Above: A Coke bottling plant in Winona, Minn. The company has been affected by global droughts. Andrew Link/Winona Daily News, via Associated Press
So it is finally happening.
Mentalities are starting to shift, and large corporations now begin to realize that Climate Change is serious.
It was a strange feeling, and mixed emotions, to read the New York Times article earlier this month, entitled Industry Awakens to Threat of Climate Change.
The Author Coral Davenport describes an eye-opening experience for large corporations such as Coca Cola or Nike, who have started experiencing the dire consequences of Climate Change.
Although there is nothing to rejoice about climate change, it is good that economic imperatives finally get a seat at the table and start dictating corporations to act. Eventually, financial risks and interests may indeed be the most effective incentive for decision-makers to take a series of measures to mitigate climate change.
As the author puts it:
Coca-Cola has always been more focused on its economic bottom line than on global warming, but when the company lost a lucrative operating license in India because of a serious water shortage there in 2004, things began to change.
Today, after a decade of increasing damage to Coke’s balance sheet as global droughts dried up the water needed to produce its soda, the company has embraced the idea of climate change as an economically disruptive force.
“Increased droughts, more unpredictable variability, 100-year floods every two years,” said Jeffrey Seabright, Coke’s vice president for environment and water resources, listing the problems that he said were also disrupting the company’s supply of sugar cane and sugar beets, as well as citrus for its fruit juices. “When we look at our most essential ingredients, we see those events as threats.”
For more and to read the whole article, head here on the site of the New York Times.