out. Hence, there is the tendency of experiencing what could be best described as ‘climate induced inflation’. Odjugbo (2010) noted that climate has a significant effect on the country’s economy. Climate Change Financing Providing financial support to developing countries like Nigeria to help mitigate the effects of climate change and adapt to its impacts will be crucial to achieving agreement at the United Nations Framework Convention on Climate Change (UNFCCC) in Copenhagen in December 2009. This makes financing one of the most critical issues in international climate change negotiations. The major issues that need funding in order to address climate change properly are observed to include mitigation, adaptation, technology transfer and capacity building of institutions and personnel. Funding must benefit from domestic and international sources. The major sources of domestic resources to finance development in Nigeria have been domestic savings which are channeled into development through various formal and informal avenues, taxation, domestic borrowing (including borrowing from the banking system and private sector), bond financing, external reserves, surpluses of public enterprises, and very importantly, the oil sector. Domestic resources should ideally constitute the major source of financing development and should be the first port of call. It is a better long term option in the achievement of any longer term development goals. On the other hand, external resources should be seen as providing supplementary finance to domestic resources. External finance has proved difficult to predict and sustain. Indeed, some forms of external finance, for example, ODA, portfolio investment and bank lending that may appear to be important have tended to be highly volatile and hence potentially risky and problematic for development. Also, there has been skepticism about aid effectiveness such that ‘despite the declared huge disbursement by donors, there is not much on the ground to show for it’ (NPC, 2008). If domestic resources must provide a robust basis for sustainable progress in meeting the climate change challenges, then policies need to be implemented which would increase domestic saving and raise the revenue (tax and nontax) GDP ratio significantly beyond current levels. As at June 30 2009 there remain few well known sources of domestic financing for climate change adaptation/mitigation, renewable/green energy projects in Nigeria. Whilst we suspect that there are some in-house sources of finance being discussed within various institutions, these are not yet publicly known and are at their primary stage of development where they do exist. With respect to mitigation, a lot of resources are needed particularly in acquiring technology. Nigeria supports the initiative for the establishment of a Multilateral Technology Acquisition Fund to buy Intellectual property Rights (IPR) which is a major constraint to technology transfer. Most of the resources for mitigation have moved to the developed countries over the years. Nigeria supports therefore the review of this anomaly for equitable distribution. Mitigation resources should also come to developing countries so that their developmental efforts do not finally result in injecting more GHG into the atmosphere. Nigeria should team up with other African countries and the G77 to seek for greater access to Adaptation Funds. Many of the potential adaptation projects which are urgent require considerable capital investment that the Fund can best provide. The significance of this is that this source of funding is reliable and predictable. Demand notices requiring for settling of counterpart Funds should be sent early enough to facilitate the processing of payment. Nigeria should team up with other countries to ask for the change in the present arrangement in which developed countries alone produce the CEOs of the GEF. In the future, the position should be alternately occupied by candidates from the developed and developing countries to reflect the global character of this institution. Constraints to financing climate change in Nigeria Some of the expected major sources of financing climate change in Nigeria encounter a lot of challenges/constraints. Some of these are as follows: – * The precarious dependence of government revenue on the oil sector. Thus, any shortfalls in oil revenue will adversely affect climate change mitigation/adaptation. Projected government financing of climate change may partly depend on economic growth performance and may not be realized if the growth performance is weak. The need to lay a solid foundation for sustainable growth, rely more on domestic sources of financing especially noninflationary sources, and diversify the revenue base away from oil to non oil tax sources. In addition to the above, the following issues have been identified as current constraints that are hampering progress in efforts to tackle climate change activities in the country: * Lack of a regulatory framework that should guide any institutional governance and the activities of climate change have discouraged local lending to renewable energy projects, foreign direct investment (FDI), and significant take-off of the CDM market. The lack of an established and working climate change institution has encumbered the drawing up of a broad-based and robust regulatory framework that can, with the assistance of consultants and advisers in