Can sustainability impact today's economy?
The fact is, it’s already impacting it.
Over the last two decades, businesses have been focusing on short term growth. Finding the cheapest materials, the most affordable supply chains, etc. These, unfortunately, aren’t environmentally friendly solutions. On the contrary, they have been day after day damaging the environment, the planet and everyone who lives on it.
We aren’t talking about one single solution here, but rather most of what we’ve seen over the last twenty years. Plastic was a cheap, useful and durable solution, yet we’ve overproduced and consumed so much that now it’s all around us and we really don’t know how to make it go away.
Fossil fuels have helped civilization get where we are today in a way; we power our homes, transport, factories,...They are cheap, reliable and abundant all over the world. Unfortunately, these are non renewable, highly polluting both for our air and oceans, dangerous to produce, and most importantly, they are the main cause of global warming.
We are living a moment of inflex, or awakening if you’d like to call it so. We are on a time limit to stop the consequences of climate change and global warming,...and everybody knows that.
We’ve seen companies championing sustainability practices, and grow ever since. We are looking into renewable energy as the future. But how’s it going to impact our economy?
According to a new report published by the Global commission on the economy and climate Strategic policy and investment decisions supporting the transition to a pathway of low-carbon, sustainable growth could lead to direct economic gains of US$26 trillion by 2030.
In order to trigger this capital, we are looking at 3 different factors:
Firstly, investing in sustainable infrastructures. Then, harnessing the private sector in order to take actions towards a more sustainable business approach and finally, ensuring that society is the priority when looking at all these initiatives.
It seems that the tide is now changing and consumer preferences are switching with it. 73% of millennials would pay more for a sustainably made product, with Gen Z not further from them.
While society’s behaviour is clearly changing,...what’s happening with the energy sources behind production?
We are also going green. Renewable energies such as hydrogen asre on the rise. Why hydrogen? It can be produced in enormous quantities from different sources. Hydrogen can be produced either centrally, and then distributed, or onsite where it will be used.
The facts say that sustainability is not only the right thing to do, but the profitable thing to do. If we manage to leave behind the short term benefit mentality, we are in for a win.