The conclusion of COP28 is a pivotal moment in the global effort to address climate change, marking a collective commitment to propel the world towards a sustainable future. Central to this accord is a resounding call for a “transition away from fossil fuels in a just, orderly, and equitable manner,” aiming to achieve net-zero greenhouse gas emissions by 2050.

Businesses play a significant role in meeting this ambitious target. Consequently, business leaders should brace themselves for substantial changes, anticipating heightened scrutiny and increased environmental regulation. Additionally given the projected warming climate, businesses need to identify and respond to shifting customer behaviour in light of the escalating temperature and climate extremes.

Gaea’s Insights: Thriving Amidst Temperature Extremes

Delving into COP28’s implications for businesses, it’s crucial to highlight Gaea’s unique focus on temperature and climate impact. Gaea, an AI company and leader in climate-aware technologies, showcases how companies can sustain their operations and profit from opportunities arising from climate variance and extremes. The urgency of this focus is underlined by a stark reality: even if nations fulfil all COP28 pledges, projections by the UN indicate a trajectory toward a 2.9°C temperature rise, double the Paris Agreement target (1.5°C). This alarming figure has profound consequences for ecosystems, economies and businesses, especially in the food & beverage retail and manufacturing sectors.

Temperatures on the Rise: Addressing Changes in Consumer Behaviour

Against the backdrop of COP28, where global leaders strive for sustainable practices, it’s crucial to recognise the gap between aspiration and reality. Europe’s record-breaking summer in 2023 sets the stage for a dramatic shift in climate dynamics. Gaea’s Q4 Climate Change Impact report revealed temperatures are poised to surpass the 1.5°C overall increase, outlined in the Paris Agreement, before 2027 – a prediction also underpinned by renowned climate scientist Dr James Hansen in his recent report ‘Global warming in the pipeline’ and calculations published by Joeri Rogelj, a climate scientist at Imperial College London. Within the food & beverage sector, rising temperatures and the frequency of climate extremes are occurring with increasing regularity and impact, actively reshaping consumer demand for products beyond the scope of traditional retail prediction methods and the use of historic sales data. Gaea’s AI platform, Caerus, was created to address this specific issue, offering not just insights but actionable intelligence for businesses to maximise the opportunities for product demand surges.

Conclusion: Charting a Resilient Course Beyond COP28

Post COP28 the imperative for businesses to champion sustainability resonates louder than ever. The global commitment to steer away from fossil fuels towards a net-zero future propels enterprises into a transformative era. Business leaders, forewarned of impending changes, must now champion resilience, adaptability and innovation. The stark reality of a potential 2.9°C temperature rise, despite COP28 pledges, underscores the urgency for immediate action, particularly in sectors like food & beverage retail and manufacturing. Europe’s record-breaking summer serves as a poignant reminder of the pressing need for adaptation. Technologies such as Gaea’s Artificial Intelligence (AI) will provide the required innovation for businesses to not only weather the climate storm but to flourish amid change.