Some people argue that the revolutions on climate change regulations will give adverse impacts on businesses. Others believe that they offer new opportunities for business. Although these reforms could hold back businesses financially for shifting the policies, I tend to be with the latter statement because they could offer worth-exploring fields and make a business out of them.
On the one hand, companies will suffer financially as they have to shift from their old-fashioned and conventional policies to more eco-friendly production policy as a consequence of restricting climate change reforms. For example, some power plants in Indonesia show an increased production expenditure after raising the required percentage of biofuel usage to generate electricity as a replacement of coal. However, in my opinion, apart from the reforms, this issue is inevitable due to the limited stock of fossil fuel.
On the other hand, a breakthrough in climate change policies offers new fields for business to adapt with, explore, and make benefit from it. In detail, as the eco-friendly policies restrict on some areas, they consequently open up possibilities in other area counterparts. For instance, a well-established gasoline-fueled car producer from South Korea, Hyundai decided to expand its automobile manufacturing to electric cars in 2020 after the renewal of international agreement on reducing pollution and carbon footprint in general. I profoundly think there are more benefits for the companies.
In conclusion, even though some of the changes related to climate change could give financial burden for enterprises due to the shifting to more sustainable regulations, I strongly believe that they open up new opportunities to produce more sustainable products.