According to a recent NY Times article a growing number of business leaders are viewing climate change as a threat to their supply chain and ultimately their bottom line.
Examples of businesses that are adopting more climate friendly practices in response to problems caused by climate change:
– Coca Cola is adopting more water saving technologies after suffering from global droughts that are dried up water supplies needed to produce soda.
– World Bank has put climate change at the center of the bank’s mission, citing global warming as the chief contributor to rising global poverty rates and falling G.D.P.’s in developing nations.
– Nike, which has more than 700 factories in 49 countries, is switching to more synthetic materials that are less weather dependent, having experienced droughts in cotton producing countries. At the other extreme, severe floods have shut down a number of its factories in Thailand.
An upcoming study funded by major business executives and a former U.S. Cabinet Secretary entitled, “Risky Business,” is underway to assess the economic impact of climate change on the US economy. “Business leaders are not adequately focused on the economic impact of climate change” said Henry M. Paulson Jr., a former Treasury secretary in the George W. Bush administration.
In the meantime, it is the duty of business leaders around the world to contribute by adopting clean technologies and developing strategies to cut back on their companies’ emissions.