this area, ensure world-class practices being put in place in Nigeria as part of the structure. * Absence of definite budgets within the various government ministries, departments, and agencies to incorporate climate change activities in national development within the broader Nigerian society. Lack of moral persuasion by the federal government on private enterprise to focus on driving climate change mitigation strategies and business development. * Lack of general educational campaign to advise financial institutions, corporate bodies and civil society on the merits of investing in Green Energy and the CDM m arket has greatly hampered the take off of all related projects. Lack of knowledge by financial institutions on investment within the new ‘green’ economy in all its ramifications due to lack of capacity build-up in this area. * Lack of knowledge among most local financial institutions on how to advise clients to access CDM funds for their projects which leads to less revenue being generated from carbon sequestration projects. CONCLUSION Nigeria cannot afford to be left outing the fringes of achieving environmental sustainability, alleviating poverty and reducing extreme hunger in line with the millennium development goals. The Government of Nigeria must as a matter of expediency treat the problems associated with climate change on the economy with urgency by adhering to international environmental treaties and embarking on massive and aggressive sensitization of the citizens on the problems associated with global warming and the steps that can be taken to address the concern. The government needs to sensitize Nigerians on the need to be more environmental friendly, evolve a change in consumer behaviour and ensure effective utilization of financial resources to mitigate the effects of climate change. REFERENCE Odjugo, P. A. O. (2010). Regional evidence of climate change in Nigeria. Journal of Geography and Regional Planning, 3(6), pp. 142-150 United Nations Organization. (2010). Climate Change Conference in Cancun leads to agreements Sass. R. L. , (2009), Frequently Asked Questions: Climate Change, James A. Baker III Institute for Public Policy, Rice University United States Central Intelligence Agency World Fact Book (2011), https://www. cia. gov/library/publications/the-world-factbook/geos/ni. html United States Climate Science Program (2008), Trends in Emissions of Ozone Depleting Substances, Ozone Layer Recovery and Implications for Ultra Violet Radiation Exposure Synthesis and Assessment Product 2. 4 How to cite Financing Climate Change for Economic Development (a Case Study of Nigeria), Free Case study samples

Financing Climate Change for Economic Development (a Case Study of Nigeria) Free Essays

FINANCING CLIMATE CHANGE FOR ECONOMIC DEVELOPMENT (A CASE STUDY OF NIGERIA) Written By: ABORISADE OLUWASOGO OLANREWAJU SUBMITTED TO THE DEPARTMENT OF ACCOUNTING BANKING AND FINANCE OSUN STATE UNIVERSITY OSOGBO, OKUKU SUPERVISED BY: MR OLANREWAJU FATOKI ABSTRACT Climate change adaptation is increasingly becoming an area of growing interest and involvement for many developing countries that unfortunately bear the brunt of an overheating planet caused by developed or so called advanced countries. The uncertain effects of a changing climate on Nigeria’s economy pose significant setbacks for meeting development targets like Nigeria’s aspiration to be among the twenty best performing economies of the world by the year 2020 [Vision 20:20:20] and achievement of the Millennium Development Goals. The fact that Africa’s most populous country runs dangerously on a mono-product economy oiled by cheap hydrocarbon deposits, underscores this heavy dependence on natural resources. We will write a custom essay sample on Financing Climate Change for Economic Development (a Case Study of Nigeria) or any similar topic only for you Order Now Climate change-induced losses and the unsustainable use of these invaluable resources appear to be a harmful problem that has elevated itself to a real development challenge in Nigeria. It is not difficult to see that Nigeria’s climate security vulnerability lies predominantly along the coastal, littoral states of the south and the northern frontline states as a result of a combination of high physical exposure as well as low household and community resilience. Poor adaptive responses to growing shifts in temperature, rainfall, storms, and sea levels could help fuel violent conflict in some areas of the country due to shortages of resources such as land and water which breeds negative secondary impacts such as more sickness, hunger, and joblessness, which in turn flings the doors to conflict and social chaos wide open. These problems are further compounded by a lack of institutional, legislative and fiscal capacity for effective management of natural resources and stability of the ecosystem; leading to educed farm productivity, increased work load particularly on women, and a dislocated rural economy. Mitigation and adaptation are both necessary to alleviate the impacts of a changing global climate on our local communities and national economy. This research work therefore discuses climate change in Nigeria and ways it could be finance to increase economic development in Nigeria. INTRODUCTION Climate Change is a term used for changes in wea ther condition in the past few years said to be caused by Global Warming. Global Warming is increase