By Nithiksha Elankeeran
Realistically the global population thinks climate change is the last issue to be discussed in terms of the commerce industry. The lack of acknowledgement of its impact would place our lives and the economy at a major risk. Today, the world is oriented around the basic needs and wants of the people, to survive, but the provision of such needs and wants requires a large scale of raw materials and other resources to manufacture those needs. These growing needs are increasing the temperatures of the atmosphere. Specifically around the years of 2020-2023, is when the world started to catch fire. Numerous wildfires, unstoppable floods, uncontrollable draughts and it goes on... Firstly, most of the raw materials are taken from agriculture pathways , converted into finished goods and then transported to our nations internationally. The root cause of the issue is the disruption of the above resources and events, due to the limitations of the supply flow of resources.
How? Mainly, varied precipitation patterns create vulnerability to the field crops and livestock mortality. For instance, in late 2022 flooding in the west due to changing precipitation patterns affected 1 million lives and made it a misery. The growing natural conflict across a multitude of countries, created tensions causing widespread food insecurity. Our priorities always lie in the provision of food but what if rice exports stopped or became so limited your access to such resources were lower than before? This problem creates a constant rise in prices due to surplus resources, then creates an angry population within the country and the government immensely hungry for foreign reserves.
This causes a recession due to one "minor" change in the weather patterns. For instance the nations Ethiopia and Kenya have been impacted severely because of the developing weather conditions leaving the population majority to have little or no access to essential needs and requirements.Understanding how changes in precipitation patterns is not just one minor issue out of the numerous amount, is a unbearable fact. Rewinding back to more examples of such situations: North Africa estimates that in 2050 climate change will account for 22% of future water shortages in the region, in 2020 wildfires in Australia destroyed millions of acres of forest creating disruption of supply chain for timber and wood products, delaying the constructions and infrastructure projects leading to USA to delay port operations and shipment process, and wildlife has also been severely harmed by these events.
Therefore, the industries and economics get impacted severely due to lack of resources. Also leading to high prices to produce their units to attract customers and the fear of losing their existing customers, whole idea of adjusting into a recession.
In addition, our world is attempting to tackle unstoppable obstacles. Climate change could simply disrupt the supply chain of resources leading to the people, firms and the whole world to struggle. All because we did not care about every action we took. All because the burning of fossil fuels became ordinary. All because the factories kept on doing what they called a part of "business". Because we did not listen to what was supposed to be stopped today! The possible prediction is that climate change will be another era that the human race can not tackle, Worse than of the plague or covid-19. The only possibility is if we can prevent such exposure to risks right away.
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