Climate Change Impacts Global Businesses

Research in climate change suggests that even an incremental increase in average global temperatures can trigger disastrous effects around the world. Although efforts are being made to curb carbon dioxide emissions and sustain stable environments, climate scientists warn that “there will still be consequences" if more drastic actions are not taken. Global businesses that depend on vast energy usage are now paying attention to new corporate social responsibility (CSR) initiatives.

For years, the budget limit put on carbon emissions in the atmosphere was fixed around 1,000 billion tons. However, according to recent studies, the budget will have to shrink by more than 40 tons a year to keep Earth from exceeding a global temperature of 3.6 degrees Fahrenheit. Passing that global temperature threshold would be lethal in countries like Costa Rica, where "humidity [already] routinely tops 90 percent" according to New York Magazine. Extreme heat can significantly impact global health and increase risks of heat strokes and heart diseases, causing mass migrations to areas relatively less impacted by climate change. This would severely affect the healthcare industry and leave businesses starved of consumers, laborers, and resources.

More regulations are necessary to curb carbon emissions. The industries most affected by such measures include chemicals, petroleum based transportation, and coal mining, as vehicle emissions and fossil fuel use have to be limited or outright eliminated. Companies are now recycling materials and making use of renewable energy sources, making such practices the norm for standard business procedures.