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Global Warming Is A Business Risk
That Companies Ignore At Their Peril
With increasing scientific consensus that rising greenhouse gas concentrations are responsible for global warming, companies are taking measure of the risks that climate change and emerging regulatory requirements may bring. Some sectors, such as the insurance industry, have direct exposure to losses. Others may see their businesses impacted by demands for less carbon-intensive product lines.
Global warming results from a rise in Earth's average temperatures that is due, scientists believe, to rising concentrations of greenhouse gases in the atmosphere. These gases can block reflected thermal radiation from the sun. This has the effect of increasing the Earth's temperature, just as the enclosure of a "greenhouse" does.
Carbon dioxide is the most common greenhouse gas. The following table lists six greenhouse gases that can contribute to global warming:
| Name of Gas | Chemical Symbol |
| Carbon dioxide | CO2 |
| Methane | CH4 |
| Nitrous oxides | N2O |
| Halogenated fluorocarbons | HFCs* |
| Perfluorocarbons | PFCs* |
| Sulfur hexafluoride | SF6 |
| * The name refers to a class of related chemicals. | |
Scientists generally agree that human activity since the dawn of the industrial age, mainly from fossil fuel combustion, has increased atmospheric concentrations of greenhouse gases. The current concentration of approximately 350 parts per million (ppm) represents a sharp rise from the 180-280 ppm range of concentrations that scientists believe occurred normally over the past 400,000 years.
"Global warming" can be predicted from a rise in the concentration of atmospheric greenhouse gases. Indeed, data from the last century and half show a marked trend toward rising average annual temperatures, as the following chart indicates:
Mann, M. E., R. S. Bradley, and M. K. Hughes, Northern hemisphere temperatures during the past millennium: Inferences, uncertainties, and limitations, Geophysical Research Letters, 26, 759-762, 1999.
Though uncertainty remains about the effects of global warming, a scientific and political concensus is emerging to at least limit--if not reverse--the growth in atmospheric concentrations of greenhouse gases. The most prominent international mechanism for this is the Kyoto Protocol, negotiated in 1997. This international agreement may enter into force by 2003, though without U.S. participation.
In the United States, voluntary efforts to reduce greenhouse gas intensity are gaining momentum. Initiatives of both the federal government and several U.S. states encourage the voluntary reporting of greenhouse gas emissions. For organizations wishing to take proactive steps to minimize their greenhouse gas emissions, Futurepast provides a number of services. Please click here for information about measurement, reporting and verifying greenhouse gas emissions.
For information about our one-day seminar, please click on our Managing Greenhouse Gas Emissions hyperlink.