Which Businesses Will Bloom In The Age Of Climate Change?

As the world adapts to the adversities of climate change, several new business opportunities will emerge

Globally, climate change is impacting humans and animals alike. It presents significant challenges such as extreme weather, rising sea levels, reduced food production, water shortage, ocean acidification, destruction of biodiversity, etc. Climate change will also impact the global economy, with significant challenges to the business ecosystem. Some businesses may start to weaken, whereas several new ones may emerge stronger. If you are looking to start a new venture, here are some ideas as to which businesses will bloom in the age of climate change.

Climate resilient architecture

Extreme weather events such as heatwaves and floods are occurring more frequently. This presents significant challenges for buildings and infrastructure, especially across urban centers. In the future, there will be an increased demand for houses and buildings that can withstand heat waves, floods and other climate-related adversities. As such, the climate-resilient architecture and urban planning segment will have huge business potential.

New farming systems

The traditional farmlands are getting adversely impacted by climate change due to floods, droughts, hailstorms, etc. As a solution, several new farming techniques are being perfected. It includes vertical farming, hydroponics, aeroponics, aquaponics, agroforestry, permaculture, cellular agriculture, etc. These are expected to emerge as major businesses in the coming years.

Water recycling and desalination

Shortage of water is going to be one of the biggest challenges for humanity in the coming years. We are already seeing major water shortages in several parts of the world. The situation will only get worse in the coming years. Businesses dealing in water recycling and desalination will witness a strong growth.

Specialized financial services

Due to climate change, several businesses are getting impacted by extreme weather events. Going forward, there will be a need for specialized financial products that can protect against climate change events. Such products will include business loans, insurance, etc. New tech-based financial entities may emerge, which will focus exclusively on climate-linked financial services.

Carbon capture

With forests getting cut every year, carbon capture and utilization (CCU) businesses will thrive in the coming years. The idea is to develop advanced technologies that can effectively reduce carbon dioxide (CO2) from the atmosphere. The collected carbon can then be used for various commercial purposes such as making synthetic fuels, manufacturing building materials, etc.

Reviving degraded ecosystems

Due to human activity, a significant percentage of land area has been devoid of its flora and fauna. For example, large waste dumping sites, mining sites, coastal salinization, etc. In the future, businesses involved in ecosystem restoration and rewilding will register strong growth.

In addition to the above, we are already seeing significant progress in renewable energy and the shift to EVs and other alternative fuels. These businesses will continue to register strong growth in the era of climate change.