How to Help Growth in The Green Economy – Individuals and Businesses

The 21st century continuously faces two primary challenges:

  1. A growing global population
  2. An expanding economy

Addressing these issues continuously is what environmentalists and organizations have been doing for decades, and an impact has been made to date, but more needs to be done by not only them but us as individuals as well.

If these issues are left without being addressed, not only does the population suffer but also the environment around us. This is where ‘green growth’ comes in. in simple terms, the idea of green growth revolves around finding solutions and opportunities to tackle these 2 above-mentioned scenarios in the best way possible. 

Fostering the development and economic growth together with keeping natural assets continuous, is key to the solutions, and well-being of society and the environment. Both innovation and investment have been proven to be viable solutions to date and contributed to new economic opportunities as well as overall sustainable growth. 

What once was known as sustainable development is now referred to as ‘green growth.’

What Is Green Growth?

It is a concept derived to provide flexible and practical solutions and approaches to help create measurable progress, and concrete achievable opportunities, across the environmental and economic pillars. The focus is on green initiatives and strategies to keep our world going strong without causing any harm.

Assets considered include:

  • Clean water
  • Clean air
  • A resilient biodiversity
  • Human health
  • Food production

How you can help the growth of the green progress, is also a key aspect to consider. As we all know, it starts with every individual. So how can you help the growth of a greener economy? Let’s look at a few suggestions below.

The Main Considerations When Helping A Green Economy to Thrive

  • Innovation and value creation
  • Reduced energy and waste consumption
  • Allocating resources to the peak worth of their use
  • Using natural resources

How Governments Can Help the Growth of a Greener Economy

Not only us, but our governments also need to help with this regard. There are some ways that your government can make a difference. These include:

  • Increasing investor confidence in fixing environmental issues
  • Opening new markets by stimulating green demand
  • Increasing demand for technologies, goods and services within the green living space
  • Implementing green taxes
  • Eliminating harmful environmental subsidies
  • Anti-poverty programs
  • Investing more in water, sanitization and healthy foods

All the above strategies need to be tailored to fit the different economies as they stand now. Managing potential risks and bringing more efficient solutions to tackle issues like poverty, environmental pollution, lack of natural resources, degradation, and minimal beneficial technologies, can all play a significant part in creating a cleaner and greener economy and environment and creating a strong and sustainable world to live in.

Supporting the Green Economy as a Business

As a business, there are a few beneficial ways you can support a green economy. Below are a few suggestions:

Turn Your Supply Chain into a Green Solution

Many business supply chains should be made greener. Who are your suppliers? Where do they come from? What types of materials do they use? Are they sustainable? Think about all these aspects and increase your resilience to changes in things such as exchange rates, and global politics, as well as whom you do business with. If it’s internationally manufactured products, think twice about import taxes. Try locally manufactured instead, if possible.

Reducing resource and Energy Consumption

Efficient use of energy and resources is another way small and large business can help towards a greener economy. Working from home, or in the office has nothing to do with it, however, the excessive use of appliances, wastage of energy and electricity, as well as minimizing unnecessary actions such as printing copious amounts of paper should be re-thought. 

Turning off computers and monitors when not working, turning off lights when not in use, using LED bulbs and recycling and reusing items, can all help towards this cause.

Relevant Technology 

Embracing the idea of relevant technologies is also key to this cause. Using the right technologies can help with more efficiency and less usage of resources. After the covid-19 pandemic, many businesses have considered this approach.

Embrace the Virtual

When having meetings, try and host them virtually whenever possible. Thus, reducing the impact of travelling back and forth between the office and home, or between clients and the office. Try out the various virtual platforms such as Zoom, Google Meet, Slack and more. Give your employees a choice.

It will help you build a strong and trustworthy brand, as well as your reputation.