Ever since a valid concern of climate change was first raised, such industries as energy and transport have worked on mitigating the impacts on the environment. Even though it seemed climate change deprived business opportunities, it simultaneously accelerated the development of more energy-efficient technologies. In my view, climate change does not always adversely affect business.
Soon after researchers started alarming that incessant increase in the earth’s average temperature will enhance detrimental and irreversible environmental impacts, such industries as energy and automobile were forced to reconsider their business plan. The governments scrambled and established more sensible controls over the industries to mitigate the risks. The change, hence, slowed down the business development, which the industries initially had expected. Since the power plants, where coal was used as a primary source, were criticized for the greenhouse gas emission, the energy companies were pushed to develop an alternative energy source such as water and geothermal.
In other words, climate change only changed the landscape of the industry. It triggered the invention of new technologies, exemplified by electric cars and sustainable power plants. While acknowledging the negative impacts resulting from climate change, this challenge seems to have brought a huge business chance. Automobile companies which strived in the 20th century are still surviving while facing challenges. The hybrid car, which Toyota introduced a decade ago, was welcomed by users worldwide. Additionally, newcomers like Tesla launched electric cars for personal use, resulting in competition in the market.
In conclusion, while climate change negatively affected business to some extent, it could be understood that climate change only created a competitive market for better technologies. Even if business is knocked down due to the environmental shift, it has resilience for recovery.