Impact of Climate Change on Businesses and Strategies to Reduce Carbon Footprint

Individual Report

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Evaluation of climate change could be problematic for businesses:...........................................3
There are some steps that business can implement to reduce carbon footprint:..........................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Climate change refers to the long term changes in the environmental condition that
happen over a period. It is caused by speedily increasing of green house gases in earth's
atmosphere due to primarily to burning non-renewable energies like coal and natural gas. These
gases are heating the earth and the oceans consequent in falling sea levels, changes in
atmospheric phenomenon patterns and changes in rainfall. Impact on business that is shifting in
demand, changing regulations and worsen the company's working conditions. This report shows
the conditions due to climate change and how many businesses are affected by these changes.
Further, it analyses the strategies which are related to reducing the carbon footprint.
MAIN BODY
Evaluation of climate change could be problematic for businesses:
Climate change is not just an environmental issue, it is already starting to have an impact
on the businesses around the world. Some important ways in which climate change will affects
business, with some suitable examples are:
 Increased risk due to extreme weather- Severe weather is primary reason for climate
change, due to these risks could increase for businesses. Like, storms, floods, drought
and heat waves. These events cut off the operations of business and cause them extreme
financial and physical damage (Daddi and et.al., 2018). For example, Kier Groups it is a
construction company, which is affected by this natural hazards. Because of climate
change risks can increases, insurance policy costs for many companies will rises.
 Change in resource availability and cost- Due to the climate change, supply chains
getting the resources and materials for businesses are going to be more challenging.
Rising electricity and transportation disbursement may also increase the price of moving
goods. For example, LyondellBasell is a multinational chemical company which
produces ethylene and oxyfuels. Resources insufficiency could cause this company to
use alternative materials and recycle more waste.
 Harsher working conditions- By the constant change in climate if the temperatures
rises and weather patterns change, working conditions may become harsher (Fenner and
et.al., 2018). For example, Kier Groups this business always requires a physical labors
especially for outside, that becomes more challenging for the Kier groups. This can
increase the health and safety risks.