Climate change will significantly harm some of the business industries. The effect of climate change will be inevitable. In this article, We will discuss five businesses that can be affected by climate change.
1. Agriculture business
Agriculture businesses can be affected by climate change as the frequency of natural calamities has started to increase. Because of climate change, the rain pattern is changing. Floods and droughts have begun to occur more frequently. These have severely affected the agriculture business. In the future, agriculture will face more challenges.
2. Tourism business
It is estimated that some countries will be severely affected by climate change. It can affect their tourism business. For example, rising temperatures in the Caribbean cause coral to bleach. In addition, most Maldivian islands will go underwater in the next thirty to forty years. Rising temperatures and increased natural calamities can also affect wildlife. Some species may go extinct because of the changing weather pattern.
Moreover, the snow is starting to melt faster than ever. As a result, the scope of snow skating is decreasing. All of these harms the tourism industry. It can also affect the hotel business, airline business, and other tourism depending business on these countries.
3. Fishing business
The fishing industry will be severely affected by climate change. As the water temperature increases, the oxygen level in the ocean decreases. The ecosystem of the sea is greatly affected by climate change. Some of the fishes will lose their habitats gradually. Another effect of climate change is ocean acidification which can affect species in the ocean.
4. Traditional energy-producing business
As fossil fuels harm the environment, it is estimated that the rules for using fossil fuels will be getting strict. The strict regulations harm the energy business. As a result, the cost of gas, lucrative oils, and coal industries will rise.
5. Insurance business
Even the insurance business can be affected by climate change. Because of climate changes, the sea level is rising, and unexpected natural calamities are increasing. As a result, many companies will face losses because of the increased number of natural disasters. It is alarming news for insurance companies.