The Climate Conflict: Arjuna's Questions and Krishna's Answers

Background

Imagine we are on the climate change battlefield, particularly in Asia, where the stakes are highest. As the Asian Development Bank (ADB) President has stated, "The battle against climate change will be won or lost in Asia." In this context, Arjuna, representing policymakers and financial institutions, hesitates to confront the overwhelming crisis and seeks Krishna's guidance on navigating this complex and urgent situation.

??????????????????? ?? ????? ?????? ?? ?????????????????? ?? ???????????????????(Bhagavad Gita 2.47)?"You have the right to perform your duty, but not to the fruits of your actions. Do not let the fruit be your motive, or your attachment be to inaction."?

Arjuna: Krishna, I am overwhelmed by the magnitude of the climate crisis. The political discourse is shifting, and actions are slowing down. How can we navigate this complex situation?

Krishna:?You have the right to perform your duty, but not to the fruits of your actions. Do not let the fruit be your motive, or your attachment be to inaction.?Arjuna, just as you faced your dilemma on the battlefield, today's leaders face their own. The key is to understand and embrace your duty. Policymakers and financial institutions must recognize their responsibility to future generations and act accordingly.

??????? ???? ??????? ????? ????????? ??????? ???????????????? ??? ?????? ?????? ??? ????????(Bhagavad Gita 2.48)?"Be steadfast in yoga, O Arjuna, and abandon attachment to success and failure. Such equanimity is called yoga."?

Arjuna: But Krishna, the interests of various stakeholders often conflict. How can we make decisions that benefit the planet without causing immediate economic harm?

Krishna:?Be steadfast in yoga, O Arjuna, and abandon attachment to success and failure. Such equanimity is called yoga.?Focus on?dharma?(duty) and righteous action. Make bold decisions that prioritize long-term environmental sustainability over short-term economic gains. True leadership involves making difficult choices for the greater good.

??????????? ???? ?????? ???? ?????? ?????? ???????????? ?????????? ????????(Bhagavad Gita 3.19)?"Therefore, without being attached to the results of activities, one should act as a matter of duty, for by working without attachment one attains the Supreme."?

Arjuna: What if our efforts do not yield immediate results? How can we stay motivated?

Krishna: Without being attached to the results of activities, one should act as a matter of duty, for by working without attachment one attains the Supreme.?Act without attachment to the outcomes. Consistent and persistent efforts are more important than immediate results. Just as you must fight without concern for victory or defeat, policymakers should pursue ambitious climate goals without being deterred by potential setbacks.

???????? ?????? ???????? ??????? ?????????? ???? ??????????????? ??????????????????? (Bhagavad Gita 3.10), meaning "In the beginning, the Creator, having created mankind together with sacrifices, said: 'By this shall you prosper; let this be the milker of your desires."

Arjuna: Can you provide examples of the success of such an approach?

Krishna: In the beginning, the Creator, having created mankind together with sacrifices, said: By this shall you prosper; let this be the milker of your desires. Certainly. Consider the?Montreal Protocol (1987), which successfully phased out substances responsible for ozone depletion. Another example is the?Paris Agreement (2015), which brought nations together to combat climate change and limit global warming. These agreements show that collective action and commitment can lead to significant progress.

Arjuna: What about the current state of climate change? How urgent is the situation?

??????????????????? ????????????????? ?????? ????????? ???????????? ?????????? (Bhagavad Gita 6.5), meaning "One must elevate, not degrade, oneself by one's own mind. The mind is the friend of the conditioned soul, and his enemy as well."

Krishna: One must elevate, not degrade, oneself by one's own mind. The mind is the friend of the conditioned soul, and his enemy as well. The urgency is immense. Global temperatures have risen about 1.2 degrees Celsius since the late 19th century, and sea levels have risen about 8 inches in the last century. Annual global greenhouse gas emissions have reached approximately 50 billion metric tons of CO? equivalent. These statistics underscore the critical need for immediate and sustained action, emphasizing the gravity of the situation.

???????????????????? ?????? ???? ????? ??? ????? ???????????? ????????????? ?? ??????(Bhagavad Gita 18.66)?"Abandon all varieties of religion and just surrender unto Me. I shall deliver you from all sinful reactions. Do not fear."?

Arjuna: The war will be prolonged and securing financing will be crucial. How will Multilateral Development Banks (MDBs) step in to support?

Krishna: Abandon all varieties of religion and just surrender unto Me. I shall deliver you from all sinful reactions. Do not fear. Just as coalitions of kingdoms united their resources and strategies to fight a common enemy, multilateral banks must collaborate to finance the battle against climate change. "Multilateral Development Banks (MDBs) like the World Bank and Asian Development Bank pool resources and expertise to support climate projects in member countries. They bridge the gap between private investors and green projects by providing financial support and technical assistance, especially where capital is limited. By leveraging private finance and philanthropies, MDBs can help close the financing gap for climate action and energy transition.

