Changing business priorities in response to climate change
Environmentally responsible businesses will be trying to prevent climate breakdown by reducing emissions and energy use. It is also prudent to plan for how your business may have to operate in a changed climate. Here are some examples of new business directions you could take:
Climate change may increase demand for certain goods and services, such as water management products and equipment and clothing for extreme weather conditions. Renewable energy generation will become more attractive to businesses looking to increase their energy security.
Changing weather patterns may mean that Northern Ireland farmers may have to diversify into other crops that they do not currently grow. In some areas there may be an extended growing season. Using land for business activities other than traditional farming can increase income - this is known as farm diversification.
Changes for tourism businesses
Warmer summers could also extend the local tourist season and make certain local tourist destinations more attractive. Outdoor leisure facilities could see an increased demand. Similarly, increased rainfall may make investing in indoor facilities important for a more diverse range of tourist activities.
The climate impact of air travel may mean changes to the volume of overseas visitors or an increase in demand of eco tourism options. Businesses in the leisure and tourism sector should plan and prepare for these changes to their business model.
The construction industry may be experience an incerase in workload as people and businesses will want to change their premises to adapt to climate change. This will increase demand for new and altered premises and offer opportunities for repair, maintenance or clean-up contracts. There may also be the chance to develop new construction products and services for buildings.