According to a report by Swiss Re, a global insurance provider, climate change could erode a total of $23 trillion of global gross domestic product by 2050. But while global warming is a crisis prevalent in today’s news headlines, many companies and industries still stand to profit from its devastation.
With Donald Trump‘s reelection, we’ve already seen a push against clean energy initiatives and an executive order expanding coal mining, relevant because these actions will undoubtedly worsen global warming. The Institute of International Finance reports that our current measures are insufficient to keep global temperature rise below 2°C, which scientists warn will have devastating effects on our planet. As a result of this grim future, businesses must adapt and develop new strategies based on an ever-changing market.
There are a few standout industries booming as a result. Predictably, global warming is a major driving force for the HVAC industry, with rising temperatures boosting the demand for air conditioning. The renewable energy sector is also experiencing steady growth, with an anticipated growth of 4.22 percent from 2025 until 2029, as experts predict Trump’s efforts will only slow long-term effects. The events of 2024 demonstrated the costly effects of climate change, totaling $140 billion in damages, with disasters like the Los Angeles wildfires and Hurricane Milton being especially prominent.
In a dynamic market, any sector could boom next. Mining and exploration could expand to colder regions as thawing permafrost reveals previously inaccessible mineral reserves. This idea also applies to tourism, as people may flock to areas previously deemed too frigid or remote or undertake “last chance” tourism—a rush to visit threatened locations like Venice, where rising sea levels foreshadow an uncertain future.
There are many companies to keep an eye on, as investments are being poured into solutions to mitigate climate effects. NextEra Energy is a leader in renewable solutions as they strive to decarbonize the power grid—they are also investing in green hydrogen to reduce emissions. Another example is Tesla, which in addition to its electric vehicles also creates solar energy and battery storage products.
In the words of Gautum Jain, a scholar at Columbia University’s Center on Global Energy Policy: “The political environment has changed, so some of them are conforming to that… but mostly it is a rational business decision.” Whether it’s supporting businesses that prioritize sustainability, reducing personal carbon footprints, or advocating for environmental policy, our collective choices can ensure our world not only adapts to climate change, but actively combats it.
CONTACT: Trump signs executive order to expand ‘clean’ coal, but there’s no such thing, abcnews.go.com/US/trump-clean-coal-thing/story?id=119920490.
EarthTalk® is produced by Roddy Scheer & Doug Moss for the 501(c)3 nonprofit EarthTalk. See more at emagazine.com. To donate, visit earthtalk.org. Send questions to: [email protected].
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