in the average temperature of planet earth which is said to be caused by continuous emission of gases that trap heat to the earth’s atmosphere. Climate Change and Global warming are often used interchangeably. In an upper part of the atmosphere called the troposphere 10-19km above sea level, certain gases trap heat to the earth to make it warm. Without these gases, the average temperature of the earth will be 33OC colder not able to support life for humans and several living things. These heat trapping gases for their action that resembles heat trapping effect to a glass house in Physics are called Green House Gases (GHG). There are a number of GHG known with some more potent and available than others, these GHG have a natural cycle that keep them balanced and available at certain range in the earth’s atmosphere for their function to keep the earth warm. Certain anthropogenic activities like burning of fossil fuels release gaseous products made up of one or more GH gas. Nigeria’s economy though heavily dependent on oil is sustained by agriculture and has thus become increasingly constrained. Both source of revenue for the economy is vulnerable to climate change crisis. Sustainable development of these sectors of the economy can only be achieved if processes in use are in favour and harmony with the environment. Although, Nigeria is not a major player in the green house gas emission compared to the western countries, the country has contributed to the depletion of the ozone layer through continuous gas flaring emission by multinational oil corporation in Niger Delta region. Climate change has become a global concern with harmful effects as seasonal cycles are hindered. For example, food production and water supply are adversely affected by the effects of climate change and if care is not taken, it will affect the economy in a drastic way. Nigeria and Climate Change Nigeria is exposed to the dangers of climate change, which is now a global issue. The dangers pose serious threats to existing environmental problems like desertification, erosion, flooding, and ecological devastation. Considering the strong connection between climate change and development, Nigeria is highly at risk in the area of food security, poverty reduction, energy and most importantly, infrastructure and general economic development. In view of this anyway, Nigeria’s efforts and actions must be informed by these realities. For example, it is estimated that in the Sudan-Sahel area of Nigeria, between 89,297 and 133,944 square kilometers of arable land would be at risk. It is estimated that the capital value at risk stands at about US$6. 4 billion for the current level of development, (NCCC, 2003). In December 2009, Nigeria like many other countries had the opportunity to tackle its climate change issues at Copenhagen, the capital and largest city in Denmark. However, climate change cannot be successfully addressed by any individual country it requires therefore substantial action and continuous efforts. These actions include nations’ investing in programmes and projects aimed at reducing the emissions of greenhouse gases (GHG’s), and contribute to adapting to climatic changes. Nigeria is committing itself to facing the challenges that climate change presents within its borders and is acting rapidly to ensure that the Copenhagen deal is the best for Nigeria and Africa. This is being achieved by continuing to form partnerships globally and regionally, and by promoting the development of alternative energy sources internally. Nigeria believes that climate change poses important threats to Africa, while equally offering some unique opportunities to generate new revenues and build more diverse and resilient economies. For example, a policy like the Clean Development Mechanism (CDM) if designed to have an African focus could generate investments worth billions of US dollars every year. Causes of climate change The climatologists have found evidence to suggest that some factors are primarily responsible for most of the past episode of climate change on the earth and which needs to be addressed urgently. These factors include: (a. ) Radioactive forcing A process which alters the energy balances of the earth-atmosphere system is known as radioactive forcing mechanism (Shine et al, 2010). These may include degree of difference in the earth’s orbit around the sun, solar radiation, volcanic activity and atmospheric composition. (b. ) Non- radioactive forcing Any change in the climate must involve some form of energy redistribution within the global climate system. Yet there are forcing agents who do not affect directly the energy budget of the atmosphere (the balance between incoming solar radiation and outgoing terrestrial radiation). These are considered to be non- radioactive mechanism of global climate change. Such agents usually operate over vast time scales [107 to 109] and mainly include those which affect the climate through their influence over the geometry of the earth’s surface, such as location and size of mountain ranges and position of the ocean basins. (c. ) External forcing This section discusses some of the various external forcing mechanisms operating over time a scale of 10 years to 109 years. (i. ) Galactic variations The orbit of the solar system about the centre of the galaxy has been considered as a possible external climate forcing mechanism (Hugget, 1991). During the course of a