Green business or sustainable business is enterprise that has no negative impact on the global or local environment, community, society or economy. Often sustainable businesses have progressive environmental and human rights policies. A green business is any organisation that participates in the environmentally friendly or green activities to ensure all its processes products and manufacturing activities adequately address current environmental concerns whilst maintaining a profit. In other words it fulfils the Brundtland declaration which states “meets the needs of the present world without compromising the ability of the future generations to meet their own need”.
The private sector has a critical role to play in helping solve the world’s most pressing environmental and social problems. Businesses green initiatives can include conserving materials through lean manufacturing converting harmful gases into cleaner energy generating greener power and improving fuel economy. Designing for the environment is also an element of a sustainable business. This process enables users to consider the potential environmental impact of products and their processes used to make that product. Even Henry Ford was pioneer in the sustainable business realm experimenting with Soya based materials and ethanol during the days of constructing the Model T car.
Organisations that give back to the community whether through employees volunteering their time or through charitable donations or often considerably socially sustainable. Organisations can also encourage education in our communities by training their employees and offering work experience to younger members of the community.
The green economy will be a significant participant in bringing an end to the current world wide recession because of the enormous investment in alternative energy sources. Solar and wind energy used in homes and businesses, hybrid electric cars are one of the reasons why a depression will be avoided. Green technology is moving green businesses on a macro level with much of the money that Governments are pumping into the economy to promote alternative energy.
In the United Kingdom energy efficiency is now the number one cost cutting priority for UK businesses looking to combat the impact of potential economic slowdown according to research published by the Carbon Trust. UK industry wastes £7 million a day on poor energy efficiency which amounts to £2.5 billion equivalent to 13% of energy on company energy bills. This could employ a further 100,000 people on an average wage.
Businesses which demonstrate innovation, entrepreneurship and sustainability often demonstrate high levels of environmental management including risk management skills compliance with environmental management benchmarks if not exceeding them a corporate and social responsibility including share holder management and a positive attitude towards the community.
Business schools are now concentrating on “doing well by doing good” demanding that more attention be given to world social and environmental challenges with courses on sustainable enterprise and corporate and social responsibility gaining momentum. These are amongst the largest enrolment classes in many business schools as a culture of developing sustainable enterprise in business schools begins to take hold. Even existing businesses are being encouraged to make change in their business to inform them how climate change and related environmental crisis will affect their business activity.
Choosing a green business will depend on many factors but it is important that you should get active consideration to businesses which demonstrate a mix of being ethically correct helping the community demonstrate clear green credentials and has stated measurable goals in terms of environmental performance.
