Discuss the challenges that global warming presents to both Essay - 1

Discuss the challenges that global warming presents to both governments and business - Essay Example These businesses include those reliant on fossil fuels in production or others that produce products that are the source of carbon emissions themselves. However, since everything comes at a cost, businesses are reluctant to combat the challenges that are bringing climate change. Climate change in general has affected businesses in all the industries regardless of their size. The primary reason for this assertion is the fact that the world is largely dependent on fossil fuels, the burning of which results in CO2 emissions, for its energy needs. Chief science adviser to Tony Blair, Sir David King believed that climate change has even greater threats than those posed by terrorism (Carey, 2004). The immediate reaction, as to what should we do in this regard, would be to develop alternatives for fossil fuels. What those alternatives are is then the challenge for businesses and governments to address. John Carey in his cover story for Bloomberg Business Week believes that the idea is to cu t down on usage of fossil fuels and to develop energy efficient vehicles and factories (Carey, 2004). The main contributor to greenhouse gas emissions however remains the energy sector. Surprisingly, and for the greater good, businesses adopting methods to address these concerns are thriving. Climate Group, an effort by companies and governments, helps to share stories of corporate success. Michael Northrop from the Climate Group says, "It's impossible to find a company that has acted and has not found benefits" (Carey, 2004). Although evidence exists of the energy sector benefitting from changes, the challenge exists in changing the dimensions of the industry to accommodate environmentally friendly substitutes to fossil fuels. Many companies are however reluctant to invest the appropriate amount of both time and money to find the most viable alternatives to fossil fuels. Oil companies have been primarily responsible for greenhouse gas emissions and have allegedly failed to restrict their contribution in the name of profit (Monteleone, pp. 144-154, 2007). Thus, it then poses a question to governments as to what should policy be aimed at. The answer is not that simple as even that comes at cost. Limits on pollution in the form tradable permits are being sought as a solution by the EU and the US in an attempt to curb greenhouse emissions. CEO of Xcel Energy Inc. Mr Wayne H. Brunetti says that one solution would be to give the companies the chance to figure out a solution and to allow them to set goals for 50 years down the road. He also stresses on the need for flexibility and the need for cooperation between institutions (Carey, 2004). The concerns of governments and environmental activists however are not restricted to the energy sector. Intel Corporation, the world’s largest chipmaker has been under scrutiny for its contribution to climate change. The challenge then again for businesses is to look for substitutes.  Intel’s Stephen Harper says that the search for alternatives is still on and they are planning to find solutions to the growing concerns about climate change (Carey, 2004). Surprising enough is the contribution of animal farms to the greenhouse process. The contributions made by the animal agricultural sector to greenhouse gas em