Some people think that climate change could have a negative effect on business. Other people think that climate change could create more business opportunities. Discuss both views and give your own opinion.

Many individuals consider climatic changes detrimental for their business; however, others consider it as an opportunity to grow. In my opinion, climatic change creates new business opportunities. Both the viewpoints are discussed in the essay. Climate change can certainly hurt businesses. For example, extreme weather conditions affect crops. A poor harvest will make farmers poorer and affect rural economies. When farmers do not have money to spend, the demand for products will decrease. Obviously, this is detrimental for all business. Likewise, extreme rainfall or flooding may force stores to stay closed for days on end. All of these scenarios are harmful for businesses. Conversely, for many companies the changing weather conditions are an affirmative way to grow. This is because climatic changes create new demands and as the demands are dynamic, the organisations can grab the opportunity to provide whatever is needed. For example, in 2019, Delhi was covered with smog in the month of October and according to the survey conducted by the Economic Times, the sale of air-purifiers and anti-pollution masks increased by almost 100%. Likewise, poor rainfall increases the demand for rainwater harvesting systems. In the same way, hotter summers provide manufactures a great opportunity to sell more fans and air conditioners. These examples clearly prove that if businesses are capable of catering to the changing needs of the society in the wake of climate change, they can reap rich dividends. In conclusion, although many people consider climate change as bad for their business, in my opinion it is possible to gain huge monetary benefits from such changes.