Business and Climate Change

Paper Summary:

This paper examines the problem of climate change brought about by the operation of major global industries. The paper looks at the threats imposed by climate change and the opportunities presented by action on climate change. Also discussed are the different business strategies applied by American and European firms in response to climate change.

From the Paper:

"Climate change has become a major issue on the forefront of economic and political discussions. The cause of climate has been indicated as a build-up of greenhouse gases (mostly CO2) in the atmosphere as a result of emissions mostly from industry. The evidence presented in support of global warming has been robust but not completely conclusive (Levy & Kelley, 1997). The mass sum of greenhouse gas emissions produced by all nations of the world could yield potentially devastating ecological effects (Levy & Kelley, 1997). However, businesses and industry that rely on energy produced by fossil-fuels are concerned that early action on global warming in the absence of conclusive evidence could lead to terrible economic losses. On the other side, inaction could also prove disastrous, since global warming could potentially lead to floods, droughts, rising ocean levels, and disruptions in the global food supply. Moreover, there are both threats and opportunities that are presented to industries due to climate change."

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