Collapse of Some Companies
With the current trend in weather change, most of the business have been forced to either stop their production or change the methods they use in producing some particular goods and services (El Kenawy et al. 2016, p. 660). Most of the energy production companies have been closed to give way for the more sustainable and efficient form of energy such as the solar power (Stern et al. 2006, p. 25). Companies operating internationally are forced to pack up and return to their native homes after the host has declared their produce illegal.
The primary objective of this study will be to establish the mechanisms that will enable businesses to adapt to the changing climate (West and Brereton 2013 p. 23). The study will also show the industries that are mostly affected and how best they can do to counter the changes so as not to go out of business.
Alongside the primary goal, the research is also aiming at providing an alternative method of energy production that will enable economic development (Stern et al. 2006, p. 25). Saudi Arabia being one of our area of study, it will be of a significant help change the pattern of production in the global market (El Kenawy et al. 2016, p. 660). It is a reality that climate change cannot be stopped but just reduced to a sustainable level. Therefore, more study is still needed for a better solution.
The research will be conducted in Saudi Arabia, a country expected to be the largest oil producer in the world (Furrer, 2009, p. 89). During a workshop with business societies based in Saudi, the amount of pollution reduction will be audited to come up with a better way of solving the pollution situation (El Kenawy et al. 2016, p. 660). The reaction of the attendees towards the proposed new methods of energy production will be used to make a concrete resolution on which method to use. Taking a chance to stay in Saudi Arabia will be an added advantage for the study since it gives the researcher the opportunity to have first-hand information (Stern et al. 2006, p. 25). The researcher will not need to be told about the level of pollution but will witness the impact on the environment.
The research will utilize several research methods in order to select the best adaptation mechanisms. First, a desktop survey will be conducted to review the reasons for climate changes and the adaptation methods that have been used over the last ten years (West and Brereton 2013 p. 23). All the related research studies conducted at this time will be identified and used during the survey. A detailed report will then be produced so as to find out the existing gaps in the adaptation process due to climate changes.
A workshop will also be conducted with leaders of various companies, regulatory authorities and other key stakeholders (West and Brereton 2013 p. 23). The report produced initially from the desktop survey will then be handed to each of these participants to serve as a guide during the session. Each workshop session will be used to build on the theme of the previous workshop.
Significance of the Study
From the study, business individuals will be able to appropriately set their strategies on the available market for their goods and services (Stern et al. 2006, p. 25). Saudi being the largest producer of oil and one of the leading contributor to global warming (El Kenawy et al. 2016, p. 660). Climate change has been an international disaster, and the most affected group is the business. The research will, therefore, benefit the entire global businesses community.
The sessions will be as follows.
Ø Session 1- the approaches to adaptation
Ø Session 2- the risks brought by the climate changes
Ø Session 3- costs involved in the adaptation
A comprehensive report will be written during the final session of the workshop and classifications will be made. The results of this study will be generated after consultation from some of the workshop’s attendees and thorough consultation with other global business heads.
Significance of the Study
Information gathered from the study will be useful to business policy makers and company leaders across the world (Furrer, 2009, p. 89). Climate change is an inevitable course and, therefore, companies will need to use the proposed mechanisms from this study so as not to waiver in the wake of the changes (West and Brereton 2013 p. 23). These mechanisms that will be drawn from the study are vital for the survival and successes of any business. Therefore, the companies will be able to come up with the strategies that best suit them. The study will also serve as a reference for other researchers in this line of study. Finally, the field of climate change and its impacts on business development are to be studied.
List of Reference
Depledge, J., 2008. Striving for no: Saudi Arabia in the climate change regime. Global Environmental Politics, 8(4), pp.9-35.
Retrieved from http://www.mitpressjournals.org/doi/abs/10.1162/glep.2008.8.4.9#.V__AxxaEDDc.
El Kenawy, A.M. and McCabe, M.F., 2016. A multidecadal assessment of the performance of gaugeand modelbased rainfall products over Saudi Arabia: climatology, anomalies and trends. International Journal of Climatology, 36(2), pp.656-674.
Retrieved from http://onlinelibrary.wiley.com/doi/10.1002/joc.4374/full.
Furrer, B., Hoffmann, V. and Swoboda, M., 2009. Banking & climate change: Opportunities and risks: An analysis of climate strategies in more than 100 banks worldwide. Sustainable Asset Management, ETH Zurich and ZHAW.Jones, C.A. and Levy, D.L., 2007. North American business strategies towards climate change. European Management Journal, 25(6), pp.428-440.
Retrieved from http://www.sciencedirect.com/science/article/pii/S026323730700063.
Kasa, S., Gullberg, A.T. and Heggelund, G., 2008. The Group of 77 in the international climate negotiations: recent developments and future directions.International Environmental Agreements: Politics, Law and Economics, 8(2), pp.113-127.
Retrieved from http://link.springer.com/article/10.1007/s10784-007-9060-4.
Nachmany, M., Fankhauser, S., Davidová, J., Kingsmill, N., Landesman, T., Roppongi, H., Schleifer, P., Setzer, J., Sharman, A., Singleton, C.S. and Sundaresan, J., 2015. The 2015 Global Climate Legislation Study: a review of climate change legislation in 99 countries: summary for policy-makers. London, UK.
Retrieved from http://www.lse.ac.uk/GranthamInstitute.
Stern, N.H., Peters, S., Bakhshi, V., Bowen, A., Cameron, C., Catovsky, S., Crane, D., Cruickshank, S., Dietz, S., Edmonson, N. and Garbett, S.L., 2006. Stern Review: The economics of climate change (Vol. 30). Cambridge: Cambridge University Press.Retrieved from http://www.citeulike.org/group/342/article/919155.
West, J. and Brereton, D., 2013. Climate change adaptation in industry and business: A framework for best practice in financial risk assessment, governance and disclosure. National Climate Change Adaptation Research Facility, Gold Coast, Australia, 21(13), pp.152.
Retrieved from http://apo.org.au/files/Resource/Final-report-West2013-Climate-adaptation-industry-business-WEB.pdf.
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