Risky Business Essay

Global warming has become an undisputed fact about our current livelihoods; our planet is warming up and we are definitely part of the problem. However, this isn’t the only environmental problem that we should be concerned about. All across the world,

Climate change is not a new concept. It has been mostly referred to as global warming in the past. As much as people would like to file this issue away as something to deal with at a later date, it simply cannot wait. This problem we face is costing us billions of dollars, forests and wildlife are being eliminated, and people are dying. Starting to sound like a big deal, right? Future generations will be affected the most. People who do not even exist will have to pay for what we, all people, have done to this earth. To begin to make changes, one must realize the severity of the issue. Bill Mckibben, author of “Recalculating the Climate Math,” conveys that “We’ve already raised the world’s temperature by one degree—enough to melt almost half the ice in the Arctic, kill off huge swaths of the world’s coral, and unleash lethal floods and drought. July and August tied for the hottest months ever recorded on our planet, and scientists think they were almost certainly the hottest in the history of human civilization” (Page 3 of 5). Global climate change is a serious problem because it increases natural disasters and is the cause of extreme weather.

The world economy is a very complex system; in the system harmful externalities disrupt capital flows and determine economic productivity. Most notable of these externalities is inadvertent global warming. Spending towards research and regulation of climate change at both the national and international level are very important in determining current and future business trends. Economists and scientists worldwide continuously debate the pros and cons of emissions reduction and what consequences can quickly follow. Though many have different views on the issue, all can agree that the immediate and long term effects of climate change have become an economic matter of paramount importance. The sweeping impact from climate change will have important fiscal, financial, and macroeconomic ramifications that influence global commerce standards.

Climate change has been a subject of discussion in the media for many years, supported with the use of arguments against oil polluting the environment and extreme scare tactics of Polar ice caps flooding civilians backyards. The issue has been ignored by the majority of lay people as seeming too complicated, and with all the conflicting information in the media in the past, who can blame them? However, scientifically, climate change and what perpetrates it is fairly simple to understand and society as a whole is beginning to come to a clear consensus on climate change. Thanks in part to more readily available forms of media and information, people have become cognizant of the fact that climate change is a legitimate problem which requires immediate amelioration. While this may seem melodramatic, society is realizing that climate change is an issue which can no longer be denied if the human race wishes to continue.

The overall home value decreases because of the higher occurrence of inclement weather caused by global climate change. Coastal property value is abating due to the rising sea levels caused by global warming. In low-lying areas, the anticipated sea level rise could force water to flow horizontally as much as 400 feet or more inland -- flooding many shoreline homes and hotels and eroding Florida's famous beaches (Fiedler 2001). Coastal homes are not the only homes at risk of developing a lower value. Global warming is creating problems associated with an increase in drought and forest fires. Homes located in the multiple mountain ranges that span across the United States and in the drier locations around the world are in the danger area when it comes to these climate change related disasters. The frequency of wildfires can be attributed to many factors caused by global warming. According to Staudt (2008), “Summertime temperatures in western North America are projected to be 3.6 to 9 degrees Fahrenheit higher by mid-century, enhancing evaporation rates, while precipitation is expected to decrease by up to 15 percent.” The drier conditions increase the contingency of fire occurrence. The damage brought on by an increase of forest fires causes the home value of mountain homes located in these areas to drop. If the heat continues to rise the projected 2.9 degrees fahrenheit due

This New York Times Bestseller is very informative and influential which was imperative because most of our population does not understand the significance of climate change and our world dying out. With the knowledge and help of several other

With the rise of calamitous news regarding extremists groups taking over certain states, countries threatening to go to war, and viruses spreading throughout the world; the outlook of humanity does not look good. In addition to these dire headlines is the matter of climate change, which, unfortunately, is not as alarming to the public eye. Nonetheless, climate change is a pressing matter as it will impact every facet of society from economy to even human survival. Perhaps the general public find climate change as a vapid subject because of its nature to react belatedly to human activity, and how it is often represented with numbers, graphs, and projections; things that are not compelling to those that do not understand its importance. Even

Launching a high risk/ high return business is not a simple process. There are several key factors and criteria that need to be met in order for your venture to have a chance. Ignoring them would most likely result in complete failure, and this is why a large number of startups fail in their early stages. This simulation is meant to help me identify the key pitfalls and factors of success.

