Global Climate Change

Final thoughts on Global Climate Change and Business

2009-12-01T21:10:00.000-08:00

Looking back on the information I have come across over the previous two months it is apparent that there are many effects on the Business world when it comes to global climate change. There are so many factors that influence the effects that it almost seems impossible to control.

The good news is it seems that more and more businesses around the world are increasing their awareness on global climate change. Initially it seemed that increased costs to implement changes would greatly affect businesses, especially during the difficult economic times that we are currently facing. Now it seems that in order to remain competitive businesses must also think about their carbon footprint and the message they send to their consumers.

A recent article published on Greenbiz.com states, "Smart companies aren't just making 'green products'. They're taking a deep look at their sustainability practices". What this means for businesses is they must look towards the future and realize how to implement business practices that are mutually beneficial to them as well as the environment.

The COP15 conference will be held in December in Copenhagen. This event is aimed to increase awareness and drastically reduce emissions in the future. This is a collaboration of various leaders in the business world as well as other well known individuals to include former Vice President Al Gore. This shows that businesses from around the world are doing their part to combat global climate change.

The State of Green Business Report was established in 2008. In both the 2008 and 2009 reports the results were mixed. Despite some of the negative results, it seems there is a light at the end of the tunnel. Businesses are working harder to implement new technologies and measure the effects of their production. It is evident, that the future of our planet rests largely on the decisions made by businesses.

Time is a key factor when determining the impact of global climate change on the business world. However, time is limited and only time will tell how good or bad the effects of decisions made by businesses will impact our world for years to come.

References:

http://www.prnewswire.com/news-releases/porter-novelli-partners-with-the-copenhagen-climate-council-to-fight-climate-change-and-drive-action-with-social-media-78154432.html

http://www.greenbiz.com/blog/2009/11/20/climate-counts-and-green-race-top

http://www.stateofgreenbusiness.com/

A Few Positive Effects of Climate Change on Business

2009-11-19T20:00:00.000-08:00

The majority of what you hear and see regarding global climate change and global warming focuses on the negative aspects and how we need to slow the effects. Through my research I have also come across a few positive effects on how these changes can impact business.

The warming of the earth would eventually cause the ice in the Arctic region to melt. This, in turn, would create a new opportunity for for trade routes in the area. Currently, this part of the world can only be used to transport during the summer months, but if the ice were to melt it would be available throughout the year.

One definite positive effect of climate change is the increase of businesses using new, cleaner sources of energy. Three major companies, specifically General Electric, Du Pont and Bank of America have all put plans in place in an effort to "go green" and reduce emissions within their organizations. It is good to see that although there are many negative aspects to global climate change, there is the opportunity to raise an awareness for companies to make a difference.

More and more companies are making an effort to promote themselves as being environmentally friendly in an effort to maintain a competitive edge. New products have been introduced and are being marketed more than ever. These include more complex inventions such as hybrid automobiles to the simplest of products to include cellular phones made from recycled materials or even the reusable grocery store bags that have become ever popular. When you think about it, all of these products resulted from the increased risks of global climate change and had it not been for this these inventions may have never come to be. In addition, the money that consumers are spending on these products creates profits for these companies which keeps the business world booming and competitive. It seems as though earth friendly products have become the latest trend to hit the market.

Although the risks still far outweigh the benefits when it comes to global warming, there has been some good that has resulted.

References:
http://www.environmentalgraffiti.com/offbeat-news/the-top-5-positive-effects-of-global-warming/728
http://solutions.marsh.com/climate/documents/climateChange200604.pdf
http://www.foxnews.com/story/0,2933,477457,00.html

More Effects of Global Climate Change

2009-11-11T08:31:00.001-08:00

It seems that there are so many factors that affect the environment that also greatly impact the business world. After reading Blooms Book Chapter 8 this week it is obvious that power also has a huge impact on businesses.

In addition to transportation, businesses rely on power to operate. In my personal career, working at a Credit Union, I began to think of the number of branches that we operate as well as the electricity that it takes to run each location. Things that didn't seem to be a big deal before like turning off lights and computer monitors, seem to be a bit more in perspective now after reading this information.

There are so many options available to businesses in the form of renewable energy, unfortunately this may not always be the best alternative for them. One option that I found online, SolarCity gives businesses access to information to see how there energy is being used in order to help increase efficiencies and lower costs.

If the business world does not do more to decrease greenhouse gases due to energy consumption, it will greatly impact the environment. The EPA states that businesses which implement a greenhouse gas management strategy and strive to be more energy efficient will actually have a competitive advantage against companies who do not. In addition, thousands of companies have benefitted from implementing changes to increase efficiencies within their company. Improving energy efficiencies is a win win situation for both businesses and the enviroment due to the increased costs of other forms of energy.

According to the EPA generating electricity is the largest source of emissions in the United States. In 2007, the numbers were 34% from all sources throughout the country. When you think about the big picture and the number of businesses that operate throughout the United States, it is easy to see that the harmful effects will continue if more is not done in the business world to help the environment.

References:

Bloom, Arnold J., (2008) Chapter 8: Mitigation: Electric Power Generation
http://www.solarcity.com/commercial/powerguide-energy-monitoring.aspx http://www.epa.gov/climatechange/wycd/businesses.html http://www.epa.gov/climatechange/fq/emissions.html#q4

Effects of Global Climate Change on Business

2009-10-23T19:15:00.000-07:00

In addition to my career working for a financial institution, many of the effects of Global Climate Change impact my major in Business. One of the main factors that can contribute to the environment is transportation and emissions.

There are many articles on the internet as well as those that we have read in class which state that transportation emissions greatly contribute to global warming. One study in particular which was published in the USA today states that up to 15% of manmade CO2 comes from various sources of transportation including cars, trucks, airplanes, trains and ships. Considering this is a major source of how business is done, it is obvious that we can not do without these various forms of transportation.

We must, however, be able to take measure to help slow some of the harmful effects. There are many experiments and technologies being developed which could eventually result in a win-win situation for both the environment as well as the business world. UNFCCC http://unfccc.int/essential_background/feeling_the_heat/items/2908.php states that gasoline fuel cells can help reduce carbon dioxide emissions by about 50%.

Everyday we hear about various things that we can do to "go green", but both individuals as well as business must realize that we need to act on these suggestions or it will greatly impact our futures. In the business world the harmful effects will eventually lead to great losses as a result of damaging storms which are caused by the climate changes. In the future buildings will have to be built differently as a result of increased sea levels. This will, more than likely, increase the cost of building which will obviously have a great impact on all types of businesses.

The list of effects and impacts can go on and on......

How will climate change affect my career?

2009-10-05T20:48:00.000-07:00

Throughout these first six weeks of class I have definitely learned a lot of information that I was not aware of before related to climate change and the environment. There are many ways that I feel this can impact my career and the industry in which I work.

Working for a financial institution, there are many things that can be impacted as a result of climate change and global warming, but there are also things that we may also be doing that contribute to the harmful effects of global warming.

The first things that come to mind is ATMs and drive throughs. Although these services seem very convenient, when you think about it we are really hurting the environment due to the increased emissions that result from engine idling. When you think of this on a very busy day multiplied by the various locations I'm sure it all adds up.

On the flip side, not only do we have an effect on the environment, but the environment also has an effect on us. If global warming results in changes to the economy it can adversely effect the way a financial institution operates. As an example, if sea levels continue to rise this will eventually have a great impact on the amount of land. This can have an impact on mortgages and loans that are created. It is almost like all of the factors related to global warming and climate change have a domino effect on everything else. If one thing is effected, in the longrun it will also impact many other things.