galactic years [now estimates at 303million years] variation in the inter stellar medium (William, Isaac and Shoo, 1975) may also suggest that variation in gravitation torque induced by galaxy’s near neighbors, the small and large megellanic clouds, could have far reaching consequences for the earth’s climate. ii. ) Orogeny It is the name given to a tectonic process of mountain building and continental uplift. Such mechanisms operate over tens or even hundreds of millions of years. The earth’s outer surface, a layer known as the lithosphere {made up of the crust and the upper section of the mantle}, is broken up into 12 different plates which are co nstantly adjusting their positions relatively to each other and such movements are driven by the internal convective dynamics within the earth mantle. When plates collide, one may either be subdued beneath another or both are pushed continually together, forcing upwards any continental land masses, to form long mountain range. (iii. ) Epeirogeny It is a term that describes changes in the global disposition of land masses and like organic process, this changes are driven by internal plate tectonic movements. Continents move around the globe at a rate of several centimeters per year owning to the slowness of the internal dynamics of the earth. However, over tens or hundreds of millions of years, both the size and position of land area can change appreciably. iv. ) Volcanic activity Explosive eruption can inject large quantities of dust and gaseous materials [such as sulphur dioxide] into the upper atmosphere [the stratosphere], where sulphur is rapidly converted into sulphuric acid aerosols. Whereas volcanic pollution of the lower atmosphere is removed within days by the effects of rainfall and gravity, stratospheric pollution may re main there for several years, gradually spreading to cover much of the globe. A volcanic activity has the ability to affect global climate on a longer time scale. Over periods of millions or even tens of millions of years, increased volcanic activity can emit enormous volumes of green house gases, with the potential of substantial global warming (Pickering ; Owen, 2004; Rampino ; Volk, 2006]. However, the global cooling effect of sulphur dioxide emissions will act to counter the green house warming and the resultant climate change remains uncertain. (v. ) Ocean circulation It was identified that the oceans store an immense amount of heat energy, and consequently play a crucial role in the regulation of the global climatic system. In order to explain the observed hemispheric syncronity of glaciations, despite periods of directly opposed orbital forcing in the two hemispheres, many researchers have looked to the oceans. Although, in this sense, changes in oceans circulation has traditionally been viewed as internal forcing mechanisms in its own right. Economic implications of Climate change The estimates of economic impact on climate change are typically based on ‘damage function’. The estimates cover a variety of climate impacts that are usually grouped as ‘market impact’ and ‘non-market impact’. Market impacts include effects on climate sensitive sectors such as agriculture, forestry, fisheries and tourism; damage to coastal areas from sea level rises; changes in energy expenditure (for heating and cooling) and changes in water resources. The non-market impacts cover the effects of climate change on health; leisure activities, ecosystem and human settlements. The economic implications of climate change in Nigeria are discussed below: (a. ) Agriculture, Forestry and Fisheries McCarl (2007) reported that 70% of the workforce in Nigeria relies on rain-fed agriculture for their livelihood. He noted that agriculture is affected by climate change as a result of reduction in quantity and quality of yields; changes in crop practices through changes in water use (irrigation) and cost of agricultural inputs such as herbicides, insecticides and fertilizers; Environmental effects particularly due to frequency and intensity of soil damage leading to nitrogen leaching, soil erosion and reduction of crop diversity. Other effects are adaptation of organisms and plants to flood, salinity and temperature, collapse of flourishing profitable investment and a sharp downturn of national economy. According to Okali (2004), droughts usually increase in occurrence, having a huge impact, especially in the dry North as a result of desertification. (b. ) Tourism and Leisure activities The forest is the abode for wildlife. If the forests disappear, the wildlife goes with it. Sites of tourist attractions in Nigeria are vulnerable to climate change. The waterfalls, the lakes, the river basins, the ocean views, the beaches, the ranches etc. may be nowhere to be found. Due to this, the huge investment of both the government and the private sector in tourism and leisure activities may be eroded. Loss of revenue and the lay-off of those employed in this sector of the economy will impose financial strain on the economy. (c. ) Coastal areas and Sea level rises Not less than seven out of the thirty-six states in Nigeria is in the coastal area. Nigeria’s coastal zone is richly blessed with various natural resources such as crude oil and fish, which are presently being exploited for economic gains. The global climate change and the concomitant sea level rises will have adverse effects on the coastal zone. Nigeria could lose over 