Big businesses often feel threatened by the growing concern for the environment and would rather close their eyes to the reality of the situation. However, it is difficult to deny that the climate is changing; it is hard to notice the increasingly hot summers, droughts and floods, as well as drastic weather changes. There is no doubt that nature’s raging furies have been human-induced. In addition to our individual contributions to the carbon emission levels (the main culprit in the whole climate change story), businesses around the globe undoubtedly have a lot to account for. There is a saying that the only legitimate reason for the existence of business is profit. However, nowadays there are lots of lucrative business opportunities to be exploited in response to climate change. While some people will despair, apt entrepreneurs will find ways of making profit, the most obvious example of this being a boost in the sales of air-conditioners. Waste management has already proved its profitability; e.g. Houston-based Waste Management Inc. is a company where waste equals profit.
There are numerous ways of going green, both profitable for businesses and beneficial to the environment. As formulated by a representative of the United Parcel Service, one of the world’s largest package delivery companies, ‘managing fuel consumption and greenhouse gas emissions is a business opportunity – one that can improve the bottom line, reduce our impact and our customers’ impact on the environment and increase the long-term viability of our company’. Companies that respond to the growing customers’ demands by developing new hybrid technologies (such as Honda and Toyota) will not only increase revenues but also gain a competitive advantage. At the same time, they will avoid lawsuits for harmful practices as depicted in movies such as Erin Brokovich. The key word in running a business today is sustainability. According to a widely-used and accepted international definition, sustainable development is: a development which meets the needs of the present without compromising the ability of future generations to meet their own needs. Being perceived as ‘green’ helps companies maintain their profitability. This is why many of them are so keen on publishing reports, in which they present themselves as good corporate citizens by pointing out actions taken for the benefit of the environment. Some companies overdo it to such an extent that the phrase green washing has been coined, revealing their environmental concern to be a mere publicity stunt. To sum it up, going green pays off both to the environment and to businesses.
