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Report: Climate Change Offers Business Opportunities

Climate changeGlobal disasters related to the weather offer significant opportunities for companies positioned to help clients prepare for the consequences of climate change, according to a report by Environmental Business International.

In its report, EBI looks at how service providers are positioning their companies to work in this sector and also at the challenges involved in pioneering adaptation work.

Currently the climate change adaptation market is primarily in the investigational phase, and amounted to specialty service revenues of $700 million in the US in 2013. EBI forecasts a billion-dollar US industry by 2016 derived mostly from analysis, assessments, mapping and planning projects led by consulting and engineering firms, specialist climate change consultancies, and professional service firms. The global market for this is expected to be approximately $2 billion.

However, once adaptation moves into the design, engineering and construction phases, EBI predicts the market will see higher growth driven by major projects like desalination plants, levees, sea walls, port reinforcements and similar projects. Long term, climate change adaptation projects will represent tens of billions of dollars annually, including design and construction.

According to Jim Hight of EBI, the accelerating nature of climate change and the growing frequency of extreme weather events ensures that adaptation is going to be one of the fastest growing topics for government and the private sector, adding that now is the time for companies to understand the advantages of being early movers in responding to the challenges and opportunities of climate change.

The EBI report echoes the message of a report released last year by the United Nations Environment Programme which stated that climate change will increasingly affect businesses and how they operate.

In addition, nearly 90 percent of S&P Global 100 Index companies identified extreme weather and climate change as current or future business risks, according to a report released last year by the Center for Climate and Energy Solutions.

Photo Credit: Climate change via Shutterstock

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5 thoughts on “Report: Climate Change Offers Business Opportunities

  1. Find us one single scientist that “believes” as much as you exaggerating “believers” do and beyond science’s laughable 32 years of “could be” and “95%” certainty that THE END IS NEAR! A mob of goose stepping “believers” do not speak for science but science is 100% certain the earth is not flat but 95% sure CO2 “could” flatten it?

  2. Mitigation is rife with investment opportunity, too.

    http://thesolutionsproject.org/ has some options for every state.

    Maybe people won’t be as grateful for the mitigation business, but the people in the mitigation business will be carving the fat off the excess profits of the fossil fuel industries, and getting rich by doing good.

    Who needs gratitude, when you’ve got money?

    Who wants to wait until floods and droughts to make pennies, when acting now promises dollars hand over fist?

  3. Welcome back, mememine69 – your repetitive denier drivel has been missing for awhile (although not missed).
    Scientists don’t “believe” – instead they follow the evidence to logical and science-based conclusions. Roughly 98% of top climatologists all over the world continue to conclude that anthropogenic climate change (ACC) is happening and represents a serious threat (source: http://www.pnas.org/content/107/27/12107.full). An ever-shrinking mob of climate change “deniers” do not speak for science – indeed scientists speak for science and they continue to speak up in support of ACC. The ignorant rantings of deniers who have no scientific training or expertise; do not change the facts.

  4. I will come back to the subject matter at the end, but first I would like to share my opinion over the previous comment.

    It’s not so much when it is going to hit us since it’s happening now, but how much change we are ready to accept ? By the way most certainly it will be coming from the big oceans ! You know, stronger and more extreme weather behavior, monster hurricanes, sea rising, changes with the international oceanic currents, etc, Also what can be done to alleviate the anticipated effects at my level? Can I make money out of it ?

    To answer my own questions: I think it all depend where you stand on the globe. My advice is to move away as far as possible from the coasts. Move inland. By doing so, for one thing you will not be at the forefront of the various disasters and second you will contribute to self-repairing the coast from our presence. The coast will eventually protect itself and build natural protection barriers (Mississippi Delta and all deltas in the world have this capacity). Imagine the financial opportunities to move a coastal city inland !

    Second advice: stop using fossil fuel for yourself in any intelligent way and try to convince all your friends and family to do the same. Most certainly contagious behaviors will spread around the planete. I call it the “no more smoking here” effect. How we got so far and so quick in a couple of years with banning cigarettes from every public space is a lesson learned. Of course any “early-begginers” will tell you, if you start any type of eco-trend that requires changes in infrastructure, economic prosperity will flourish naturally .
    Behavioral and legislative changes works hand in hand.

    And of course I meant to say that if you doubted that climate changes equals prosperity? just look at how rich the economy is in time of war – before and after. Of course prosperity often rimes with disaster and destructions. So I am sorry if I sound a bit sarcastic by saying this, but the more GHG we are capable of producing the better the future will be for a certain type of economy, the R&O effect, unless we try the Prevention type to economy: it’s all up to us !

    Louis Albert

  5. FYI
    Deep Water Fracking Next Frontier for Offshore Drilling

    By David Wethe

    Energy companies are taking their controversial fracking operations from the land to the sea — to deep waters off the U.S., South American and African coasts.
    Cracking rocks underground to allow oil and gas to flow more freely into wells has grown into one of the most lucrative industry practices of the past century. The technique is also widely condemned as a source of groundwater contamination. The question now is how will that debate play out as the equipment moves out into the deep blue. For now, caution from all sides is the operative word.
    “It’s the most challenging, harshest environment that we’ll be working in,” said Ron Dusterhoft, an engineer at Halliburton Co., the world’s largest fracker. “You just can’t afford hiccups.”
    Offshore fracking is a part of a broader industrywide strategy to make billion-dollar deep-sea developments pay off. The practice has been around for two decades yet only in the past few years have advances in technology and vast offshore discoveries combined to make large scale fracking feasible.
    While fracking is also moving off the coasts of Brazil and Africa, the big play is in the Gulf of Mexico, where wells more than 100 miles from the coastline must traverse water depths of a mile or more and can cost almost $100 million to drill.
    Those expensive drilling projects are a boon for oil service providers such as Halliburton, Baker Hughes Inc. and Superior Energy Services Inc. Schlumberger Ltd., which provides offshore fracking gear for markets outside the U.S. Gulf, also stands to get new work. And producers such as Chevron Corp., Royal Dutch Shell Plc and BP Plc may reap billions of dollars in extra revenue over time as fracking helps boost crude output.
    Fracking in the Gulf of Mexico is expected to grow by more than 10 percent over a two year period ending in 2015, said Douglas Stephens, president of pressure pumping at Baker Hughes, which operates about a third of the world’s offshore fracking fleet.

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