18,000 square kilometers of the coastal land and the natural resources contained therein as well as experience disruption in socio-economic activities. This will also increase the salinity of the fresh water, thereby affecting aquatic life. Loss of revenue and GDP and the attendant impact of rendering the inhabitants of the coastal areas, who are pre-dominantly fishermen, unemployed. (d. ) Human settlement Desert encroachment is becoming a threat from the northern part of Nigeria due to desertification. The inadequate trees in some parts of the North have resulted in unfavourable living condition and displacement of many human settlements. The rising sea level and gully erosion are equally claiming several kilometers in the coastal areas especially the southern part of the country. Valuable resources and infrastructures of the country are found in this area and if the sea claims these places, the economy of the nation will be affected. The Tsunami incidence in Japan on 12th March 2011, which claimed thousands of lives and properties worth billions of dollars, is a warning signal. It is also very important that Nigeria lend a clue from the bitter experience of Japan. (e. ) Health Increased temperature in the various regions could result in high incidence of malaria and other diseases that affect humans due to high temperature. The possibility of water-borne diseases as a result of the sea level rises cannot be ruled out. The implication of this is that there would be an increase in the cost of maintaining a healthy nation. It is note-worthy that this might frustrate the recent effort by government and relevant international health agencies to halt the scourge of malaria and other diseases. f) Industry and manufacturing The effect of global warming on the climate-vulnerable sectors of the economy (agriculture and the coastal resources) that provide input for the industry and manufacturing is another area of concern. The infant industries and the small and medium scale enterprises could be threatened. This is because only the big ones will be able to pay the hig h prices of manufacturing inputs. The GDP will be adversely affected by the inability of the small businesses to operate since they act as catalysts for economic growth and development. g) Financial services sector This sector serves as the intermediary between the deficit sector and the surplus sector of the economy. Owing to the ability of the big companies who are mostly quoted on the stock exchange to weather the storm of the likely downturn, they will force the market into an initial boom, which may not last, only to be followed, subsequent to its effect on the climate sensitive sectors, by a devastating and catastrophic burst because no entity or segment of the economy would be left out. Hence, there is the tendency of experiencing what could be best described as ‘climate induced inflation’. Odjugbo (2010) noted that climate has a significant effect on the country’s economy. Climate Change Financing Providing financial support to developing countries like Nigeria to help mitigate the effects of climate change and adapt to its impacts will be crucial to achieving agreement at the United Nations Framework Convention on Climate Change (UNFCCC) in Copenhagen in December 2009. This makes financing one of the most critical issues in international climate change negotiations. The major issues that need funding in order to address climate change properly are observed to include mitigation, adaptation, technology transfer and capacity building of institutions and personnel. Funding must benefit from domestic and international sources. The major sources of domestic resources to finance development in Nigeria have been domestic savings which are channeled into development through various formal and informal avenues, taxation, domestic borrowing (including borrowing from the banking system and private sector), bond financing, external reserves, surpluses of public enterprises, and very importantly, the oil sector. Domestic resources should ideally constitute the major source of financing development and should be the first port of call. It is a better long term option in the achievement of any longer term development goals. On the other hand, external resources should be seen as providing supplementary finance to domestic resources. External finance has proved difficult to predict and sustain. Indeed, some forms of external finance, for example, ODA, portfolio investment and bank lending that may appear to be important have tended to be highly volatile and hence potentially risky and problematic for development. Also, there has been skepticism about aid effectiveness such that ‘despite the declared huge disbursement by donors, there is not much on the ground to show for it’ (NPC, 2008). If domestic resources must provide a robust basis for sustainable progress in meeting the climate change challenges, then policies need to be implemented which would increase domestic saving and raise the revenue (tax and nontax) GDP ratio significantly beyond current levels. As at June 30 2009 there remain few well known sources of domestic financing for climate change adaptation/mitigation, renewable/green energy projects in Nigeria. Whilst we suspect that there are some in-house sources of finance being discussed within various institutions, these are not yet publicly known and are at their primary stage of development where