Climate Change in Australia and its effect on Businesses


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Climate Change in Australia and its effect on Businesses. Climate change is a major concern, not only in Australia, but in the whole world.  The main contributor to climate change is global warming which is caused by the release of greenhouse gases, and two thirds of greenhouse gas emissions is contributed by a small percentage of companies. In Australia, there are many businesses, which contribute to greenhouse gases such bas agriculture, mining, transport, and manufacturing. However, this paper focuses on the transport industry because it contributes significantly to greenhouse gas emission and hence changes in climate. Such business should be responsible by instituting measures to reduce emission of green-house gases if the world is to mitigate the climate change phenomenon. Climate Change in Australia and its effect on Businesses. 

Two problems have been addressed in this paper; climate change has been rampant in Australia especially with increased temperature and low rainfall volumes and businesses contribute significantly to climate change in Australia through emission of greenhouse gases. Therefore, businesses should work closely with the Australian government and other regulatory authorities to monitor their operations in meeting the greenhouse gases emission standards as agreed in various global agreements like Kyoto Protocol, and standards set by the Australian government. In addition, businesses should realize that they are also directly affected by climate change because any negative effects on their target consumers also affect their profitability.

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This study has offered more insight on climate change in Australia and its impacts on the lives of people in the area. This study has indicated that climate change in the country is a great concern because it may result in increased migration of people from the severely hit areas and hence negatively affecting the country’s economy. This study has deduced that the Australian transport industry contributes significantly to increased emissions of greenhouse gases. Therefore, to solve these problems, the government should enforce the existing policies to ensure that companies contribute in reducing greenhouse gas emissions. Additionally, companies especially in the transport industry should be more innovative in coming up with new and advanced technologies to design and develop more efficient engines in the light vehicles. Climate Change in Australia and its effect on Businesses.

References

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Australian Government. (2016). Trends: Transport and Australia’s development to 2040 and beyond.” Australian Government 4-50

Australian Government. (2017). The Australian government’s action on climate change. Australian Government 3-41. Climate Change in Australia and its effect on Businesses.

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Climate Council. (2015). The burning issue: Climate change and the Australian bushfire threat. Climate Council 5-38

Demertzidis, N., Tsalis, T., Loupa, G. & Nikolaou, I. (2015). A benchmarking framework to evaluate business climate change risks: A practical tool suitable for investors decision making process. Climate Risk Management, 10(1), 95-105

Doherty, B. & Slezak, M. (2016). Australia faces potentially disastrous consequences of climate change, inquiry told. The Guardian. Retrieved on October 9, 2017 from: https://www.theguardian.com/environment/2017/aug/11/australia-potentially-disastrous-consequences-of-climate-change-inquiry-told

Thompson, G. (2011). Australia’s greenhouse gas emissions. Sydney: Willey. Climate Change in Australia and its effect on Businesses.