Financial Growth and Climate Action Are Linked For Bussines
The Paris Agreement was signed by 195 countries in 2015 as an effort to reduce greenhouse gas emissions and limit the rise in average global temperatures to below 2 degrees. When it was needed more than ever, with reports of Arctic ice melting much faster than researchers expected, this one-of-a-kind agreement was a huge breakthrough in international climate efforts.
One reason some politicians want the U.S. to break the agreement is that U.S. companies will have difficulty making money because of it. However, all over the world and even in the U.S., companies and businesses agree that there are many profitable business opportunities and that reducing climate impact and enacting tougher environmental laws will not mean that growing a business will be harder. Actually, many jobs are created with greener and more sustainable practices.
Sustainable business practices benefit the environment and can save a company a significant amount of money in the long run. Businesses can lower their operating costs by reducing energy consumption, minimizing waste, and using resources more efficiently. For example, implementing energy-efficient lighting and heating systems can lower utility bills. Additionally, using recycled materials and reducing packaging can lower production and waste disposal costs. Moreover, companies that optimize their supply chain and transportation methods can reduce fuel and logistics expenses. By adopting sustainable practices, businesses can also attract environmentally conscious consumers and investors, leading to potential revenue growth. Overall, incorporating sustainability into business operations is not just good for the planet but also for the bottom line.
Take Sweden. This country has one of the most ambitious emission reduction goals and plans to transition to a 100 percent renewable electricity system. And it still is one of the world’s most innovative countries. Swedish companies are growing and are at the top. They have successfully retained and reinforced their international competitiveness. Actually, emissions have decreased by 25% since the 1990s, while GDP has increased by 69 percent in Sweden.
Long ago, believing that there was an increased cost associated with companies’ climate efforts was common, but today, most businesses and world leaders have come to realize that ambitious climate efforts present opportunities. What many other policymakers in the U.S. have failed to realize (but many other countries already have seen) is that development in the renewable energy industry is linked to a significant fall in prices, which can lead to a dramatic increase in employment and growth.
To learn more about sustainable business practice, check out this Forbes article
And here is another one with some great tips and ideas
Also, read about how the solar business is growing and creating more jobs here
