Climate change is the biggest concern for human beings, so governments are taking measures to contain it. It is said that many businesses will be harmed due to climate change reforms, while others find it as an opportunity. Although it may boost the renewal energy production business, some car companies can be closed. I also opine that climate change reforms may reduce sales of many types of goods.

Climate change reforms can lead to the cease of many automobile companies. A majority of cars and other vehicles use petrol or diesel to run. These fossil fuels emit greenhouse gases after burning. Vehicles are considered the second main reason for increasing the earth’s temperature and climate change. So governments around the world want to stop the production of vehicles that use petrol and diesel. If the state orders to completely close the production of petrol and diesel vehicles, as a climate change reform, it can lead to the shutting down of many auto manufacturing companies. This is because the transition from producing one type of vehicle to another is not easy and cheap. Therefore, many companies will not withstand this stringent measure.

However, the government measures to control climate change can stimulate renewable energy equipment businesses. To contain, the emission of greenhouse gases, the state is promoting solar energy, wind energy and other green energy solutions. The government also subsidise this equipment so that more and more people buy it. Due to this, the demand for solar panels, batteries, connecting wires, windmill parts and other materials is increasing. It boosted the sales of companies that produce renewable energy system parts. Thus, the green energy sector has boomed manyfold since the states started taking measures to control climate change.

Nonetheless, climate change reforms are detrimental to a majority of businesses. All companies produce goods and use transportation systems to reach their products everywhere in the country. But governments want to reduce the consumption of petrol and diesel so that greenhouse gases are contained. For that reason, petrol and diesel prices are being increased more frequently. The less fossil fuels are used, the less will be greenhouse gases in the atmosphere. However, increasing the prices of fuels causes an increase in transportation costs, increases the product price and ultimately reduces the sales of goods. It harms the company’s profit. Thereby, businesses may face loss or closure.

To conclude, businesses that produce parts and equipment used to produce green energy get the benefits of the government’s steps to control climate change as renewable energy sources are promoted by the state. But automobile sector and companies that need transportation to transport their products face loss as the state discourages the use of fossil fuels. It will shut car manufacturing companies and many other businesses. Therefore, climate change reforms will adversely affect the business.