The coal mining industry runs the risk of suffering significant losses as governments increasingly tilt towards renewable energy sources and demand that companies have net-zero carbon emissions.
Leisure businesses, such as ski resorts, face risk of melting snow owing to climate change. Droughts, wildfires, and flooding are red flags for the agricultural sector.
In addition to all of this, businesses are spending money to implement government regulations regarding new climate-friendly policies. The same companies also run the danger of potential legal action, if they do not follow the law.
Therefore, there is no question that climate change is actually impacting the business climate, a term that refers to the overall conditions that influence the success of businesses.
It is in this context of competing forces vying for attention and power that one has to examine the recent crackdown on environmental activists in Germany.
Climate change and German economic damage forecasts
According to a study released in March 2023, Germany might wind up bearing huge economic damage of up to 900 billion euros by 2050 due to climate change. Climate activists, on the other hand, are worried that if regulations are not changed, businesses may fail and this could disrupt people’s lives.
Last Generation environmental group
WION spoke with the Last Generation climate group after Wednesday’s raids by German police on its supporters. The climate group is well-known for its distinctive style of protesting, which includes destroying artwork and blocking highways.
They sometimes also glue themselves to roads, actions that German Chancellor Olaf Scholz sees as “completely crazy.”
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