Why Are Current Corporate Efforts To Save Climate Change Not Enough?

Climate change, one of the biggest topics of discussion for the modern world. One of the most common talking points for various scientists, politicians, doctors and executives in the business world, the issue of climate change is indeed one that has a major global impact. With regards to the business world, climate change, of course, has a major impact across various industries as well. With regards to this editorial, I will be focusing in brief on the impact of climate change in 3 key areas of business.

The Energy Industry:

Now I would be tempted to call this the Oil & Gas industry but that would be counterproductive to the editorial as a whole. Public opinion has consistently been shifting in favour of renewables and nuclear energy and has resulted in business booming for such companies in various countries across the world!

Consumer Goods and Services:

Seeing as climate change of course impacts Consumers and their opinions as well, climate change will of course affect every single industry that sells its products to consumers! Companies that sell products (big and small) have been marketing themselves and being environmentally friendly to generate consumer goodwill and to gain themselves positive press hence boosting their profits. Adding on, government regulations have also mandated that companies adhere to a certain level of environmental laws when making products or providing their services

Producer Goods:

Producer goods and services (aka goods and services that are to be used by other businesses) are also impacted by climate change regulation. Adding on, companies wanting to project a positive image to the media would also like to buy environmentally friendly products to showcase that they care for the environment. Adding on, certain products that are environmentally friendly also have the advantage of being cheaper and more efficient (e.g: Wind Turbines)

All in all, climate change has affected the business world in a way very few events have, and it’s effects have touched over every single industry on the planet. Any business that wants to maintain a good public image and continue to make a profit (as well as comply with the law) has to take climate change into account, and denying this effect won’t do anyone good.