We have a severe ecological crisis at our hand. This problem affects the business organizations in different ways. The depletion of the natural resources and deteriorating environment impacts are causes of concern for the business community. The absenteeism and loss of work hours due to sickness is one example of the environmental mess that we live in today. Let us get a detailed view of the environmental hazards impacting business.
A Lack of Adequate Supply of Drinking Water
Drought and water supply problems are compounding matters for the business community. Many companies with farmlands need to grow fruits and vegetables. They need to have water to grow their produce. However, these companies in different parts of the world are struggling to find enough water. Similarly, water is an essential element for any office from drinking to cleaning, serving various purposes. Businesses in some places do not have access to clean drinking water. So, they rely on the mineral water companies to provide them with a fresh supply of water.
Climate Change Among Major Environmental Hazards Impacting Business
It may sound naïve to relate every business organization getting impacted by climate change. However, the rise in temperature of the atmosphere with unpredictable weather is making it difficult for companies that sell agricultural produce. The climate change is severely influencing crop patterns and making it difficult to predict the yield. Similarly, the recent storm in the US has seriously impacted businesses lying on the coastal shoreline.
Disposal of Waste
The tendency to consume more products results in a lot of waste. Many leading cities in the world need businesses to dispose of their waste correctly. The landfill sites for waste disposal have become a significant source of bacterial infections and spreading of fatal infectious diseases. Some business organizations do not properly dispose of their waste. Similarly, large manufacturers that produce a lot of products create millions of tons of waste each year. They have to come up with proper waste disposal systems to ensure that their waste does not pollute the environment. Governments are asking businesses to adopt a zero-waste strategy of relying on sustainable materials. However, it adds to the costs of disposing of the waste and finding sustainable materials for making products.
Pollution, the most significant evil of the industrial age, now adds to different types of health problems. Depletion of ozone layer does not only create breathing difficulties but also causes deadly diseases like skin cancer. Dangerous chemicals like sulfur dioxide, lead, carbon monoxide, and nitrogen dioxide further pollute our environment. There is an increase in the number of employees claiming medical bills. Similarly, companies working in highly polluted environments find it hard to retain employees for the more extended period.
Increase in Cost of Raw Materials
There are numerous examples of environmental hazards impacting business costs. One reason is the new breed of ecological conscious customers who do not want to hurt the ecosystem. They want to buy from companies that also take care of the environment. For example, climate-conscious customers try not to print papers unless necessary. Therefore, many paper manufacturing companies are also growing farms to replace the trees cut for manufacturing paper. Thus, the liability to maintain the environment and protect it from further depletion increases the cost of doing business.