??? ??? ????? ????????? ??? ??? ?????? ???, ? ??? ??????? ?????? ????? ??? ?????????" II (Bhagavad Gita 3.21) "Whatever action is performed by a great man, common men follow. And whatever standards he sets by exemplary acts, all the world pursues."

Arjuna: How can financial institutions contribute to this battle?

Krishna: Whatever action is performed by a great man, common men follow. And whatever standards he sets by exemplary acts, all the world pursues. Financial institutions, by setting an example through their actions, can lead the way in fostering a sustainable future and must play a crucial role in this battle. They should prioritize sustainable investments and support green technologies. Embrace a long-term vision and invest in projects that offer long-term environmental benefits, even if they do not yield immediate financial returns. Their ethical responsibility is paramount—divest from fossil fuels and invest in renewable energy sources.

??????????????????? ??? ????? ?????? ??????? ????????? ?????? ????????? ??????? ?????? ???????? ????????????? ?? ????????????(Bhagavad Gita 11.33)" Therefore you rise up, (and) gain fame; and defeating the enemies, enjoy a prosperous kingdom. "These have been killed verily by Me even earlier; be you merely an instrument, O Savyasacin (Arjuna)."?

Arjuna: What different instruments can be deployed, including insurance and capital markets?

Krishna:?You rise up, (and) gain fame; and defeating the enemies, enjoy a prosperous kingdom. These have been killed verily by Me even earlier; be you merely an instrument, O Savyasacin (Arjuna).?Instruments such as green, sustainability-linked, and transition bonds are central to bridging the financial gap and accelerating the green transition. Insurance-related climate transition plans and guarantees can also be crucial in managing risks and ensuring financial stability during the transition. Just as a warrior uses different weapons for different situations, governments and financial institutions must strategically deploy these instruments to maximize their impact.

???????? ??? ?????? ???????? ??????? ??? ??????? ???????? ???? ???????????????(Bhagavad Gita 2.38) "Treating alike pleasure and pain, gain and loss, victory and defeat, engage in battle for the sake of duty; thus you will not incur sin."

Arjuna: Ultimately, any war aims to alleviate people's suffering. How can we create minimum adverse impact on women and businesses, and ensure a just transition?

Krishna: Treating alike pleasure and pain, gain and loss, victory and defeat, engage in battle for the sake of duty; thus you will not incur sin. A just transition ensures that the shift to a sustainable, net-zero future happens in a fair and inclusive way. It involves creating decent work opportunities, supporting vulnerable communities, and ensuring that no one is left behind. We must empower women disproportionately affected by climate change and include them in decision-making.

?????? ???????????? ????????? ??? ???????? ???? ??? ??????? ? ???????? ???????????(Bhagavad Gita 5.18)?"The humble sage, by virtue of true knowledge, sees with equal vision a learned and gentle brahmana, a cow, an elephant, a dog, and a dog-eater."?

Arjuna: Finally, what do we need to preach regarding risk literacy?

Krishna:?The humble sage, by virtue of true knowledge, sees with equal vision a learned and gentle brahmana, a cow, an elephant, a dog, and a dog-eater.?Risk literacy involves understanding climate change's processes, causes, and effects. It is crucial for assessing evidence, discussing options to manage risks, and taking well-informed actions. Promoting climate literacy can accelerate behavioral changes and climate-related planning.

??????????? ????(Bhagavad Gita 12.4)?"Engaged in the welfare of all beings."

Arjuna: Krishna, how important is integrating environmental, social, and governance (ESG) principles into our efforts?

Krishna:???????????? ????(Bhagavad Gita 12.4)?"Engaged in the welfare of all beings."?ESG principles are essential for ensuring that our actions are sustainable and ethical. By integrating ESG factors, we can build trust with stakeholders, enhance operational efficiency, and provide long-term stability. This holistic approach aligns with the Gita's emphasis on selfless action and the welfare of all beings.

Conclusion

"???????? ??????? ??????? ??????????" (Bhagavad Gita 2.37) "Arise, O son of Kunti, and be determined to fight."

Krishna: "Arise, O son of Kunti, and be determined to fight," urging everyone to rise and take decisive steps towards addressing climate change and managing risks effectively.

Convinced by Krishna's counsel, Arjuna feels a renewed sense of purpose and determination. He understands the importance of his duty and the need for righteous action. With a clear vision and unwavering commitment, Arjuna is ready to pick up his arms and lead the battle for climate action. He knows that the path ahead will be challenging, but with the guidance of Krishna and the collective efforts of all stakeholders, victory is within reach.