How Climate Change Is Affecting Our World Today
Climate Change is a reality that is affecting the world in many ways that mankind did not expect. Acting on it is extremely important to minimize its effects. More and more people are getting concerned over this fact, as reported by National Geographic last 2019.
In the same report, 72% of the respondents said that climate change is important to them personally. This simply means increasing awareness on the topic.
BlackRock’s CEO Larry Fink backs this cause in his 2020 letter to the CEOs. In the letter, he urged companies to work on the imminent risks of climate change that can have effects on investors’ trust and market outlook.
Stating the potential effects that this global problem we are facing has, increasingly raised concerns among investors. And with this call, huge companies have followed suit.
Microsoft combats climate change
Microsoft, the tech giant, has pledged to reduce its carbon emission by 2030. In fact, it even pledges to make it negative. The firm set aside $1 billion of its budget to fund this project.
They recognize that with the growth of the global economy, carbon emission also grew because of energy consumption. And with this, the firm is looking to shift to renewable energy.
By 2050, they foresee that they can remove all the carbon they have ever produced through their carbon removal portfolio, which will employ several technologies.
Not only are they funding research and development of technologies to reduce and remove carbon, but they are also seeking the support of their employees.
Amazon’s Jeff Bezos commits $10B
It is called the Bezos Earth Fund. Jeff Bezos, the CEO of Amazon, has committed around 7.7% of his net worth to fund grants. He recognizes that climate change endangers the planet and there is still hope to reverse its effects.
This move, though admirable, was met with a backlash from Amazon’s customers. Amazon, being the leading e-commerce company, has been slammed by its customers for shipping small products with excessive packaging.
Excessive packaging contributes to waste, which seems to contradict Bezos’ effort to address climate change. The company has responded by saying that they will look into the issue.
Aside from the donation, Amazon is also making its move towards reducing its carbon footprint with a project called Shipment Zero.
The pledge of an oil giant
Oil giant BP pledges to reduce its carbon emissions and become a net-zero company by 2050. This announcement came as a surprise. Being an oil and gas company, BP emits millions of tons of carbon dioxide.
The company pledges to invest in low-carbon businesses, which will transform its line of business. There were no concrete steps yet, but at least the commitment shows that the company has heard the clamor of its stakeholders.
Climate change is not a localized problem. Instead, it is a global crisis that has affected every nation, every company, and every citizen of the Earth.
Companies have joined in the efforts of saving the Earth from the adverse impacts of human activities. Also, the government has seen bills being passed supporting clean energy like the Clean Energy Jobs Act of Illinois.
While it is good that companies and lawmakers are now committing to long-term plans of climate change mitigation, it is of utmost importance that each person contributes as well. The collective efforts of everyone would be most important to fight climate change.