Question

List and discuss three industries that are affected by climate change, and how are companies in these industries trying to reduce the influence of climate change on their operations? List a company from one of the industries that has been successful in implementing a strategy that addresses this area and discuss what the company has done.

Answer 1

This is a highly subjective question. I have put together my thoughts around this topic, below. My suggestion will be to go through the answer below, use that as a framework, apply your thoughts and develop your own answer.

Sooner or later, almost every industry and business will be impacted to a small extent or to a large extent, by the climate change. It's a global concern and there will hardly be any industry untouched by it in the long run.

Some of the industries that had already been impacted or will get impacted had been summarized below. The type of impact has also been explained. Actions taken or planned to be taken by these industries had also been narrated in the table below:

Sl. No.	Industry	Impact	Actions taken or planned
1.	Energy	Climate change is shifting the demand and supply pattern of the energy. For example, in Europe alone, there are several areas where demand for heating will decrease. In fact there will be some areas, where demand for cooling will increase as well. The energy consumption pattern will shift drastically. Climate change will force reduction in dependence upon conventional sources of energy such as coal and petroleum products. The supply centers will shift towards non conventional sources of energy such as solar, wind, nuclear, hydro etc.	Companies have enhanced their research & development in the areas of developing and sustaining non conventional sources of energy. We have seen popularity of solar photo voltaic cells rise in the last decade.
2	Automobiles	Automobiles design will shift towards renewable sources of energy like bio fuel.	Companies have invested in developing prototype and successful commercial models of automobiles that don't run on conventional sources such as petrol, diesel or aviation turbine fuel. They are totally powered by solar cells or they run on bio fuel.
2.	Real Estate Sector	Companies undertaking residential, commercial development across the globe are now facing challenges from rapidly changing climatic conditions leading to hurricanes, storms, water level rise for which they never designed their buildings.	Companies have made their designs and construction more suitable to handle earthquakes of higher intensity. While we are yet to come across designs that will sustain itself during typhoons and hurricanes, but companies have started using steel of higher coefficient in construction across coastal areas that are more prone to such kind of threats.
3	Insurance	Suddenly they have been exposed to an alarming rise in the number of claims and quantum of losses on account of weather and climatic conditions necessitated by climate changes.	They have started amending the loss clauses, protection and cover clauses. They have capped the insurance claim values to some of the events such as hurricane or tornado. They have introduced new products with heightened premium for insurance
4	Tourism	Industries in the areas of tourism specially across coastal areas have seen a dip in their revenues. Such places are no longer considered to be an absolutely safe harbor.	They had been constantly re-innovating their business model. They are diversifying their businesses and presence across other safer geographies.

Examples:

I will like to provide certain examples from automobiles sector.

1. Companies like Toyota and Honda have already designed and tested on pilot basis some models of hydrogen powered cars. However the same is yet to be commercialized because there are certain challenges associated with their commercialization.
2. Nissan has come up with their plans to launch commercial models of cars that will run on bio-diesel. Around 5 to 6 years back, they signed an agreement with Daimler and Ford to design, develop and test a hydrogen fuel cell system.