Business Response to Climate Change Assignment Example | Topics and Well Written Essays - 2250 words - 1

Business Response to Climate Change - Assignment Example However, the physical impact of climate change and opportunities and risk associated with it are incorporated by fewer businesses in their planning (Britton, 1997). Once the climatic trends become clear and the reduction in uncertainty surrounding the future changes is observed, business then will be in a better position to decide that weather actions should be taken on the projected changes now or not. This decision by businesses helps them in turn to develop effect business strategy to for proper risk mitigation as well as taking advantage of the opportunities arising from the changes. However for many businesses, climate change can be a new or probably scary topic to discuss (Britton, 1999). This challenge is composed of variety of projections which may include temperature change, change in patterns of precipitation, other events and many other effects. In this essay we will discuss and will outline the sensible approach that can be used by businesses to analyze and adapt to the physical risks of climate changes and to take advantage of opportunities arising. A few of the physical changes associated with climate changes do not only bring risk but can provide the opportunities as well. For example, in some location disruption to location sites can be faced by the construction industry. They may further face problems in delivering materials to those locations as an extreme event and may damage the infrastructure. Workers can be restricted to work in limited amount of time, in tasks like roofing, due to the higher temperature. On the other hand this industry may get benefited by the opportunities like frost as it may reduce work stoppage hence the portion of year in which construction takes place can be easily extended. New products market can be created by adaptation, like climate proofing materials and building designs, or may result in shifts of market; this can be done by making materials that is locally sourced more attractive in order to