Q and P can be the first statement as they start with ‘The’, which is used before a proper noun, and we know from the basic grammar rules that any starting or introductory statement starts with a noun, and S is definitely the 2nd statement as it acts as conjunction, so R is definitely the 4th statement.
Now, if P is the first statement, and S is the 2nd statement, then they do not join together in a meaningful way “the impact business management choices not as significant as”, but if we consider Q as the first statement, then they do form a meaningful sentence “The impact of climate changes was not as significant as”, so P becomes the third statement followed by R.
Q: The impact of climate changes was
S: not as significant as
P: the impact business management choices
R: would have on profitability
Hence, ‘QSPR’ is the correct sequence.