Distributed Low Carbon Innovation for Climate Change Mitigation
Verified
Added on 2023/04/22
|18
|5061
|155
AI Summary
This report discusses the threats to business from climate change and how disruptive low carbon innovations can address them. It also explains the different types of innovations and their advantages on the environment.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running Head: BUSINES ENVIRONMENT0 Business Environment Report Student name
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Business Environment1 Table of Contents Introduction......................................................................................................................................2 Threats to business...........................................................................................................................3 Damage to workplaces and processes:.....................................................................................3 Opportunities in term of Cost for investors:.............................................................................4 Reputational Risk:....................................................................................................................4 Disruption of food and water supply:.......................................................................................4 Uses of these opportunities:.....................................................................................................4 Analytical framework:.................................................................................................................5 Summary of innovation...................................................................................................................6 Disruptive innovations to address threats to business.....................................................................7 Conclusion.....................................................................................................................................13 Reference.......................................................................................................................................15
Business Environment2 Introduction Climate change is a huge issue in front of overall world. It is having a key issue, which is carbon releases from the different industries of overall world. Climate change is affecting economy of different countries, such as China, USA, UK, India, Australia, and many more. The government of UK is facing so many issues in their economy as well as health of people from climate changes. They are forming comities for reducing different things, which are the reason of climate changes.Climatechangeiscreatingdifferentthings,suchasfloodingandbedweather conditions. Therefore, Most of the countries are doing their best efforts to stopping all those things, which are reason for climate changes. This report will discuss about Distributed Low Carbon Innovation (DLCI) in next sections. Distributed Low Carbon Innovations are helpful for reducing the global warming as well as it is securing our future. Health is the most affecting thing from the climate changes. There are many things, which are affecting from climate change. Mostly food, water and energy are affected from the climate change. This report will explain about the different types of innovations as well as what are the advantages of those innovations on environment. Environment is polluted from the industry and different things. Industries are producing different products and those products are generating carbon. Vehicles are second reason for polluted the environment. Everyone wants personal vehicle for his or her work, which is generating high carbon. These things should be control by the government in present time.Otherwise, it is making worst condition of environment(Alexander, 2014).This report will also describe about the three fields, which are introducing technologies in wide range and reduce low carbon in their product and services, such as mobility, building and energy supply and distribution. The UK government is creating new concepts at their political basis that private and public sector companies are having a relationship for reducing the greenhouse emission in their products and services. Business processes are having different threats from climate change. The UK government is facing challenges for partnership of private and public sector industries. It is for controlling the climate change(Scrase & Smith, 2009).This report will also describe about the threat for business from climate change in the later section.
Business Environment3 Threats to business Business processes are affecting from different threats that are related to the climate changes. It is a reason for affecting progress of industries. Climate change is affecting business of different organizations.Industries are making their business from productivity and their growth in particular field. There is a big role of innovations for their productivity. It is a process in which productsandservicesmakingtheirbusiness.Therefore,theyincreasetheirproductivity. Sometimes, it is a reason of high carbon production. There are different threats to business from climate changes. Innovations are handling this issue in upcoming time. Innovations are providing technologies to reduce harmful things form industries(Baregheh, et al., 2009). The UK government is having few Acts for climate change, such as Climate Change Act 2008. It requires that emission of greenhouse gases are reduced for safe environment. The Act establishes the framework to deliver on these requirements. This Act is helpful for taking decisions for tackle climate change by UK’s Government at international level. Main of aim of this Act is reducing emission of carbon dioxide and other greenhouse gases by 2050. Committee on Climate Change (CCC) is also established for maintaining the targets, which are evidence-based and independently accessed.It is having a target to reduce emissions by at least 80% of 1990 level by 2050. UK government is taking input for designing policy from the deferent departments. The two departments, who are responsible for collating this above input belongs to UK government: 1.Department for Business, Energy and Industrial Strategy (BEIS): it is leading on policy for reducing emissions of greenhouse gases. Mainly it is working for mitigation of greenhouse gases emission. 2.Department for Environment and Rural Affairs (Defra): this department is leading on domestic adaptation policy. United Nations Framework Convention on Climate Change (UNFCCC) was created in 1992. UNFCCC is responsible for international action on climate change. It is an international agreement for climate change and 195 countries have joined this convention. It is focus on main four key areas: Mitigating greenhouse gas emissions
