Some people assert that climate change fules a detrimental influence on business, while others, including me suppose that it can be a source of chances for businesses to grow.
There will be a notable decrease in the number of customer, regarding the negative impact climate change poses for business. Rising in global temperature, extreme weather events and rising in sea level threaten many aspects of life, ranging from the precence of biodiversity, healthcare to food security. These devastating effects lead to the shift in the need of people, making service/product provider companies experience the unstable amount of customer who use their products or services. For example, when experiencing extreme weather events, the travelling places become unrealistic to have a visit, which results in a substantial deduction of customers for travel companies. Facing financial inadequacy and unstabability becomes the most serious challenge for corporations.
However, it’s equally important that climate change can create chances for companies in some practical ways. As it is evident that climate change offers opportunities for global corporporations to practice coporate social responsibility, which enhance the customer loyalty and build trust from customers. Particularly, the residents these day are more conscious about the envioronmentally friendly activities that a company they buy the products from practice. They tend to have a personal bias for the company that proactively contribute realistic and profound values for the communities and the environment. Subsequently, it results in a substantial amount of customer who is loyal, mitigating and enhancing the brand images.
In conclusion, while climate change make some negative impact on, I would argue that it can be an opportunity for businesses to serve the community and upgade its images.