How does environmental issues affect business

Throughout the world, leaders are pledging to reduce those emissions that insulate the earth and accelerate climate change. If you own a delivery business, for example, you may face replacement of your fleet with hybrid or electric vehicles to reduce carbon emissions. If you are in manufacturing, you may have to retrofit your machinery to comply with stricter environmental regulations. For more ideas on making your business greener, you should read our post on 9 must-have products to go green at work.

It projects that the cost of water for the nation will near the trillion dollar mark by the year , an over four-fold increase compared to today. The expense of real estate losses will multiply by a factor of 10 and storm damage by a factor of Top environmental factors that will affect your business include storms, loss of resources, inflation, and scarcity of food and water. These economic concerns are likely to be secondary to the risks to human health.

As NRDC states, the longer people wait to address these factors, the more expensive a final solution will be — for the economy, for society and for the earth itself. Your email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed.

Demographic Displacement Rising sea levels are one of the top environmental factors that threaten business as usual. Inflation Direct and indirect increases in the cost of food and goods typically follow supply shortages , and inflation affects all aspects of the economy.

How your company addresses environmental issues affects the turnout of your business. In , Hurricane Katrina, the costliest and one of the deadliest natural disasters in the history of United States, struck Louisiana, Florida, Mississippi, Alabama, Georgia and other U.

It prompted a gas and oil shortage, disrupted air travel and caused big damage to insurers. Due to high energy prices, companies spent less for hiring. It was a big blow to the U. As a business owner, you must recognize the need to be prepared for such events, whether they may affect you directly, your suppliers or your customers. According to the U. Talk to your local chamber of commerce or Small Business Administration SBA office to determine which regulations your company must comply with to avoid potential adverse actions such as fines or imposed closure for infractions.

Employees perform better when they are happy and healthy. Looking at your employees' work environment is important when creating a positive company culture. Most employers don't have issues with providing a healthy work environment to employees and follow the regulations without incident. However, business owners should remain tuned in to current events and how they affect employees. For example, if your crew is working outside, you may only be required to grant a minute break every four hours by OSHA standards.

However, if the temperatures are extreme, giving employees more frequent breaks can limit injuries and keep productivity high. Instead, businesses can reduce the amount of waste that they produce, which reduces costs and means that there is less waste to dispose of. Many businesses also look for ways in which waste materials can be reused. Being environmentally friendly can bring a number of benefits.

For example:. For a business, there may also be disadvantages to being environmentally friendly. How environmental considerations influence business activity Any business activity will have an impact upon the environment , either through the natural resources that it uses or the waste products that it produces.

Climate change Climate change refers to long-term changes to weather patterns. Pollution Pollution commonly refers to the contamination of air or water with harmful chemicals.