Climate change
Climate change has changed the way of doing the business according to climate changes around the World. As we discuss about the rising greenhouse effect and temperature or continuously increasing consumption of fossil fuels due to which carbon gas emission is affecting climate badly for instance in Costa Rica the level of humidity reached 90 percent which causes many health diseases like heat strokes and heart diseases. Due to which people are migrating in a large number to the places where climate change impact is less yet. This climate effect making a great loss of consumers and laborers for companies in decreasing revenues in business prospective. Due to global warming the period of seasonal weathers is fluctuating in every interval which is affecting some businesses by declining short time expired products. As a result, their products are not getting sold and affecting the revenue (Global Edge, 2018).
Introduction
In order to understand climate change we need to know what climate exactly is. Climate serves a major role to mankind. It is important for the nature as well as human beings. Climate is basically the average weather conditions of a particular region, place or area. We know that there is one atmosphere on earth but the weather and climate is different in every region of world. Some regions have moderate climate some have cold climate and other regions have hot climate. For instance, the northern region of Canada has much
colder climate than other parts of Canada. Climate of a place can be described through its different characteristics like temperature, average speed of winds, precipitation, etcetera. All these factors directly or indirectly impact the weather or climate of a region. Trace amounts of changes to these factors can have a domino effect throughout the globe with unpredictable climatic conditions, posing threat to agriculture, businesses and people.
Climate change is a diverse phenomenon which is not instant but changes over large period of time owing to various conditions, both natural and manmade. However manmade changes have been the core reason for climate change for past couple of centuries starting specifically with the industrial revolution in 1800’s. Records from past few years show that there has been vast difference in the climate. The temperature of earth has increased by approximately 1-degree Fahrenheit in last hundred years. A recent NASA study found that June 2018 has been the third warmest June in 138-year recorded history. The change seems to be small in figure but as proven by various studies, even a slight change in temperature conditions can wreak havoc on global environment have wide ranging implications. This rise in temperature has caused a situation called “Global Warming”.
Global warming, another name for climate change, deals with changes in temperature conditions globally over long period of time, preferably over centuries either because of natural conditions or human activities. Human activities have resulted in exploitation of natural resources to meet their energy needs which have contributed to emissions of large amounts of environment warming gases commonly known as greenhouse gases. Such gases tend to entrap themselves in the atmosphere and have a cascading warming effect throughout the world resulting in average rise in temperature as has been proven by different studies and most notably the fifth assessment report by intergovernmental panel on climate change. IPCC in its findings clearly mentioned that human activities have been the major cause in shifting climate conditions globally ever since the 19th century when industrial revolution began. Green house gases such as carbon dioxide, methane etc. released as a result of perpetual exploitation of natural resources to meet ever growing demand of humans have caused the temperature rise globally and affected environmental conditions to the point where agriculture, regional weather have been affected. The legitimacy of this study has been supported, proven and confirmed by various scientific organizations in industrialized countries. Global warming is the harsh reality of 21st century and is already starting to show repercussions in the form of changing precipitation in various regions, increase in desert areas in the subtropics, commonly known as desertification which affects arable land and rise in sea levels. Such increase in water levels pose huge problems for low lying areas which are then prone to flooding and loss of land to the sea. Global climate change has resulted in melting glaciers in Antarctica and arctic region, with more intensity in the arctic. Such is the effects of warming in northernmost part of the world that glaciers are melting at an alarming rate, resulting in increase in sea levels.
Global warming seems to have dire consequences for global populace. The effects range in intensity from region to region. One of the major problems that could turn into a serious reality is threat to food security. Because of changes in precipitation, agriculture could suffer as a direct result of such changes. Rising sea levels could contribute to abandonment of areas due to flooding as a result of rise in sea levels. Variance in weather conditions could also result in extreme weather conditions depending on region to region. Events such as drought, extreme heat waves, heavy snowfall and perpetual rainfall could affect livelihoods of tens of millions, if not billions, of people. It has been proven that temperature has risen by approximately 2-degree C between industrial revolution and 21st century. The rise may seem minor in terms of numbers but becomes of formidable number and force when considering world. Global warming has shown concentration mostly in northern American and European region since most of the studies have been conducted here. Earth comprises of 71% water area and 29% land area. Therefore, it is evident that rise in sea levels can cause loss of land to an already less area that covers the earth. Another major impact of climate change is the extinction of species. Past century has resulted in loss of various plant and animal species. The loss of species affects the food chain in a negative manner and therefore has a chain affect affecting all factors of the environment.