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Business Environment4 Adapting to climate change Reporting of national emissions Financing of climate action in developing countries Climate change is creating these risk and opportunities for the investors, which is helping to manage global warming as well as climate change. These threats are changing the market, as they are highly affects the business of different industries(Lily, 2018). Global warming is also an issues as well as business is affected form it in a high cost. Innovations are having an important role in solving these issues with using Disruptive low carbon innovation(Brooks, 2013). Industries are not only the reason for climate change but different innovations are also having a reason behind it, such as vehicles, industries of different countries(Bulkeley, et al., 2010). There are many risk form climate change, few risk are as mention below: Damage to workplaces and processes: Threat:Physical damage to workplace or organization, processes, equipment because of bad weather condition, such as flooding. These reasons can disrupt business by halting production as well as workers to get to work. Opportunity:All the organizations are focusing in the resilient building designs, which are better with stand damage from flooding, extreme weather conditions, and storms. Developing countries are invited investors to invest in the new constructions and infrastructure projects that are built to handle different bad conditions of weather. For investors, this is an opportunity to use energy conservation with existing infrastructure. It is also growing their shares in the market, as they are spending the ‘green’ constructions(Donovan, 2017). Opportunities in term of Cost for investors: Threat:Investors are ignoring those companies in which old processes are still used. Which are polluting the environment? New opportunities are providing to those companies, which are producing environment friendly products. Opportunity:investors are more interested in those companies, which are having environment friendly products such as low-carbon products. Dirty industries are having short term advantages
Business Environment5 form their products. They are also facing problems from climate changes. However, they are producing products and they are not changing their processes, which are producing high carbon in their production(Forrester, 2018). Reputational Risk: Threat:Investors are not chosen those companies, which are not having environmental friendly processes. Opportunity:Investors are highly interested in those companies, which are having quantitative and qualitative disclosure. There are few fields, which are helpful for environment, such as energy. It is a way to identifying those companies that are having best management practices. Environment friendly processes and products are helpful for the organization that makes reputation of organization in front of investors. Investors are searching for those industries that are having environmental friendly processes as well as used low-carbon generation processes (Foxon, 2013). Disruption of food and water supply: Threat:Food and water are basic requirements of employees. If these things were having shortage then it would be a great risk for the company. Opportunity:Companies should invest in the water purification system and clean farming. It is a reason of health issues in terms of employees health is not good and it directly affecting production of companies. Most of the investors are invest in the farming and other things, which are basic needs of human being(Drucker, 2014). Uses of these opportunities:Sustainable resources are best things to invest and they are most beneficial things to provide better advantages to the investors. Sustainable energy resource is providing a low income, but it will provide high profits in upcoming years. Investors are highly interested in those companies that are having sustainable energy resources in their processes. In upcoming years, Low-carbon economies will have approximately $90 trillion for their products and services( Kramer, 2013).
Business Environment6 Analytical framework: Companies can use the disruptive innovations to framing for reshape the way to produce good and service. Disruptive innovations are providing benefits on conventional attributes of price, reliability and performance(Christensen, et al., 2015). DLCIs are defined better in this term: Technological and business model innovations that offer novel value propositions to consumers. Moreover, they can reduce greenhouse gas emissions if adopted at wide scale. There are two things, which is most important for the mitigation of climate change problem. Following things are must considered by government, which are as: 1.Whichindustriesarefacingthatinnovationsarepotentiallyreduceemissionsof greenhouse gases. 2.What is the ratio of potential emission reductions from adoption of DLCI’s adoption by industries? These things are creating problems and it should reduce by using DLCIs for maximum products and services in all over the world. Methods There are three methods are used for solving climate change problem. China is producing a huge quantity of greenhouse gases. DLCIs are only a way to reduce emission of greenhouse gases. China is following all those rules and regulations, which are created for reducing greenhouse gases(Tyfield, et al., 2015). There are so many things to manage to reduce the carbon generating processes of industries. It is a huge responsibility of government and private sectors organization that they should reduce low carbon from their productions(Crossan & Apaydin, 2010). Food and water supply is also affected from the climate change and in the field of food and water supply industries, Disruptive low carbon innovation are beneficial for reducing greenhouses gas (Tyfield, 2011).
