![\"Marc](\"https:\/\/www.curtin.edu.au\/news\/wp-content\/uploads\/2019\/11\/Emissions-reduction-workshop-336x180.jpg\")
The future effects of global warming are well known. In coming years, the world will experience higher average temperatures, causing ice to melt, sea levels to rise and an increase in the frequency and severity of extreme weather events. Taking action is imperative. And it poses many challenges for business and government.<\/p>\n
\u201cTo achieve the goals of the Paris Agreement and limit global warming to well below two degrees centigrade, we need to reduce carbon dioxide emissions by more than six per cent each year to reach net-zero emissions by 2050,\u201d says Curtin chemical engineering graduate and technical director of engeco, Marc Allen.<\/p>\n
\u201cWe need to roll out current low carbon technology around the world, while working on new technologies to accelerate decarbonisation and achieve negative emissions. Businesses have an important a part to play in limiting global warming but often don\u2019t know how to start \u2013 that\u2019s why I founded engeco.\u201d<\/p>\n
Allen\u2019s Singapore-based consultancy helps businesses around the world lower their emissions. They also advise companies on reducing their exposure to climate change risk.<\/p>\n
\u201cCompanies don\u2019t deal well with disruptive changes like global warming. There\u2019s a huge appetite for guidance and strategy on the potential business risks that come with climate change.\u201d<\/p>\n
Some of these risks are obvious, like changing weather patterns and coastlines threatening a company\u2019s operations and assets, for example.<\/p>\n
Other risks are more subtle, but just as important.<\/p>\n
Taking on potentially environmentally damaging projects is becoming riskier. Getting financial backing may be difficult, there may be boycotts and public backlash if they don\u2019t honour their environmental responsibilities, and their brand and reputation may be heavily impacted.<\/p>\n
Given this, it\u2019s unsurprising that some companies are now acting fast on lowering their emissions.<\/p>\n
For example, large companies such as BHP and Rio Tinto have been rolling out automated trucks and equipment. Automation creates a safer workplace and more efficient operations, which is a win for the environment.<\/p>\n
Smaller mining companies have been starting to use big data analyses to optimise whole-of-enterprise operations, which also reduces emissions. Other companies are switching to electric vehicle fleets and solar diesel hybrid power plants to reduce costs and environmental impact.<\/p>\n
But many lag behind. Prioritising sustainability over fast growth is a challenge is for governments and businesses around the world. A company may decide to invest in rapid but polluting production increases over environmentally friendly, longer-term ventures. Governments have similar competing priorities with environmental strategy often tied to short-term election cycles.<\/p>\n
\u201cOur economy is built on generating emissions with very few drawbacks. When these emissions start to have consequences and a price tag attached, it upsets the way businesses and governments are run, and they can be reluctant to change.\u201d<\/p>\n