Factors
There are factors, both man-made and natural, which affect climate change. Climate change is a harsh reality but has proponents of both sides of the debate. A section of society believes that climate change is natural, while others believe it is man-made and requires mitigation in order to tackle its rise. Both factors have been discussed below.
One of major natural factors that affects our environment is volcanic eruptions. There are certain regions in the world which have high volcanic activity. Volcanic eruptions result in release of large amounts of atmosphere warming gases. These gases remain suspended in air for large periods of time and absorb any heat leaving the earth. The working of greenhouse gases is quite simple. The energy received by earth from the sun is reflected back and leaves the atmosphere. Greenhouse gases have molecules which which have the ability to trap these gases. Such gases when trapped by these molecules in the atmosphere cause a warming effect causing changes in regional temperature and precipitation.
Manmade factors have been at the helm of this controversy. A large number of scientific studies and explorations in remote corners of the world tend to point towards the fact that climate change is past few centuries has been caused largely by incessant exploitation by humans to meet demands of 7 billion people walking the earth. The population is ever booming. In order to meet the demands, fossil fuels are being burned at an alarming rate. Burning of natural resources such as oil and coal for energy purposes cause carbon emitted to reach with oxygen in the air to form carbon dioxide (co2). Clearing of forest land to convert them to farmlands has also contributed towards increased levels of GHG’s in the air. Forests act as a balancer by absorbing excess carbon dioxide from the atmosphere and convert them to oxygen. However due to increased demand for food to feed billions around the world, forests are being cleared to pave way for agricultural lands. The following deforestation results in loss of tree cover and hence reduced absorption of co2. Industrialization is another factor that has pushed the world into this environmental chaos. Mining of metals such as copper, aluminum etc. entail massive amounts of emissions and have health implications as well. Chemical analysis has shown that concentration of heat absorbing gases has been the highest seen in thousands of years including the carbon dioxide trapped in ice sheets. Melting of glaciers causes this CO2 trapped for hundreds of years to be released causing a global situation where different regions of the world are affected by different environmental conditions ranging from heavy rainfall, dry conditions, hot conditions or extreme cold. The consequences that this will have on earth and us humans as a species as a whole has been discussed below.
As per ongoing trends, earth is poised to become warmer, although with varied intensity. Some regions may experience higher temperature as compared to others. An increase in GHG’s will melt glaciers which have been frozen for thousands of years. This will have a dual effect in the form of increased sea levels and emission of trapped carbon dioxide within them. Warmer means increase in evaporation and hence increase in rainfall. However, this will vary from region to region with some areas experiencing drought. It will also cause changes for the plant kingdom. Some plant regions may react favorably to these changes while other established areas where they grow best may be affected in a negative manner. Sun is the main source of energy for earth and all the weather patterns and shifts associated with them are totally dependent on energy received from the sun. The energy received from the sun has remained same of increased slightly since 1750 and therefore it is the greenhouse gases that have contributed towards changes in weather patterns. Therefore, it is evident that carbon dioxide has been at the helm of all problems and its ever-increasing emission through human activities such as burning of fossil fuels, cars, clearance of forests, which would otherwise absorb and release it as oxygen, mining of metals and oil has resulted in a chaotic environment where every individual stand to lose. Change in climatic conditions affects businesses and their profitability. Thus, it is the responsibility of businesses to streamline their operations to ensure minimal emissions of these gases and plan their operations for a sustainable environment.
