Saturday, August 1, 2015

Climate Change Is Now Its Own Industry

Interest in climate change has become a powerful economic driver, even to the point that it has become its own industry, whose growth is driven in large part by policy-making. From 2005-2008, the "climate change industry" grew between 17 and 24 percent annually, steadily growing into the $1.5 trillion industry it is today.

One big segment of the industry is made up of climate change consulting firms. The environmental consulting industry had billings of $600 million in 1976, but today generates $27 billion.

The industry is expected to double within the next few years, mostly due to the ever increasing government regulations and policies. Companies will be spending more and more money to adapt not only to the changing policies, but also to the changing climate. Companies will focus on growing economically and environmentally.

Not only are corporations beginning to recognize the potential impacts of the changing climate on their supply chains, but they are also beginning to show concern about reputation impacts. They don't want to be caught buying its products or supplies from a far-flung company that's considered a "gross polluter".

We can all apply what's going on in this industry and apply it to ourselves and our own lives. We can buy stuff locally, cutting down on the carbon emissions spent getting it to you. We can all adapt, just like all these corporations are, and we don't have to pay some consulting firm millions to tell us how.

If you haven't taken our new survey yet, please do so: http://t.co/n4nmcLyuAS

More in-depth reading:
http://www.insurancejournal.com/news/national/2015/07/30/377086.htm

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