BusinessFinancial Planning

Canadian Business: Business Leaders On Climate Change

Irfan Ameer
Irfan Ameer
6 Min Read

Canadian Business is currently rising with every passing day. However with it, climate change is also posing a major threat to several business leaders. Various statements have been circulating online and every passing day is a reminder that to have a successful Canadian Business firm running in the Canadian economy, one needs to take care of the climate too.

Contents
Why are Canadian Business Terrified of Climate Change?What do Canadian Business Owners State about the Climate Change?Steps Required to be Sustainable for Canadian BusinessConclusion

This is because the climate and its running is important in the long run. Plus, if a Canadian Business needs to thrive, it must not do so at the expense of the climate. Furthermore, the increasing climate change is also bringing forward a huge threat to many forms of Canadian Business. Thus, taking care of it and implementing steps is important.

Why are Canadian Business Terrified of Climate Change?

Canadian Business and its firm owners are very terrified of climate change. This is because it is known to adverself effect the operations of the Canadian Business. Thus, go through the given points and look into it thoroughly. This will help you gain an added insight too:

a.The extreme weather can damage the infrastructure and thus, raise operational costs.

b.Rising the insurance premiums make coverage very more expensive and much harder to obtain.

c. The new environmental regulations can increase compliance costs.

d. Ignoring the rate of climate change can damage a company’s reputation and erode consumer trust.

e. The market demand for sustainable products requires businesses to adapt or lose market share.

f. Resource scarcity, like that of water, can drive up costs and disrupt production.

g. Investors focus on the ESG criteria, thus pushing companies to align with environmental goals.

h. The extreme weather events can disrupt operations and incur high costs.

i. The climate impacts on employee health can reduce productivity and increase health costs.

j. Global market competitiveness requires a lot of adaptation to climate responsibility.

What do Canadian Business Owners State about the Climate Change?

The owners are mostly worried about climate change. They have stated how it is a great topic of worrying because climate change can adversely affect business’. Starting from the infrastructure to everything in association to it, climate change can adversely affect people and the surrounding environment too.

However, certain business firms and its owners in Canada have expressed their hope towards the larger authorities to look into the matter. On top of that, it has also come to place that certain executives are experiencing significant pressure from various stakeholders. These can include people such as board members, investors, and government regulators to take action on climate change.

Still certain executives have mentioned how they feel less pressure from their customers to act on climate change. This is as compared to that was brought forward in the previous years. Only 39 per cent of CEOs said their customers or clients pressure them to do better on the subject of sustainability. This record is that of comparison which was brought out too be 58 per cent last year.

Steps Required to be Sustainable for Canadian Business

Sustainability is very important and although not many firms have emphasized on this, it is still an important topic and one needs to
work on that. Thus, follow the steps given below:

a. Reduce waste
Emphasize the rate of recycling and composting to minimize landfill contributions.

b. Conserve energy
Adopt renewable energy sources like that of solar or wind.

c. Promote sustainable agriculture
You should support local and organic farming practices.

d. Enhance public transportation
You must invest in efficient and eco-friendly transit systems.

e. Support green buildings
Use energy-efficient materials and design in the mode of construction.

f. Preserve natural habitats
Protect the ecosystems and wildlife through conservation efforts.

g. Encourage water conservation
Implement the techniques to reduce the water usage and pollution.

h. Advocate for policy changes
Strive in to push for regulations that support environmental sustainability.

i. Foster education
You must raise awareness about sustainable practices and their benefits.

j. Adopt circular economy principles
Design the products and systems to minimize waste and maximize resource efficiency.

Conclusion

Thus, this is all you need to do if you are planning to or have a Canadian business. Adding in the ethics of what sustainability is to your firm will help you achieve your goal and also, do good in the long run. This action of yours will help in making the climate better and thus, be more rewarding for your firm.

TAGGED: , , , , , , , , , , , , , , , , , , , , , ,
Share This Article
669 Comments
Lost your password?