Green Business - Golden Opportunity

Why does the business need ecology?

Taking care about ecology is now more than just a trend. Companies do it not only for a positive image. Many organizations are interested in the development of the environment they work in. Besides, frequently launching eco-projects is highly profitable. Recent New York research has proven it: ‘green’ goods are not only sold better, but also positively affect all the other goods in its category.

Today not only eco-activists and scientists concern about environmental problems. Normal people started to take the waste, resource depletion, and climate change more seriously. According to Nielsen research, 81% consumers all over the world think that a business must take care of the environment. An ecological business responsibility has become a norm and standard for entrepreneurs.

Ecology is profitable

Market research has shown that consumers are willing to pay more for the goods of eco-friendly companies. According to the survey, 95% customers are ready to overpay for eco-friendly goods. Ecology is becoming a new competitive advantage.

Consumers are interested in the projects that implement energy efficient technologies. The tendency towards ecology is changing customer habits and forming the demand for new goods and services. Therefore, it’s important for a business to change as well: environmental friendliness and sustainability are getting strong competitive advantages. Moreover, building a ‘green’ brand contribute to the audience loyalty.

It’s a crucial aspect, particularly, when entering foreign markets. An international buyer considers whether the company is cruelty-free or not and looks at the ways they dispose of the waste.

International investors also take into account the company’s ecological impact when making a decision on investing in it or not.

Green economics: why it is necessary

This is a discipline that supports the harmonious interaction between humans and nature and attempts to meet the needs of both simultaneously.

Referring to experts, companies investing in sustainable innovation to increase resource efficiency are achieving competitive advantage by meeting the mainstream markets of the next decade.

Research shows that offering sustainable products and services leads to sales growth, market share, brand value and reputation, along with customer loyalty.

The other survey reveals that in future business-to-business and business-to-consumer transactions, customers will expect all products to be environmentally and socially responsible. The new lifestyle markets, markets for sustainable cities, the organics and certified markets are all examples of opportunities to be cultivated and seized.

Green business advantages

- ecological friendliness is a world trend;

- great demand;

- low competition in certain niches;

- socially and governmentally supported;

- eco technologies allow to decrease costs.

Green innovations

Green Innovation aims to reduce the environmental damage and ensures that natural resources are used in the most effective way possible.

Examples:

Pavegen: Kinetic Energy Use

Founded by Laurence Kemball-Cook, Pavegen’s goal is to obtain kinetic energy from the regular movement of people and transfer it into electrical energy. The weight of people walking on the top surface causes generators under the tiles to rotate, producing electricity by electromagnetic induction. It produces about 3 joules per footstep or about 5 watts of continuous power. This energy can power local applications like lighting, sensors, and data collection and transmission or can be stored in batteries.

Ulta Chaata: Intelligent Sustainability

Samit Choksi and Priya Choksi, co-Founders of ThinkPhi, created Ulta Chaata to preserve water in its purest form in open spaces. It is a very large shading system, under which nearly 20 people can sit, or two cars can be parked. In a nutshell, it generates a single integrated product that builds green infrastructure.

Carbon Nanotubes: A Remedy For Plastic Problems

Singapore’s BlueRen Company came up with an outstanding invention to reduce the amount of plastic. Engineers at BlueRen have developed a manufacturing process that produces carbon nanotubes that are stronger than titanium using discarded plastics. Singapore’s skyscrapers and other buildings will be designed with the aid of these nanotubes. A carbon nanotube is a tiny carbon molecule cylinder that is 10,000 times thinner than a strand of human hair.

Sustainability is the key

In business, it means doing business without negatively impacting the environment, community, or society as a whole.

The aim of a sustainable business strategy is to make a positive impact on at least one of those areas. When companies fail to assume responsibility, the opposite can happen, leading to issues like environmental degradation, inequality, and social injustice.

Sustainable businesses consider a wide range of environmental, economic, and social factors when making businesses decisions. These organizations monitor the impact of their operations to ensure that their short-term profits don’t turn into long-term liabilities.

Examples of Sustainability in Business

Many successful organizations participate in sustainable business practices, however, no two strategies are exactly the same. Here are the examples:

• Using sustainable materials in the manufacturing process
• Optimizing supply chain to reduce greenhouse gas emissions
• Relying on renewable energy sources to power facilities
• Sponsoring education funds for youth in the local community

Eco tendencies:

• Vegetable alternatives. Now consumers more and more prefer eco-protein alternatives to meat. Even McDonald’s has launched meals with alternative meat.
• Closed-loop economy. It means reducing the waste and consumption for saving resources. Reducing the waste is one of the key ways to help the environments. Therefore, recycling and reusing are highly relevant concepts.
• Scaling carbon markets. They considerably help in achieving zero emission.
• Bio-diversity preservation. You should avoid using animal products and testing on animals in order to be eco-friendly and cruelty-free. Many consumers consider these statuses when selecting a product.
• Eco-technologies. They help reduce emissions, monitor the climate change, and accelerate renewable sources.