Global warming is one of the most severe and rigorous issues which is negatively impacting the entire global world. The continuously rising emissions of the greenhouse gases are posing a great threat of irreversible consequences. To manage and overcome the threat of global warming, there is a need to have a shared effort that holds involvement of businesses as well as government at the primary stage (Epstein and Buhovac, 2014). The paper will weigh upon the government interventions and well as upon the business practices in order to correct or at least minimize the dangerous environmental impacts of the business activities.
Responses to climate change by government and business
The business activities as well as the global warming have a huge impact upon the climate and that result in extreme climate change. The various data and reports pointed the production and manufacturing processes of the businesses as the key participant behind the climate change and environmental disruption. But on the other hand there are several initiatives and practices initiated by these businesses as well as the governments to mitigate the negative impacts of these climatic change conditions (Lyons, Westoby and Nel, 2017). The businesses and the government have started implementing the clean technologies in order to mitigate the negative impacts of climate change. There are five key segments on which there is key focus and intervention of the businesses and the government to mitigate the impacts of global warming and climate change. These five factors comprises of sustainability reporting, waste minimization and conversion of waste into energy, water recycling, renewable energy and energy efficiency and awareness regarding climate change (Lewis, et al., 2017).
There is a vital intervention of Government in mitigating the risks such as to overcome the climatic change, the Government on a continuous basis have campaigns where the members receive adequate training to take use of the technologies developed for the climate change mitigation as well as make them aware regarding the low carbon pathways which can be used by the organizations and the individuals for managing their business operations. Other business and government interventions to have sustainable reporting where all the companies are required to have proper reporting regarding the impacts posed on the sustainability of the environment. There are also strong initiatives taken by the government in order to attain energy efficiency as well as maximum use of renewable energy. UNFCC i.e. The United Nations Framework Convention on Climate Change has been established to accomplish the key objective of saving and preventing the environment from the hazardous anthropogenic interference (Amran, ET AL., 2016). For this, there is an initiative of stabilizing the Greenhouse Gas concentrations in the atmosphere at a particular level where there can be easy adaptation by the ecosystems to the climate changes in a natural manner. With such stabilizer there is no threat to the food production as well as there can also be proceeded the economic development in a sustainable way. Another key intervention of the Government to mitigate climate change impact is by providing implicit price of carbon so that there can be develop incentives for the manufactures and the producers and thus the consumers can have their interest in buying the products which are made up of low-GHG. The policies developed for this purpose comprises of government regulation, funding and economic instruments. Therefore with such initiative of government regarding effective carbon-price may result in mitigation potential among all the industrial sectors (Hulme, 2014).
The other contributions and initiatives of Government includes standard setting, tax credits, financial contributions and market creation as it is significant for deployment, innovation and technology development in order to have sustain business operations. With the help of Clean Development Mechanism Projects there must be financial flows to various developing nations where due to lack of investments have production of those products that are high in GHG emissions (Aghion, et al., 2014). Once the government invests an increased amount of capital in Research and Development, there can be achieved better access to the innovative practices for mitigating the impacts of global warming and climate change. There are positive impacts of the government interventions as well as the business practices on the mitigation of the impacts of global warming and climate change (Konrad and Thum, 2014). But still there are left loop holes that show that there is still an extensive need to manage the aftermaths of these climate changes and global warming issue as there are various regions that are suffering much from the negative implications of these factors across the globe. The businesses are required to have much consideration regarding the selection of manufacturing processes and procedures as well as work upon energy efficient tools and renewable energy sources so atht there is no wastage of energy and also have reduced GHG emissions. The Governments are also required to pay adequate subsidies to the small scale business organisations so that they can also have efficient use of renewable energy processes and can save the environment from getting unsustainable (Sullivan, 2017).
From this paper, it can be concluded that there are extreme threats of global warming and climate changes that is slowly and gradually killing the sustainability of the environment as well as posing immense threats on the lives of the masses. But the businesses and the governments are taking potential initiatives to overcome the threat of these climate changes. Thus, it can be concluded that with the initiatives and innovative steps as discussed in the paper, there can be attained correction or minimization of such environmental issues. Thus, it is stated that with the shared efforts of the businesses and strong initiatives of Government there can be positive signs in minimizing the impacts of climate change and for overcoming the nations from the impacts of global warming.
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