The climate has changed several times throughout Earth’s history. The current period of warming, however, is occurring more rapidly than previous events. Climate scientists believe that this is largely due to human activities. The United Nations Environment Program estimates that more than 6,000 companies from 133 different countries will take action against climate change. Climate business opportunities are currently at $2.1 trillion, especially now that many companies are focusing on improving sustainability worldwide.
Progress In Action
Recently, Democrats in the U.S. House of Representatives introduced a “Green New Deal,” which aims to address climate change and economic inequality at a greater scale. Although denied, the 2020 presidential candidates have vowed to make climate change a priority in their campaigns. But not only is the government taking action to form new policies and embrace alternative solutions, businesses are also moving forward with creating new products and building sustainability around the world. Research suggests that companies will spend a total of $1 trillion over the next five years.
Climate change poses long-term risks for businesses. For example, oil supply may fall short by 2020 and water supply may also shorten by 40%. But while the risk is great, businesses are met with opportunities to come up with practical solutions. A range of companies, ranging from food to clothing, are quickly responding to fight back climate change. Gap Inc. announced that it will make efforts to reduce its GHG emissions globally across its facilities by 50% by 2020. Kellogg Company also committed to reducing emissions intensity per ton of food produced by 2020. The company has reportedly reduced its scope 1 and 2 emissions from manufacturing by 12%. Gap and Kellogg are examples of companies taking active steps to fight back climate change and help build better sustainability globally.
Key Facts
- U.S. average temperature has increased to 1.9 degrees Fahrenheit since 1895.
- The last three to five decades have shown that U.S. downpours as well as heat waves have increased more frequently.
- Since the 1980s, hurricanes have become more intense, frequent, and lasting.
- Ever since record keeping began in 1880, the global sea level has risen about 8 inches.
- Oceans have become more acidic as a result of carbon dioxide being emitted to the atmosphere annually.
- Earth’s average surface temperature increased about 1.62 degrees Fahrenheit since the 19th century.
- Eight of the 12 months in the year 2016 was the warmest year on record.
- Between 1993 and 2016, data from NASA’s Gravity Recovery and Climate Experiment reveals that Greenland lost an average of 286 billion tons of ice each year. Antarctica lost about 127 billion tons of ice.
- Glaciers from the Alps, Himalayas, Andes, Rockies, Alaska, and Africa are retreating each year.
Investments in Climate Change
The Global Commission on Adaptation recently reported that major countries around the world will need to take drastic steps to combat climate change. Former UN Secretary-General Ban Ki-Moon, World Bank Chief Executive Kristalina Georgieva, and Microsoft Co-Founder Bill Gates have all taken part in the movement, claiming that richer countries will need to invest in more resources.
You can read the full article here: https://bbc.in/2IOGK5R
The report makes out five things that countries will need to invest in:
- Warning Systems: Islands and coastal communities that are vulnerable to extreme weathers can benefit from early warning systems. This can potentially save millions of lives.
- Infrastructure: Cities across major countries can build stronger infrastructure to meet the needs for combating climate change.
- Improving Dry-Land Agriculture: Farmers need better tools and more innovative solutions to help their livelihoods.
- Restoring and Protecting Mangroves: Mangrove forests protect about 18 million people living in vulnerable communities from coastal flooding.
- Water: Making sure water supplies are protected and sustainable will be integral for protecting climate change.
Each investment combined will have a dividend value that’s near $7.1 trillion. As a result of this initiative, the world will avoid future losses, generate economic gains, and deliver social and environmental benefits.
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