We have all heard statistics over how unmitigated global warming can lead to rising sea levels, increased temperatures, lower rates of precipitation. The Congressional Budget Office recently found that climate change, if unmitigated, would create costly damage not only to the United States’s economy, but also to the world as a whole (source). Despite a scientific and general consensus that climate change is real and a problem, actual committed action against climate change has been disappointingly slow, until recently. We also know the cause of climate change. The United States EPA finds that “Carbon dioxide accounts for most of the nation’s emissions and most of the increase since 1990” (EPA). What we don’t know is a solution.

It is becoming increasingly certain that climate change will have severe adverse effects on the environment in years to come. Addressing this issue poses a serious challenge for policy makers. How we choose to respond to the threat of global warming is not simply a political issue. It is also an economic issue and an ethical one. Responsible, effective climate change policy requires consideration of a number of complex factors, including weighing the costs of implementing climate change policies against the benefits of more environmentally sustainable practices. Furthermore, this analysis must take place amidst serious gaps in the existing research and technology concerning the developing climatic condition.

Difficult to define, ethical responsibility is the ability to recognize, interpret and act upon multiple principles and values according to the standards within a given field and/or context (Investopedia LLC., 2015). Social responsibility is the concept that businesses develop a positive relationship to the society and environment, which they operate; and not focus, solely on maximizing profits (Stan Mack, 2015).

The first argument examined on the man-made global warning side is that increasing greenhouse gases caused by human activities is causing directly observed climate changes. The first resulting climate change discussed is warming global surface temperature. There has been an increase in global surface temperature of 0.74 degrees C since the late 19th century. In the last 50 years alone the temperature has increased by 0.13 degrees C per decade. North America and Eurasia have seen the largest increase in warmth. However, some areas of the earth have actually cooled some this past century (Easterling & Karl, 2011, para6). After the mid 20th century 70% of the global land mass saw reduced diurnal temperatures. From 1979 to 2005 the maximum and minimum temperatures have shown no change; both indicate warming (Easterling & Karl, 2011, para10). Furthermore, borehole temperatures, snow cover, and glacier recession data all seem to agree with recent warming (Easterling & Karl, 2011, para11).

Climate change is difficult to communicate by its very nature. Greenhouse gases are invisible, and their accumulating effects (e.g., global warming, precipitation changes, and extreme weather events) can take years before they are felt. Worldwide warming trends are hard for the average person to detect amidst the variability of everyday weather and the causes are far removed, in both time and space, from the impacts. Climate change is thus an example of “hidden hazards”—risks that, despite potentially serious consequences for society, generally pass unnoticed or unheeded until they reach disaster proportions (Kasperson and Kasperson, 1991).

They looked at two scenarios, inaction, where business’ continue finding and using carbon as they see fit, and action, where business’ use a low-carbon energy mix. They found that not only would the investment cost of the action scenario be no more than inaction, but it would even cost a bit less- 190.2 trillion dollars for action and 192 trillion dollars for inaction. This is before even considering the amount of money saved by the effects of the action scenario itself. The report found that, “the difference in climate damage costs between low (1.5°C) warming and high (4.5°C) warming scenarios could be as high as $50 trillion” (Business Insider). The effect of such a large economic company reporting this data is the perfect example of how using economics for the sake of reversing global warming can be really beneficial. The argument often used by economists is that becoming more sustainable would hurt the economy, but the data in this report proves just the opposite, and how terrible it would be if we did nothing. For the sake of investment in industry’s like coal and gas, this information is often denied. But this is not anywhere near the first time industry’s have had to adapt due to uncontrollable events. This report emphasizes the importance of recognizing

Within the past few decades, there has been no political or public discussion as heated and controversial as the debate over climate change. Climate disputes can be traced back all the way to 1837, when Louis Agassiz proposed a theory claiming that Switzerland had once been covered with large ice sheets, and have become a big part of the international scientific community since then (Archer and Rahmstorf 2010). Today, climate change is not only a scientific issue, but it has grown into an economic and political issue as well. The rising amount of carbon dioxide in the atmosphere, most of which has been added through human activities, has caused a climb in the average temperatures around the planet. This can have huge effects on the future