The aim of this report is to discuss the effect of global warming in the activities of business in the global context and how this issue has been affecting the companies to follow some of the very important measures to attain sustainability in the development process. The issues of global warming have become one of the most threatening issues in the business world as this is closely related to the human beings and their atmosphere around them. this significance of global warming is far reaching and gradually influencing the ecosystem and weather patterns of the world. Some of the animal and plant species have been destroyed in the course of climate change due to global warming (Nowack et al., 2015). The reasons of global warming are however associated with the processes of business such as increased carbon and other greenhouse gasses emission from the factories, thermal power plants, transportation companies and other carbon emitting alliances (Crutzen et al., 2015). These are contributing in increasing global warming by increasing air pollution level and led to affect the iceberg in Antarctica.
Thesis statement: The international companies are facing growing pressure from communities, government, stakeholders and consumers for more action on the global warming issues so that they can implement sustainable development rather than only focusing on the profit-making procedure.
The effects of global warming are also alarming the business leaders around the world as they are also feeling the immense pressure in getting their raw materials as well as in their production methods due to global warming. All the scientific experts as well as environmentalists, have started to believe that the human activities especially the companies around the world are altering the climate of the earth. Therefore, steps must be taken immediately to avert the future catastrophe (Baer & Singer, 2016). The dangerous effects of global warming are not only limited to the forest industries in collecting and managing the raw materials but this is also affecting the construction and food industries. As the forest industry of the world largely depends upon the natural resources, it is dependent upon the favorable weather conditions. Due to global warming the climate of the regions is being changed with enhancing risks of forest fires, growth of the forests and increasing rainfall in the places (Azapagic et al., 2016). These affect the industrial process of the industry damaging the normal process of collecting raw materials for using in the industry as well as supplying them for further processing.
Unlike the forest industry, the issues of global warming are also affecting the food industries around the world in various ways. Most of the raw material in the food industry of Australia largely depend upon the agricultural sector that depends upon the climate and weather but due to global warming, the extreme weather is increasing unavailability of grins and other needed food products that cater the needs of the food industry of the world (Baer & Singer, 2016). The issues of global warming are also affecting the construction industry as increasing rainfall and other extreme weather conditions are manipulating the construction plans and process of the places. Therefore, the companies around the world are taking actions to mitigate such issues.
There are several studies in this subject of global warming and sustainability measure of the global companies so that they can mitigate the requirements of the stakeholders and ensure a sustainable growth on the fly supporting environment with needed raw materials to carry on production process. The global business as seen to be the chief actor in the global warming process, is under tremendous pressure of the communities, government, stakeholders and consumers so that it takes more active participating in implementing sustainable development. According to Tubiello et al. (2015), the agricultural sector also contributes the greenhouse gas emission in the atmosphere but the amount of such gases though factories is much higher. This study therefore, suggests that more efforts and resources need to be directed so that further options can be explored to mitigate such issues. As pointed out by Baer and Singer (2016), green capitalism has become an attractive term in the business process today. Eco-capitalism is the view that the capital exists in nature as natural capital on which the wealth depends. This is the reason why the market-based government policies like carbon tax must be used to resolve all the environment problems due to factories and uncontrolled carbon emission. Wen, Siong and Noor (2015) has advocated that free markets can be both economically beneficial and environmentally protective. These authors have pointed out that the markets impact hugely affect the communities and economies of the country therefore, free markets emerged from green capitalism can be both advantageous to the economy in one hand and environmentally protective on the other. In order to make the business eco-friendlier, the business leaders therefore, need to understand the criteria of the stakeholders, communities related to the business (Azapagic et al., 2016).
Carbon capping is a policy that put price on the carbon emission through auctioning off the permits for emitting GHGs (Nowack et al., 2015). Through this, the companies actually solve the environmental problems in one hand and solve the dilemma with regards to the carbon prices. This is the reason why the governments of the vulnerable countries are increasing the price of carbon so that the companies can understand the capping and reduce the carbon foot print effectively. According to Wen, Siong and Noor (2015), buildings are the chief sources of over usage of energy therefore, the companies initiate to reduce energy usage in the buildings. This method protects the business from increased cost in one hand and enhance reputation in the most common certifications.
As mentioned by Epstein, (2018), mitigating the environmental issues comes under the corporate social responsibility of the companies. Hence, “the issue of whether companies should consider their social responsibility or the impact of their activities on their stakeholders is no longer up for discussion” (Epstein, 2018). In creating stakeholder value and management of the both the local as well as global enterprises have become central part. This is the reason why the management of the global business companies are feeling challenged to integrate environmental, corporate, social and economic facets in gaining business sustainability, develop them and implement them into the responsibility of the companies. As mentionjed by Kemper, Ballantine and Hall (2017), the belief of the stakeholders on global warming and its immediate needs are manipulating various aspects of the business around the world. These are also related with the sustainability values and attitudes of the companies to follow the government policies to reduce impact of global warming in one hand and reducing the reasons of global warming though reduction of carbon and greenhouse gas emission on the other hand. Through the survey conducted by these authors, it has been revealed that the perception of sustainability is largely grown around environmental domain that directly affect the beliefs of the consumers which manipulate the company’s reputation.
