Naperville Business Lawyer Discusses the Impact of Climate Change

climate change, Naperville business law attorneyWhen you own a business, there are many different factors that can affect your company’s profitability and sustainability. Some may be internal, such as employee morale and productivity, while others are external, such as commodity prices and consumer spending patterns. One factor, in particular, is beginning to have an effect on companies of all sizes, but its full impact remains to be seen in many industries. As a business law attorney, I have already seen a number of companies institute substantial changes as a direct result of climate change.

A Dire Prediction

In a recent report by Business Insider, a concerning prediction was made. Cacao plants, the plants which provide the raw ingredients for chocolate, may disappear by the year 2050 due to climate change. For the Mars, Inc. company, this reality could be devastating to their business. In response, Mars, the makers of such favorites as Snickers and M&M’s, is taking action.

The candy company is teaming up with scientists from the University of California at Berkeley to save the cacao plant. Berkeley researchers plan to use the gene-editing technology CRISPR to redesign the plant. By changing its DNA, scientists will hopefully be able to make the plant more resilient to changing climate conditions. Mars has pledged an impressive $1 billion toward reducing its carbon footprint in an effort to help slow climate change. Part of this money will now be put to use by genetic engineers in an attempt to save the cacao plant.

Climate Change a Concern for Small Businesses

Climate changes does not only affect huge corporations like Mars. Small businesses are also affected by climate change. For example, unstable weather patterns can cause many different types of crops to fail. This lowers the supply of crops, causing small business owners to pay more for plant and animal products. Most scientists also agree that climate change is causing natural disasters to become more frequent. This means that businesses may have to deal with problems caused by snow storms, hurricanes, tornadoes, and floods. A higher incidence of natural disasters will also increase the cost of insurance.

The silver lining of the damage being caused by climate change is that there are steps that businesses can take to improve their situation. Many businesses, like the Mars candy company, are making a commitment to lower their carbon footprint. This can include taking steps such as installing more energy-efficient light bulbs or automated heating and cooling technology, using fewer physical resources, or starting a company recycling program. Taking steps to be more sustainable saves money and lessens the burden placed on the environment. Not only are “green” businesses doing their part to help slow climate change, but they are also showing their customers that they have integrity. Addressing climate change as a small business can attract customers who are also environmentally-conscious.

Knowledgeable, Dedicated Business Law Attorneys

If you own a business and want to learn more about how your business can be successful despite a changing environment, an experienced Naperville business attorney may be able to help. Contact The Gierach Law Firm for a confidential consultation today.

 

Sources:

Business Insider

USA Today

Newsweek