they do exist. With respect to mitigation, a lot of resources are needed particularly in acquiring technology. Nigeria supports the initiative for the establishment of a Multilateral Technology Acquisition Fund to buy Intellectual property Rights (IPR) which is a major constraint to technology transfer. Most of the resources for mitigation have moved to the developed countries over the years. Nigeria supports therefore the review of this anomaly for equitable distribution. Mitigation resources should also come to developing countries so that their developmental efforts do not finally result in injecting more GHG into the atmosphere. Nigeria should team up with other African countries and the G77 to seek for greater access to Adaptation Funds. Many of the potential adaptation projects which are urgent require considerable capital investment that the Fund can best provide. The significance of this is that this source of funding is reliable and predictable. Demand notices requiring for settling of counterpart Funds should be sent early enough to facilitate the processing of payment. Nigeria should team up with other countries to ask for the change in the present arrangement in which developed countries alone produce the CEOs of the GEF. In the future, the position should be alternately occupied by candidates from the developed and developing countries to reflect the global character of this institution. Constraints to financing climate change in Nigeria Some of the expected major sources of financing climate change in Nigeria encounter a lot of challenges/constraints. Some of these are as follows: – * The precarious dependence of government revenue on the oil sector. Thus, any shortfalls in oil revenue will adversely affect climate change mitigation/adaptation. Projected government financing of climate change may partly depend on economic growth performance and may not be realized if the growth performance is weak. The need to lay a solid foundation for sustainable growth, rely more on domestic sources of financing especially noninflationary sources, and diversify the revenue base away from oil to non oil tax sources. In addition to the above, the following issues have been identified as current constraints that are hampering progress in efforts to tackle climate change activities in the country: * Lack of a regulatory framework that should guide any institutional governance and the activities of climate change have discouraged local lending to renewable energy projects, foreign direct investment (FDI), and significant take-off of the CDM market. The lack of an established and working climate change institution has encumbered the drawing up of a broad-based and robust regulatory framework that can, with the assistance of consultants and advisers in this area, ensure world-class practices being put in place in Nigeria as part of the structure. * Absence of definite budgets within the various government ministries, departments, and agencies to incorporate climate change activities in national development within the broader Nigerian society. Lack of moral persuasion by the federal government on private enterprise to focus on driving climate change mitigation strategies and business development. * Lack of general educational campaign to advise financial institutions, corporate bodies and civil society on the merits of investing in Green Energy and the CDM m arket has greatly hampered the take off of all related projects. Lack of knowledge by financial institutions on investment within the new ‘green’ economy in all its ramifications due to lack of capacity build-up in this area. * Lack of knowledge among most local financial institutions on how to advise clients to access CDM funds for their projects which leads to less revenue being generated from carbon sequestration projects. CONCLUSION Nigeria cannot afford to be left outing the fringes of achieving environmental sustainability, alleviating poverty and reducing extreme hunger in line with the millennium development goals. The Government of Nigeria must as a matter of expediency treat the problems associated with climate change on the economy with urgency by adhering to international environmental treaties and embarking on massive and aggressive sensitization of the citizens on the problems associated with global warming and the steps that can be taken to address the concern. The government needs to sensitize Nigerians on the need to be more environmental friendly, evolve a change in consumer behaviour and ensure effective utilization of financial resources to mitigate the effects of climate change. REFERENCE Odjugo, P. A. O. (2010). Regional evidence of climate change in Nigeria. Journal of Geography and Regional Planning, 3(6), pp. 142-150 United Nations Organization. (2010). Climate Change Conference in Cancun leads to agreements Sass. R. L. , (2009), Frequently Asked Questions: Climate Change, James A. Baker III Institute for Public Policy, Rice University United States Central Intelligence Agency World Fact Book (2011), https://www. cia. gov/library/publications/the-world-factbook/geos/ni. html United States Climate Science Program (2008), Trends in Emissions of Ozone Depleting Substances, Ozone Layer Recovery and Implications for Ultra Violet Radiation Exposure Synthesis and Assessment Product 2. 4 How to cite Financing Climate Change for Economic Development (a Case Study of Nigeria), Free Case study samples