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Business Environment7 Summary of innovation Innovations are fresh ideas for creating new things for a specific purpose, which is used for solving problems or making things easier. Innovations are having four types, which are as: 1.Disruptive innovation, 2.Incremental innovation, 3.Breakthrough innovation and 4.Game changing innovation Disruptive innovations:these types of innovations are changing the business processes and it provides a new face of business. It is a way to produce new concepts for products and services of organization.It is a way to change processes of products and services of an organization (Tyfield & Jin, 2010). Incremental Innovation: these are the common innovations, which are made changes in present innovations, such as mobile devices, operating systems, and many more. Source:( Lopez, 2015) Innovations are based on two things, which are market and technology, as shows in above figure. Breakthrough innovation: these innovations are helpful for the small businesses, they are providing different ideas, which change all the processes, and it will provide a huge business
Business Environment8 from that innovation. There are so many examples of this innovation, such as iPhone, Dyson, and Microsoft. Game changing innovation: Few innovations are change the complete market and business, such as 3D printing, Television, and navigation. Game changing innovations are useful for customers as well as company. They are having a potential for changing the history. It takes time to cover the market. However, they are change scenario of the market in upcoming time(Tyfield, et al., 2010).There are so many things to required improvements and it is a basic need of different processes, which are used in daily basis, such as vehicles. Vehicles are used for mobility. However, it is a huge reason of pollution, which is directly affecting our environment. This field is highly modified but it is a reason of pollution. Therefore, disruptive innovation is must require in this area. Electric vehicles are a way to reduce pollution in a small term. However, it is having much cost(Pinkse, et al., 2014).In addition, Tesla motors are using disruptive innovation and they are launching electrical cars, which are environmental friendly. Disruptive innovations to address threats to business Disruptive innovations are creating a new market and value network, which is disrupts an existing market and value network. Not every innovation is disruptive, as automobiles, they are not changing other ways of travelling. However, new technologies are changing markets from their functioning. There are so many fields in them; disruptive innovations are changing their market. As an example, Smartphones are changing the market of personal computers, Persona Laptops. All work is done using the smartphones and they are providing so many different facilities, which are provided by the other devices with more advantages( Schiano, 2018). Inbelowfigure,describeaboutthecommercialdevelopmentofmodificationoptionsin worldwide IAMs and DLCIs. It shows commercial maturity of mitigation options analyzed in Global IAMs for 1.5 °C mitigation. It shows commercial maturity of potentially disruptive consumer facing low-carbon innovations. Left-to-right scale at top of figure overlays the technology readiness level (TRL) framework used to assess the commercial maturity of new technologies onto a simple staged model of the technology lifecycle from basic research to diffusion(Wilson, et al., 2018).
Business Environment9 Source:(Wilson, 2017) Greenhouse gases emission is highly increasing day by day from industries. It must control by the private sector as well as public sector organizations. There are so many things are available to stop it. However, industries are not following the standards strictly. It is a basic thing to stop unnecessary products and services, which are the reason of climate change. Source:(MORGAN STANLEY, 2017)
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Business Environment10 In above figure, global greenhouse gas emissions is shows in percentage as well as it is showing the investment in ‘climate change’ mitigation technologies. Energy is having 35 % of global greenhouse gas emission and it requires the most changes for creating more benefits to environment(Tyfield, et al., 2015). In below figure, global renewable energy installation report is showing on the basis on years and energy. Investment is falling down but energy is increasing always. It will provide high profit to the investors in upcoming future(Foxon, et al., 2010). Source:(MORGAN STANLEY, 2017) Emission of greenhouse gas is affecting the climate and China is on the top of all the countries. Overall industries greenhouse gas emission is showing in the below figure. Source:(MORGAN STANLEY, 2017)
Business Environment11 Energy is a basic need for industries and many other things. US, India, China and Saudi Arabia are working at large-scale on wind and solar power. At small-scale, off-grid solar is used for energyinfrastructures.Renewableenergysourcesareprovidingsomanybenefitstothe industries and it is improving efficiency of industries at worldwide. Source:(MORGAN STANLEY, 2017) In case of agriculture, so many changes are made for efficient seeds and crop. ‘Livestock methanereduction’innovationsareusedforchangingtheagriculture.Greenbuilding development is providing betterment in the infrastructure designing. It is a topic for research and development(Lester & Hart, 2011). Transportation is a huge reason of pollution. Vehicles are not properly used and it is affecting environment badly. Rapid electric vehicle is a disruptive innovation in the market and it is providing a better help to reducing carbon problem to environment. Public transportation is a proper way to reduce unnecessary use of vehicles. Research is going on green transport and it will help to environment(Urban, et al., 2013). Industries are taking responsibilities to reduce low-carbon in their productions. They are also uses different DLCI’s for thier products and services.There is a way to use renewable energy for different things in our daily life purposes.