Unpredictable weather conditions are beginning to turn heads for businesses as shift in weather patterns continue to affect their operations. Carbon emissions are majorly associated with industries which release huge amounts of gases into the atmosphere owing to production of materials to meet global demand and sustain their profitability. Owing to wide scale industrialization and the ambition of developing countries to increase GDPs, damage to environment is ignored for the sake of increased profits, generation of jobs and improving livelihood of people. Global corporates often tend to ignore the repercussions their operations have on the environment. However, with changing climate conditions, businesses are looking at options to ensure sustainability for their operations owing to increased regulations imposed by governments as a result of pressures from various activists and environmental organizations. Heavy rains or flooding can directly impact the transportation network affecting flow of goods from one point to another. Such closure can prove to be detrimental for commerce as constant supply of goods is essential to maintaining a successful economy. Extreme weather conditions have the ability to impact infrastructure such as buildings, production warehouses, data back-up centers. Businesses that are located in regions which experience extreme weather events such as hurricanes, earthquakes etc. tend to understand how such events affect their profitability. A business affected by these scenarios lose massive amounts of investments due to halt in business operations. Climate change consolidates such events and global warming causes these events to strike with increased intensity. A relevant example of how climate change can affect global corporates can be seen in the article given by a Harvard business graduate on coca cola. Coca cola relies on fresh water to sustain its business and its sustainable business of refilling the aquafers doesn’t hold much promise as climate change tends to affect fresh water resources as well. Even slight changes in climate conditions have a domino effect on freshwater resources. Dearth in freshwater can cause huge problems for a global corporate like Coca-Cola. Companies in developing countries are particularly vulnerable as they deal with a variety of issues to ensure profitability simultaneously ensuring no damage to the environment. Events such as hurricanes and increased earthquakes are already affecting insurance premiums making people pay more on their plans. a complicated and interconnected global supply chain has only added to the woes connected to climate change. Events due to climate change have the ability to interfere with regular business operations, one example of which can be recently seen in japan where an earthquake caused them to halt many production plants. Toyota was gravely affected as its plant that supplied parts to almost the entire world was forced to suspend production due to consequences from the earthquake that hit them. Earthquakes are becoming more damaging and have increased in intensity over past few years primarily or indirectly as a result of climate change. The recent zika epidemic that stuck various parts of the world was also linked to change in weather patterns and hence shows how climatic conditions are affecting the health industry. The zika epidemic caused the world health organization commonly known as WHO to conduct a study which concluded that climate change was responsible for approximately quarter million deaths a year throughout the world. Additionally, world economic forum’s (WEF) risk assessment report came to a conclusion that 4 of the 5 5 biggest risks that the world faced were related to climate change except for weapons of mass destruction. Tourism is a diverse sector which employs hundreds of thousands of people around the world and contributes billions of dollars towards economies of various nations. Extreme weather events such as floods affect tourism industry and cost jobs and livelihoods. Thus, it is evident that global warming has a chain effect and has the potential to affect global business order. In an increasingly connected world where businesses work together cutting across national boundaries, there is no doubt that changes in climate will affect all the parties and stakeholders involved. Thus, a serious effort is required on part of businesses, governments and general public to tackle this global epidemic. There are various solutions to this problem which require efforts by all parties involved, some of which are as follows.
As the world makes its way to a warmer environment it is essential that steps be taken to mitigate these changes for a better and sustainable future for both businesses and the environment. As far as general public is concerned green commute is the solution. Public transit is the best way to offset what climate change entails. Using energy efficient devices at homes help in mitigating some of the effects. As far as businesses are concerned, carbon tax has been proposed in recent years. Some governments have imposed this tax while other regions continue to fight over it to ensure huge margins for corporates. Businesses are the core reason for emissions of huge amounts of dangerous gases. Carbon tax helps put a barrier in their operations and makes the businesses pay for the amount of carbon they release. There has been a growing opinion that carbon tax poses problems for businesses, affecting their budgets, resulting in loss of jobs and production. However, the revenue generated from carbon tax could be used to generate jobs and sustainable businesses.
Humans exploit fossil fuels in order to meet their energy needs. Cars, aviation, electricity are all derived from non-renewable resources in one way or the other. Renewable energy sources such as solar, wind, hydro should be employed on a large scale to offset the carbon emissions caused by massive fossil fuel exploitation. Although there has been a recent push for renewable energy to replace fossils as primary source of energy, there are certain challenges associated with use of these renewable resources. Solar panels and wind mills prove to be expensive investments despite long term gains. Investments in these sustainable venture lacks on the part of governments due to budget crunches and pressures from businesses. Governments should put strict regulations on businesses and provide monetary assistance in installing industrial filters that will help businesses in upgrading their infrastructure. Simultaneously it should be ensured no jobs are lost in the process or way to recovery. Ever since the industrial revolution, the world has faced massive amounts of emissions dumped into the environment at the expense of corporate greed, ignoring the environment throughout their business endeavors.
It is expected that global temperatures will rise by approximately 2 degree Celsius by 2100. This should serve as a grim reminder to all the nations throughout the world that climate change is a reality and requires urgent attention. Failure to tackle these problems will result in a cascading effect which has the ability to severely damage global business infrastructure. Globalization ensured that the world got interconnected and traded without any boundaries to keep the global business engine running. Climate change threatens to damage the very foundations of globalization and relies entirely on what the forward course of action would be. This is the only world we have and it is our responsibility to ensure its survival and as It is commonly said ‘we have not inherited this world from our ancestors but rather borrowed from future generations’.