The increase in climate change will harm the industry. These effects include an increase in flooding, hurricanes, and wildfires. Many big industries have no choice but to leave coastal areas where they can protect their assets from climate change. This is when companies take liability risks. This is stated by the Zurich article as “Liability risks arise from a failure to mitigate, adapt to, disclose, or comply with changing legal and regulatory expectations.” These risks are what make companies worried about their business. Having to change their business practices might hurt their revenue. The increase in greenhouse gases is increasing the warmer temperatures. This results in having longer warmer days and an increase in humidity. This causes many people to use their air conditioners to alleviate the increase in heat. This increases the use of energy and the use of fossil fuels to increase the production of energy.
Many tourists have felt the increase in climate change in the past couple of years. In big cities like New York City where the heat gets trapped, it has been increasingly unpleasant for tourists to walk around. In other cities, many people like to travel to places with tall buildings that allow sightseeing. But with the increase in pollution, not much can be seen from the height of the buildings. The different hindrances that climate change brings, makes decisions harder for those traveling about where to go and for how long. This also decreases profit in some parts of a city and affects industries.
Poor people are feeling climate change the most. They are unable to afford the use of an air conditioner for the heat. Greenhouse gases have a huge role in the increase of prices of many goods. One good that has been increasing for years is the food like meat and vegetables. There has been a decrease in the growth of crops, an increase of food needed to feed animals, and the use of more energy to transport goods. These are factors that the poor must deal with and also with the increase of greenhouse gases every year. It makes it hard on these people to live their daily lives.
Climate change has been playing a big role in our lives and it doesn’t seem to be slowing down yet. With government regulations and an increase in other energy uses, someday the increase of more environmentally friendly alternatives won’t impact our lives too much in the coming future.
References
https://climatechange.chicago.gov/climate-impacts/climate-impacts-agriculture-and-food-supply
image: https://www.oceansnorth.org/en/blog/2021/05/turning-up-the-heat-new-report-highlights-impacts-of-climate-change-on-commercial-fisheries-in-atlantic-canada-and-eastern-arctic/