Question

What are the predicted consequences of legislation for global warming on industry?
short paragraph

Answer 1

Legislation to address global warming is expected to raise near-term costs for high-emitting industries through carbon pricing, emissions limits, and compliance requirements, but it will also drive rapid investment in energy efficiency, low-carbon technologies and clean energy supply chains. Firms that adapt quickly can gain competitive advantage, spur innovation and create new jobs in renewables, manufacturing of green technologies, and services, while carbon-intensive sectors may face asset stranding, job losses and relocation pressures unless they decarbonize. Overall the net effect should be a structural shift in capital and labor toward cleaner industries, with transitional challenges for affected regions and opportunities for first movers and exporters of low-carbon goods and services.