Business Environment12 Table 1. Characteristics of disruptive low carbon innovations (= required;= not necessarily✔✖ required). Source:(Wilson, 2017) In above table, mentions different characteristics of the disruptive low carbon innovation and it also compared with the any low carbon innovation and Christensen disruptive innovation (www.pwc.co.uk, 2015). Integrated Assessment Model (IAM) is helpful for finding different reason of climate changes. It is a model that is based on two approaches, which are global and process-based. Paris Agreement is quantified in details by global interacted assessment model. In addition, Process-based IMA is representingdifferentsocioeconomicandbiophysicalprocessesinforestry,economic, agricultural, and energy. It is also represent impact of resulting emissions on the climate system. IAM’sprovideauniqueanalyticalbridgebetweenemissionbudgetsandglobalmean temperature rise(Wilson, et al., 2018). Three domains are using DLCIs for reduce emission of carbon that affecting the environment, which are mobility, buildings and energy supply and distribution. Food is also a factor that is also considered in the potential DLCIs. However, few of the consumers are facing problems (Wilson, et al., 2018). Researchers are highly agreed for disruptive technologies, such as Internet of Things (IoT), Vertical farming and smart grid. There are few changes in the agriculture style and it is not link to technology. Technologies are helping in all these things. However, few things are based on the mutual understandings of human, such as reduce food waste and reduced meat in diet. Digital
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Business Environment13 technologies are working for this area and it will provide many opportunities for new business models(Wilson, 2018). An Uber taxi service is a disruptive innovation and it is based on technologies, such as GPS, smartphonesandArtificialintelligence.Newupcomingtechnologiesarebasedonthose concepts, which are providing benefits to environment(Willis, et al., 2007). Global IAMs are useful analytical tools linking transformation pathways to warming outcomes constant with the 1.5 °C ambition of the Paris Agreement. However, IAMs have important limits in their ability to analyses the occurrence of novel consumer-facing goods and services(Wilson, 2018). Digital technologies are spreading day by day in current environment or working. It is a best way to use renewable energy sources, which are suitable for the environment. DLCI’s are growing with the help of technologies and advancement of energy systems. There are so many things, which may be converted into different model, such as Tesla motors invented battery cars, which is not having any much disadvantage for the environment. These innovations are changing the market and they change the mind of investors. Market behavior is main concern for the industries, still based on the perceptions from experts and specific innovations characterize emission-reduction potentials. It is also displacing carbon- intensive modes of energy-service provision ranging from private car ownership. It use of large- scale food production for the human beings.Distribution of food as well as other things also maintained. DLCI is also providing solution of inefficient building design. DLCI’s performance is much better for the environment. It is base to start centralized energy-supply networks for the citizens as well as industries. It has an indirect effect to reducing emissions.New entrants are coming in the market from the disruptive innovations and they challenge mainstream service providers. Conclusion It is concluded from this report that DLCI are the most required things for reducing global warming and it is beneficial for climate change. It is a way to manage the things and save the environment. Climate change is an issue in front of all over the world, especially for investors
Business Environment14 and industries. This report also described about the risk and opportunities of the climate change. It is a big issue for industries that they face high losses from climate change in upcoming future. It is also described about the different types of innovations, which are helping to reduce global warming and reasons of climate changes. It is also described about the threats for business and it role of the disruptive innovations in business processes. Climate change is an issue for health, economy, and development in upcoming future. It is also explain about the low carbon disadvantages for environment. It described about future steps, which are useful for the upcoming opportunities of business for different industries. The UK government is starting many things for controlling industries and many others things, which are the reasons of climate change, such as pollution from different products. The Paris Agreement is one of the best examples for it. They are also requested to huge countries for reducing their productivity, which are producing high carbon above the standard rate. It is also providing different data and analysis, which are helping to manage climate changes. Potential DLCIs are providing different benefits for changing production of organizations, which are emission less greenhouse gas in their products and services. Climate changes are occurring because of greenhouse gas emission. Three fields are required changes in their productions of products and service, which are mobility, building and energy supply and distribution. These fields are required technological changes and DLCIs are providing so many changes in those fields, such as pool service in taxi. Uber is a disruptive innovation in mobility. It is reducing the unnecessary use of vehicles. Finally, it is concluded that Climate change is a worldwide issues and it should be consider at high priority from all over the world.
