A recent KPMG report, highlights ten “sustainability megaforces” that will shape markets in the decades to come. The list includes population growth, energy and fuel, ecosystems decline, and material resource scarcity, among others. These interconnected trends will create risks and opportunities for business. In response, companies need new strategies, particularly for market impacts relating to what KPMG calls the “megaforce” influencing all others: climate change. Forward-thinking companies are starting to draw links between climate change and other major trends that impact business.
It is the demand of the era that businesses have to do their part in response to the threat of the climate change. Most of the large companies these days see to the managing of the greenhouse gas emissions. They also help in minimizing the level of energy consumption as an integral part of the environment based management practices. Many people have set the targets for the reduction of the greenhouse gas emission. One can work with the suppliers and the consumers for causing a reduction in the rate of emission.
One can consider climate change as the strategic issue. It is the logical conclusion that companies should seriously think about the risks related to the change in climate. This can cause possible danger to the various business opportunities. One should be able to predict in advance that how a change in climate can cause difference in business. Based on the thoughts and the predictions one can decide how to protect the business strategies from the possible climatic risks. This way, one can reduce the downside risks, and there can be augmentation in the upside opportunities.
2019 may be remembered as the year when climate change activism went mainstream. At the end of September, in a series of rallies timed to coincide with the United Nations climate summit, an estimated six million people in more than 180 countries took to the streets to demand far more action to cut greenhouse emissions. This was probably the biggest climate protest in history. Protests in the form of school walkouts had taken place throughout the world for a whole year. The ‘Extinction Rebellion’ initiative has added a further edge by seeking to demonstrate the potentially catastrophic consequences of inaction.
Central banks and other supervisory authorities are now considering climate change as a risk to financial stability. This has led to the establishment of the Task Force on Climate-related Financial Disclosures (TCFD) in 2015, and the Network for Greening the Financial System (NGFS) in 2017. Both are concerned with enhancing the quality of climate-related awareness, risk management and transparency.
It is important for the companies to develop the sort of corporate data expertise and knowledge based on climate change. There are companies to go furthest in causing integration in the change in climate as part of the various business strategies. This however, can emphasize the amount of time and effort being invested in the testing of the new technicalities and the set of the inventive approaches. However, before making an investment, the companies should understand the several implications made in business.
Hence, the conclusion for the above lines would simply be that of cutting down greenhouse emissions, going green and using resources by means of sustainable development.
Refrences:-
arabessay.com
Eduindex News 
You must be logged in to post a comment.