Exploring the challenges and opportunities associated with climate change in business
Author(s):
jayasri alugubilli, L Harini, Palak Mundra, Tisha Gandhi, Charvika Goyal, Vivek Gupta
Keywords:
Abstract
Increasingly, companies are being asked to respond to the threat of climate change because it affects their position in the global community. When companies can effectively integrate strategy, people, processes, and technology to achieve 4,444 climate-responsive initiatives, the result can be a powerful tool for creating long-term value. But what are the business effects of climate change, the focus of the research? The different assessment of business effects of climate change is based on the difference between direct and indirect effects of climate change. So, the question becomes, how do direct and indirect differences affect entrepreneurship? Some of these effects threaten sustainable high returns in a changing climate. What concrete actions can companies take to respond to the threats and opportunities of climate change? To support the business facts about the impact of climate change, a qualitative study was conducted firstly on business houses in Nepal and secondly in a global context. Business initiatives that respond to climate change are typically split across multiple functions, which risks fragmentation. Climate change has the potential to change parts of our planet, the context, and the assumptions on which businesses today typically operate. This change is due to both direct and indirect effects of climate change on business. Many business leaders feel a deep responsibility to respond to the urgent global challenge of climate change. But in addition to social responsibility, business leaders must also be aware of how climate change will alter market dynamics, competition, and profitability.
Article Details
Unique Paper ID: 162844

Publication Volume & Issue: Volume 10, Issue 11

Page(s): 183 - 192
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