To Epstein, (2018), the sustainability of the firms mainly depends upon the paradox of simultaneously improving the social, environmental and financial performances. Therefore, the companies like Unilever that produces consumer goods depending upon the forest industry, Owens-Corning, a construction company, Fujitsu, an IT company and Ford Motor, a car company all are taking initiatives to manage the issues of lobal warming by limiting their production process. Unilever has initiated to use 100% renewable energy in its operations by 2030 by reducing per-production-ton carbon emission by 40% (Living, 2018). Owens-Corning on the other hand has invited to reduce GHG emission by 20% in 2020. In order to do so, the company has invited to invest blowing agent blend in manufacturing which will reduce emission intensity in one hand and develop more sustainable insulation product (Owenscorning.com 2018). Moreover, through operational changes the international md communication technology company Fujitsu has already achieved its emission target and brought more energy effect products in the market. By 2050, this company will be achieving top energy efficiency of more than 50% of all the products (Fujitsu.com 2018). Both the global brands of automobile industry, Nissan and Ford Motor Company have initiated changes in the policies so that the carbon footprint in the atmosphere can be reduced. Nissan, the Japanese car maker has begun to take initiatives to mitigate the environmental impact by 70% within 2050 (Nissan motor co 2018). On the other hand, Ford Motor Company has scored A in the water use system in the production process. this has taken various programs for reducing carbon footprint. It has partnership for the Cleaner Environment (PACE) with the tier 1 suppliers to increase water saving initiatives (Media.ford.com 2018).
To McGlade and Ekins (2015), in order to address global warming, the companies have taken steps to reduce the amount if heat trapping emissions that they are putting in the atmosphere. Therefore, the global companies are using technological advancement to reduce carbon emissions and footprint from the production process (Nowack et al., 2015). The expansion of renewable energy I the production process has been increased and the use of cleaner energy system is increased so that the companies can reduce their dependency on the coal and other fossil fuels. The government and communities are constantly imposing limits in the tropical deforestation with which the contraction, food and forest industry are associated (Crutzen et al., 2016). Therefore, there are changes in the policies of these companies to reduce deforestation and find newer processes or raw materials in their production. In addition to this, the companies are investing in using more efficient technology so that the problems of carbon emission can be reduced and they are approaching to transform their actions for building sustainable economy.
Conclusion:
Therefore, it can be concluded that the greenhouse gasses emitted from the factories are affecting the global weather and balance of the ecosystem. The reasons of global warming are mainly associated with increased carbon and other greenhouse gasses emitting from the factories, thermal power plants, transportation companies and other carbon emitting alliances. As mentioned before, the companies are increasingly getting alarmed by the loss of reputation due to inability in mitigating global warming issues through sustainability approaches. These are the reason why the companies in the present content are taking steps immediately to avert the future catastrophe. In order to cater the needs to of stakeholders in one hand and continue the business in a supportive environment more efforts and resources need to be directed so that further options can be explored to mitigate such issues. Through Eco-capitalism the companies can convince the management system to integrate policies in support of the sustainable strategy making. Free markets emerged from green capitalism or eco capitalism can be advantageous to the economy of the country and environmentally protective on the other.
Therefore, the companies around the world have started to generate actions to measure carbon footprint so that necessary strategies can be taken. Carbon capping is a policy that put price on the carbon emission through auctioning off the permits for emitting GHGs. The companies are reducing energy usage in the buildings. The industry sector is now ensuring that the new buildings are made energy efficient so that the goals for the reduction of carbon footprint can be achieved. The companies are also learning to adopt to the climate change so that they can arrange for the substitute raw materials for continuous production. In some cases, the companies are also investing for the renewables eliminating the usage of coal and other natural resources. However, these initiatives by the bigger industries have largely affected the thinking process of the small and medium industries and the issues have been managed through their CSR processes. Therefore, it can be concluded that the issue like global warming is a burning issue for which the global business is largely responsible. Hence the companies exploiting the natural resources are to take the responsibility to mitigate this issue otherwise the ecology of the earth will be completely ruined so also the lives of the human beings.
References:
Azapagic, A., Bore, J., Cheserek, B., Kamunya, S., & Elbehri, A. (2016). The global warming potential of production and consumption of Kenyan tea. Journal of Cleaner Production, 112, 4031-4040. Retrieved from https://www.sciencedirect.com/science/article/pii/S0959652615009099
Baer, H., & Singer, M. (2016). Global warming and the political ecology of health: Emerging crises and systemic solutions. Routledge. Retrieved from https://www.taylorfrancis.com/books/9781315428000
Crutzen, P. J., Mosier, A. R., Smith, K. A., & Winiwarter, W. (2016). N 2 O release from agro-biofuel production negates global warming reduction by replacing fossil fuels. In Paul J. Crutzen: A pioneer on atmospheric chemistry and climate change in the anthropocene (pp. 227-238). Springer, Cham. Retrieved from https://link.springer.com/chapter/10.1007/978-3-319-27460-7_12
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