Global Warming as a Business Opportunity
Among a host of issues that are being vehemently discussed and debated in the international arena by world leaders – the alleged Iranian stealth nuclear programme, North Korea’s reticence, the American hegemony, the twin wars on Iraq and Afghanistan, Global recession and its effects and Climate Change – it is the last mentioned that would have utmost significance for business and would be listed at the top of the things to act on with alarming speed.
Climate Change as an International Imperative: ‘Climate Change’ has evolved from being a topic of discussion to being an intense programme of action, requiring immediate attention from world leaders. The G8 Meetings held in vast corners of the globe and the Climate Summit have been pressing for a sea change in policy on the Government’s part to accommodate the rising demands of a warming globe. While the developed and the developing economies were trading blames in the previous meetings and conferences with no solid plans of action, the recent congregations have at least resulted in the leaders agreeing on tangible targets that they need to work on, bringing down carbon emission levels from industries and cutting back on the use of fossil fuels.
The Role of Business: Naturally, the Governments that have agreed upon these goals at conferences would not be able to keep their words and act on their promises, unless businesses were pressed into action. And that is not just corporate social responsibility but is an area of tremendous business opportunity that organizations can firmly back and bank on.
The Business Opportunity: To develop technology in such areas as alternative fuel and hybrid vehicles is one opportunity that businesses are already working on. The economic recession and the volatile oil prices have also forced the Big Three of Detroit to look at other models of automobiles that would be less fuel consuming and more environmental friendly. With the debate on global warming having grown in stature and importance, merely subscribing to the principles of acting responsibly would help businesses reap tremendous goodwill that could be translated into a favorable consumer attitude. The threat provided by global warming is a solid opportunity that businesses can latch on and exploit in technology and in the market.
