Emily Clarke

What Are Climate-Change Business Risks?

Although climate change is usually a matter of environmental importance, business owners who work with carbon-emitting equipment need to understand the business risks of climate change as well. There are several potential impacts that climate change and matters about emissions can have on a business, including:

Fines, Fees, and Penalties

One of the biggest concerns business owners face in terms of climate change is the potential for fines and fees associated with emissions. While there is no federal law regarding emissions, many states do have regulations on the books regarding emission standards. California is a famous example, but most states have some type of environmental legislation that needs to be factored into emissions measurement. The Environmental Protection Agency (EPA) also has regulations that most industries adhere to, and failure to adhere to EPA guidelines could result in penalties.

Brand Reputation

A business owner who doesn't take climate change and environmental safety seriously may also be at risk of jeopardizing a business' reputation. Many people are conscious of the effect of pollutants and carbon emissions on the planet these days, and customers often want to do business with companies that support a healthy environment for all.

If you don't take climate change seriously, you may risk alienating some customers and harming your company's reputation. This doesn't necessarily mean that you need to go out of your way to tout the fact that your business is aware of climate change, but it does mean that you should do everything to prevent giving the impression that your company doesn't care.

Actual Environmental Damage

Business owners who aren't engaged in emissions measurement also run the risk of causing actual harm to their communities. This can lead to all kinds of unforeseen consequences that may lead to communities experiencing declining health, economic uncertainty, and higher taxes for cleanup efforts.

Causing harm to the environment may also tie into the first two concerns mentioned above, as fines and penalties often result from causing environmental harm. If your business is publicly identified as one that pollutes the environment, the damage to your company's reputation could be drastic.

Author Resource:-

Emily Clarke is providing info about a single platform for your oil and gas software solutions. You can find her thoughts at cloud based energy software blog.