Question

What is the ethical implication to business based upon climate change? and How businesses should adapt to the enviroment in order to become successful?

Answer 1

It is certain complex environmental impact such as climae change will directly affect business, society, and ecosystems. Until recently, companies have for the most part freely emitted carbon, but they will increasingly find that those emissions have a steep price, both monetary and social.There have been many manifestations of climate chnage in the last 10 years like melting of snow and ice from many mountains and in the polar regions. More regional changes have also been observed, including changes in Arctic temperatures and ice, wind patterns, rice in tycoons and cyclones near the coasts.

Most of the increase in global temperature observed over the past fifty years is very likely due to human emissions of greenhouse gases .Business have been major contributors to the emissions in the form of industrial wastes, untreated dumpings ,commercial transportation , mining etc.It's time for the business to ccount for the social cost because they were given access to to the wealth and the resources from the society.
Climate change is now a fact of political life and is playing a growing role in business competition. Greenhouse gas emissions will be increasingly scrutinized, regulated, and priced. While individual managers can disagree about how immediate and significant the impact of climate change will be, companies need to take action now.Firms have to be held liable for the carbon footprints and the damage exerted to the environment.

Companies that persist in treating climate change solely as a corporate social responsibility issue, rather than a business problem, will risk the greatest consequences.Ther eha sbeen an increasing stress on the companies to focus their decisions on all stakeholders.

There are many activities which are expected of business by society as part of their ethical and moral conduct. how businesses can adapt to environment ?


1.Cutting wastes and using natural resources effeciently can save costs and boosts profits
2.Making immprovement at the source rather than after emmissions.
3. Giving preferences to producrs and services have less envrionemntal implicaions like eco-labelling4.
4. installation water and waste treatment plants.
5.Cmpanies can have a governance and steering mechanism in place to develop and implement comprehensive climate strategies
6.Companies’ climate responses focus primarily on measures that have a short-term cost-saving effect.There needs to be a shift in this approach .
7.Climate change can spur innovation, inspiring new products and services which are less carbon intensive or which enable carbon reduction by others.
8.Companies can enhance the resilience of their supply chains, for example by reducing reliance on price-volatile fossil fuels by shifting towards renewable energy.
9.Implementing best practices in managing climate-related costs is the minimum required to remain competitive.
10.Every firm needs to evaluate its vulnerability to climate-related effects such as regional shifts in the availability of energy and water, the reliability of infrastructures and supply chains, and the prevalence of infectious diseases.