Climate Change and its Affects on Business
Since the 19th century, the average temperature on Earth has risen 1.62 degrees Fahrenheit. While that doesn’t seem like much to humans, it has a devastating effect on the planet we inhabit. This not only affects the actual temperatures, but will result in a rise in sea level, a decrease of arctic ice, melting glaciers, and more frequent and extreme weather changes. Some of these things we’ve witnessed in this year alone- wildfires on the West coast, unpredictable storms on the east coast, temperature highs, droughts, and increased flooding from the norm. People, the economy, and businesses will all have to adapt to the changes in our world. How will this affect the future of business?
If you were to ask a multitude of people about the causes of global warming, most people would point their fingers at big businesses and their practices. As of today, it seems many businesses have made little effort to change practices in concern to climate change. To see change businesses will need to spend some time and money figuring out how they can improve their carbon footprints and find alternative energy sources. Although this seems daunting and expensive, it could also be looked at as an opportunity to increase productivity by becoming more energy-efficient, reduce costs, and perhaps it could even promote innovation
What will happen in the future if people and businesses don’t begin to take climate change more seriously? As previously stated that as climate change gets more serious, we see more serious changes in weather patterns. This can change businesses because insurances may begin charging higher rates as we see increased flooding, fires, storms, droughts. Certain industries will no longer be needed if we experience a dauntingly long summer and mild winters. Why would anyone need to buy long socks and winter hats? Increases in the price for resources will occur as land and freshwater will become more scarce.
Climate change will affect every single person in their lifetime. It will affect our stores, prices, businesses, and the economy. I believe we all should take an interest and care about the world we live in.
How can businesses take steps to decrease our changing climate?
What will the future look like if we continue to live on how we currently are?
What are some opportunities for businesses as they change their habits to benefit our future?
These are a few questions I hope to address in further research. As people and businesses are opposed to change, I hope to research how it may benefit everyone. The future may be shorter than we all realize if we don’t implement new business practices as soon as possible, and look after the world we live in.