Business Environment15 Reference Kramer,M.,2013.Climatechangeasrealbusinessrisk.[Online] Availableat:https://www.greenbiz.com/blog/2013/04/24/climate-change-real-business-risk [Accessed 13 January 2019]. Lopez,J.,2015.TypesofInnovation.[Online] Availableat:https://techblog.constantcontact.com/software-development/types-of-innovation/ [Accessed 3 January 2019]. Schiano,S.,2018.ClimateChangeIsTransformingBusiness.[Online] Available at:https://www.forbes.com/sites/forrester/2018/10/11/climate-change-is-transforming- business/#7cbd71f92f47 [Accessed 13 January 2019]. Alexander, S., 2014. Disruptive social innovation for a low-carbon world.David Humphreys and Spencer Stober,pp. 296-315. Baregheh, A., Rowley, J. & Sambrook, S., 2009. Towards a multidisciplinary definition of innovation..Management decision,47(8), pp. 1323-1339. Brooks, C., 2013.Entrepreneurs Answer the Question: 'Why Is Innovation Important'.[Online] Availableat:https://www.businessnewsdaily.com/5167-innovation.html [Accessed 10 December 2018]. Bulkeley, H., Broto, V. C. & Maassen, A., 2010.Governing urban low carbon transitions. In Cities and low carbon transitions.2nd ed. London: Routledge. Christensen, C. M., Raynor, M. E. & McDonald, R., 2015. What is disruptive innovation. Harvard Business Review,93(12), pp. 44-53. Crossan, M. M. & Apaydin, M., 2010. A multi‐dimensional framework of organizational innovation: A systematic review of the literature..Journal of management studies,47(6), pp. 1154-1194.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Business Environment16 Donovan,C.,2017.Climatechangeisthenewbigriskforbusiness.[Online] Availableat:https://www.imperial.ac.uk/business-school/knowledge/finance/why-companies- must-accelerate-climate-risk-investment/ [Accessed 13 January 2019]. Drucker, P., 2014.Innovation and entrepreneurship.1 ed. London: Routledge. Forrester,2018.ClimateChangeIsTransformingBusiness.[Online] Available at:https://www.forbes.com/sites/forrester/2018/10/11/climate-change-is-transforming- business/#4076e6d92f47 [Accessed 11 October 2018]. Foxon, T. J., Hammond, G. P. & Pearson, P. J., 2010. Developing transition pathways for a low carbon electricity system in the UK.Technological Forecasting and Social Change,77(8), pp. 1203-1213. Foxon, T. J., 2013. Transition pathways for a UK low carbon electricity future.Energy Policy, 52(1), pp. 10-24. Lester, R. K. & Hart, D. M., 2011.Unlocking energy innovation: how America can build a low- cost, low-carbon energy system..s.l.:Mit Press. Lily, T., 2018.Climate change presents risks, but there are ways for investors to take part in positivechange..[Online] Available at:https://www.morganstanley.com/access/risks-and-opportunities-of-climate-change [Accessed 3 January 2018]. MORGAN STANLEY, 2017.Climate Change Mitigation Opportunities Index 2017.[Online] Availableat:https://www.morganstanley.com/content/dam/msdotcom/ideas/climate-change- mitigation-index/MorganStanley_EIU-ClimateChangeIndex_Report.pdf [Accessed 3 January 2019]. Pinkse, J., Bohnsack, R. & Kolk, A., 2014. The role of public and private protection in disruptive innovation: The automotive industry and the emergence of low‐emission vehicles.Journal of Product Innovation Management,31(1), pp. 43-60.
Business Environment17 Scrase, I. & Smith, A., 2009. The (non-) politics of managing low carbon socio-technical transitions.Environmental Politics,18(5), pp. 707-726. Tyfield, . D. & Jin, J., 2010. Low-carbon disruptive innovation in China.Journal of Knowledge- based Innovation in China,2(3), pp. 269-282. Tyfield, . D., Jin, J. & Rooker, T., 2010.Game-changing China: lessons from China about disruptive low carbon innovation.s.l.:s.n. Tyfield, D., 2011. Food systems transition and disruptive low carbon innovation: implications for a food security research agenda.Journal of experimental botany,62(11), pp. 3701-3706. Tyfield, D., Ely, A. & Geall, S., 2015. Low carbon innovation in China: from overlooked opportunitiesandchallengestotransitionsinpowerrelationsandpractices.Sustainable Development,23(4), pp. 206-216. Urban, F., Nordensvard, J. & eds, 2013.Low carbon development: Key issues..5th ed. London: Routledge. Willis, R., Webb, M. & Wilsdon, J., 2007.The Disrupters: Lessons for low-carbon innovation from the new wave of environmental pioneers.s.l.:s.n. Wilson, C., 2017.Disruptive Low Carbon Innovation Workshops: Synthesis Report,s.l.: Tyndall Centre for Climate Change & Future Earth. Wilson, C., 2018. Disruptive low-carbon innovations.Energy Research & Social Science,37(1), pp. 216-223. Wilson, C. et al., 2018. The potential contribution of disruptive low-carbon innovations to 1.5° C climate mitigation.Energy Efficiency,pp. 1-18. www.pwc.co.uk, 2015.Climate change - the next emerging risk for your business?.[Online] Availableat:https://www.pwc.co.uk/services/sustainability-climate-change/climate-risks-and- the-fsb-task-force.html [Accessed 13 January 2019].