Norvergence – Climate change is an impending crisis, looming large, jeopardizing humanity’s survival. It is palpable that the recent turn of events 一 floods, forest fires, droughts, and other unexpected events are a precursor to more devastating outcomes.
Unfortunately, there are no vaccines for climate change.
The draconian crisis has caught traction of late 一 battling climate change is the new imperative that all stakeholders involved can’t ignore.
Norvergence – Nevertheless, it also presents an opportunity for business practices that can reshape the future. Moreover, action against climate change is gaining traction and business processes will see a noticeable shift in an attempt to take responsible tangible action, and build a brand around an emotive topic that is instilling a fear factor of an impending catastrophe.
In this article read more about how businesses shift towards more responsible production and what it means for all the stakeholders involved?
The manufacturing sector
It is predicted that despite all countermeasures, global warming will see a 1.50 rise by 2030. This effectively means that global warming is proceeding at an unprecedented rate.
With every small change, extreme climate events will continue to take place. The world is on the brink of drastic occurrences as damage to the environment is irreversible to an extent.
Short-term business gains are increasingly seen as counterproductive to the overall vision of businesses.
The manufacturing sector is moving towards production with a minimum carbon footprint. This augurs well for the long-term goals and vision of businesses.
Governments around the world will continue to tighten the noose with laws and regulations to curb industrial emissions, especially the ones that fall in the spotlight.
For instance, stricter emission norms around the globe continue to warrant innovations and flow of research and development from automobile manufacturers towards making vehicles that can pass emission regulations of the laws.
Norvergence – Investment firms are increasingly recognizing the need and growing imperative of climate change action. The palpably growing public sentiment against climate change malpractices will reshape the manufacturing sector.
There is a noticeable shift in investments towards greener alternatives and innovative business plans that can bring about requisite changes.
Renewable sources of energy are also gaining momentum as lucrative investment opportunities for investors.
In all likelihood, the future for manufacturers that cannot adapt to this change looks bleak.
Slowly, steadily, but surely, the world is witnessing a shift in manufacturing practices as sustainability gains traction as an imperative that can save the future of humanity.
Growing public sentiment, changing government regulations continue to be the drivers that are bringing about this palpable shift.
Likewise, investors look to adjust priorities to focus more on green initiatives. Businesses recognize this and are adapting. For those who don’t, long-term vision needs a reassessment.