我认为这是一个错句,affect是个及物动词,后应接宾语,此句应改为：
At the same time, the company operating internationally will affect the environment in which it is operating to a lesser degree.
这句的主要成分是： The company operating internationally will affect the environment .
At the same time介词短语作时间状语
the company operating internationally主语
affect 谓语动词
the environment 宾语
in which it is operating 是the environment 的定语从句
to a lesser degree介词短语作结果状语