4 Actionable Strategies Businesses Can Adopt to Mitigate Climate Change

The impact of climate change goes far beyond what it seems on the surface. Besides affecting lives and livelihoods, it can have a devastating impact on the global labor force and economy. According to an October 2023 report by Lloyds, extreme weather events could result in losses worth $5 trillion over five years.

The International Labor Organization reports that heat stress under a 1.5°C warming scenario could lead to a massive loss of working hours by 2030. This amounts to an estimated 80 million full-time jobs worldwide! These numbers highlight the significance of mitigating climate change to save the planet.

Fortunately, Americans are showing great awareness in this context. A 2023 survey showed that 70% of American adults believe that large companies are not doing enough to curb the effects of climate change. As a business owner, you should take the cue and start implementing measures to build a responsible reputation and win over your customers.

In this article, we will share a few actionable strategies that can help businesses do their bit for the planet.

Assess And Analyze Greenhouse Gas Emissions

Greenhouse gas emissions are the first thing businesses should consider when it comes to making a difference. Start by assessing your carbon footprint to understand how much your company is contributing to climate change. Also, analyze the GHG emissions to understand the core causes and work on them.

For example, energy consumption and transport are often the activities contributing most to pollution for businesses. The good news is that CO₂ emissions from energy consumption in the US have decreased by nearly 20% since 2005, as per Statista. That shows that we are on the right track.

Once you identify the culprits, start thinking of solutions to reduce the emissions caused by them. If energy consumption is the problem, take steps like lowering the HVAC usage, investing in smart automation, and opting for less resource-intensive processes. This way, you will reduce your carbon footprint and energy bills.

Opting for renewable energy sources is another solution. They lower the dependence on pollutant-creating fossil fuels and reduce resource depletion.

Reduce Waste as Far as Possible

Industrial waste is a big problem in the US, and businesses of all types contribute to it. Whether you run an industrial unit, office, retail store, or restaurant, you probably produce waste in some form. Reducing the amount of waste generated every day can help you do your bit to curb global climate change.

Waste Dive notes that the waste and recycling industry in the US was worth $91 billion in revenue in 2022, up from $82 billion in the previous year. Every business can implement measures to reduce waste.

There are plenty of ways you can do it, from reducing paper prints to recycling industrial waste and avoiding disposable cups and stirrers. Solutions like water harvesting can help conserve resources in agricultural and irrigation settings.

According to Atoco, the innovative atmospheric water harvesting technology can do more than help with resource conservation. It has the potential to counter water scarcity in the long run.

Invest in Green Infrastructure

Another strategy that can help businesses reduce climate change is opting for green infrastructure and equipment. The growing investment in green buildings is an example of eco-friendly infrastructural development. The American green building market size in 2021 was valued at a whopping $83 billion.

If you run on tight money and cannot buy a green premises, consider adopting cost-effective measures to become eco-friendly. Swapping incandescent bulbs with LED variants is a great start as the latter last 25 times longer and consume 90% less energy than traditional bulbs. You can buy energy-efficient office equipment like new printers, laptops, screens, and HVAC systems.

Fleet businesses can switch to hybrid or electric vehicles that match the latest environmental standards. Think of these as sustainable investments that will pay back over the years and minimize your company’s impact on the environment.

Collaborate with Sustainable Suppliers

As a business owner, you have a responsibility to choose the right partners. When countering climate change, collaborating with like-minded suppliers is important.

Look for ones who follow good environmental practices in their operations. You may even ask them to adopt more sustainable practices or reconsider collaborations that do not serve the goal.

Working with eco-conscious suppliers enables you to set up the foundation for driving positive change. You can also get the benefits of innovation, risk mitigation, and enhanced brand image with such partnerships.

Undoubtedly, climate change is a serious concern, but it has viable solutions. Businesses should take ownership and adopt the right approach to reduce their impact on the environment. Adopting these strategies can help you drive change and inspire your employees, partners, and other businesses to follow the same mindset.