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Introduction
Global changes in climate have had tangible effects on numerous habitats and their biota. An increase in sea levels is one of the most infamous outcomes of global warming (Folger and Carter 116). Over the past decade, a vast increase in awareness about the problem of rising sea levels has been observed (Ramkumar 9). The introduction of ethical markets and sustainable business management into the current economic domain is one of the most evident changes in the attitudes toward the increase in sea levels and the problem of global warming, in general (Ethical Markets Media). Since there is the necessity to address the concern under analysis from multiple sides, the incorporation of ethical markets as the method of regulating the economic factors causing changes in the global sea level seems a legitimate step to take.
The outcomes of the rise in sea levels are quite drastic. The range of flooded areas and the resulting damage to habitats and property is one of the most evident negative effects that can be observed even presently (Folger and Carter 117). The ecological threat is also closely linked to the economic one, causing people devastating damage in the future. With the rise in sea levels, the drop in real estate values resulting from the flooding of numerous areas and the lack of management strategies will affect every single stakeholder, which is why restructuring the current approach toward sustainability in the economic setting is essential. This document is a recommendation report that suggests changing the current economic policy toward building ecological awareness and introducing floating and floodable development to the real estate market.
Solutions
Unfortunately, there have been no effective solutions to the problem of global warming and the subsequent rise in sea levels to date. Nevertheless, although the problem of rising sea levels as a part of the global climate change is nearly impossible to reverse, several management techniques can be introduced on multiple levels, including the economic one. Since the link between poor management of economic issues and the increase in sea levels is quite obvious, it is critical to focus on promoting sustainable economic growth in order to counteract the problem of rising sea levels (Ethical Markets Media). The use of ethical markets as the methods of reducing the financial damage caused by the described issue will have an immediate effect on the problem of sea levels rising.
The transition of fuel supply as the selected technique of managing changes in sea levels is believed to produce an impressively positive effect on the problem. However, in addition to the described measure, it is necessary to provide the solutions that will allow managing a possible rise in the levels of the sea. For example, floating and floodable development should become the focus of peoples attention along with the introduction of economic tools for mitigating the increase in sea levels worldwide (Ramkumar 16). As an alternative solution to the economic damage caused by rising sea levels, floating and floodable development will help to protect real estate and, thus, address the evident housing concern.
Nonetheless, it is important to recognize the fact that the rise in sea levels has already been launched. Although there is no known date of the ice collapse, it is essential to establish the strategies for handling the likely consequences, including changes in real estate values. Reconsidering flood insurance, along with building sustainable constructions, will become the solutions to the issue in question (Ethical Markets Media). The development of floating and floodable constructions will only provide a temporary solution to the housing issue, yet it will not resolve other problems that the increase in sea levels will have on the environment, primarily, the destruction of numerous habitats and their endemics as a result of flooding (Ramkumar 11). Therefore, exploring the effects that markets will have on the management of the specified environmental concern seems to be an adequate solution and the tool that has the greatest potential in managing rising sea levels.
Recommendations
Recognizing the irreversible nature of the rise in sea levels on a global level is the first and the crucial step toward creating a risk management strategy. The promotion of ethical and environmentally friendly framework for businesses to operate and design of a proper insurance policy that will help to handle the costs caused by rising sea levels will be necessary (Peloso 27). Organizations across all industries, including real estate, insurance, and other domains will have to be committed to the resolution of the described concern. Building global awareness and ensuring that every single stakeholder from organizations to individuals assumes responsibility is crucial, and the focus on mitigating the devastating effects of future damage to real estate is the first major step toward handling the threat.
Conclusion
Despite the fact that the rise in sea levels as one of the multiple effects of the global warming process is almost irreversible, reducing the damage that the described process will have in the nearest future is possible with an ethical approach toward running a business. As soon as markets and businesses functioning in their context recognize their responsibility for the changes in climate and the resulting alterations of flood insurance approaches and construction strategies, opportunities for managing rising sea levels will emerge (Ethical Markets Media). Engineering will have to push the envelope in developing the approaches toward addressing the safety of buildings and the efficacy of the existing water supply systems to maintain the consistency of the necessary services. Thus, the challenges of rising sea levels will be addressed.
Works Cited
Ethical Markets Media. Rising Sea Levels Worldwide, Part 2: Ethical Markets 7. Florida Libraries, 2015, Web.
Folger, Peter, and Nicole T. Carter. Sea-Level Rise and US Coasts: Science and Policy Considerations. Congressional Research Service, 2016.
Peloso, Margaret. Adapting to Rising Sea Levels: Legal Challenges and Opportunities. Carolina Academic Press, LLC, 2017.
Ramkumar, Mu. Cretaceous Sea Level Rise: Down Memory Lane and the Road Ahead. Elsevier ScienceDirect, 2015.
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