Some people think that climate change could have a negative effect on business. Others think that climate change could create more business opportunities. Discuss both views and your own opinions.
It is often perceived by many that altering weather patterns is likely to deliver devastating impact on commercial activities, while some are optimistic about the outcome of this phenomenon. I will analyse both views and draw a plausible conclusion.
Those fearing severe ramification of shifts in climatic behavior feel that businesses in many regions could face droughts and flooding due to the unpredictable weather phenomenon due to unannounced prolonged dry spells and excessive precipitation, especially those involved in agriculture will be the hardest hit. Other industries such as fishing will also encounter loss of marine life as rise in temperature will also erode the coral reefs. To cite, the WHO has in its report stated that regions with temperatures greater than 45 degrees Celsius, or higher will face severe water shortages, and 70% farmers, and the companies involved in processing food, in those areas will likely lose their livelihood.
On the flip side, some see abundant opportunities in this evolving scenario as the need will arise to move away from fossil fuels and look for alternative energy sources, like Solar energy, and this would prove to be rewarding for those manufacturing equipment, and possessing expertise, for such technologies. Simultaneously, many other industries like automobiles will be moving toward fully electric vehicles instead of combustion engines, creating new business venues. Moreover, other businesses will have to adapt to the newer conditions. For example, agriculture will be moving towards vertical farming and mimic the environmental conditions to grow fruits and vegetables throughout the year.
To conclude, undeniably, despite climate change creating possibilities for commercial endeavors, this is bound to prove to be a recipe for disaster since it might fetch windfall profits for some, but it will bring miseries for a majority, leaving them high and dry.
