Environment and Business an Emerging Industry
A Report on the 2008, 2nd Annual Environment and Business Conference, Hosted by The University of Waterloo
Jonathan Frank
TakingITGlobal, Editor: Environment and Urbanization Issues
On March 26th, 2008, I had the opportunity to attend the University of Waterloo’s (UW) 2nd annual Environment and Business (EB) Conference. It was not too long ago when ‘environment’ and ‘business’ were on opposite ends of the spectrum. Without generalizing too much, these were separate entities containing disconnected communities of people with very different goals and concerns, often at battle with each other. We are now entering a new age in which being green can bring you green.
For the past several years I have believed that what the planet needs is an Environmental Revolution. I have not been alone in this opinion, although the term Sustainability Revolution is also common. (Green Revolution has also been used, however, this term is often used to refer to boosting agricultural productivity). After attending UW’s EB Conference I am now confident that not only do environmentalists believe that we are entering an Environmental Revolution, but entrepreneurs do as well.
The first keynote speaker truly set the tone for the conference by instilling in the well over 100 attendee’s that although humans have led this planet closer to it’s demise than ever before, we are not totally lost. Dr. Thomas Homer-Dixon, author of The Upside of Down: Catastrophe, Creativity and the Renewal of Civilization, provided us with an enthralling lecture. He focused not only on the scientific realities of human induced Climate Change, but the inspiring concept that the coming times of crisis could reinvigorate human society.
In his words, Global Warming is the “most serious challenge human kind has ever faced” and the only way to avoid complete societal collapse is to “embrace change”. Humans, particularly those in developed countries, must be willing to undertake drastic lifestyle transformations. However, one of the biggest purveyors of environmental damage and one of the greatest obstacles to change thus far has been major trans-national corporations, powerful international lobbying organizations that promote corporate interests, and the politicians beholden to them. These groups have vested interests in maintaining the status quo and continuing to promote the idea that a societies economic success is measured by growth. Dr. Homer-Dixon stressed that we “must make capitalism and markets work” by working with these powerful groups and the current globalized capitalist economic system. We must foster a way for these groups to remain successful in a sustainable way.
Over the past two hundred years human kind has experienced two major revolutions, which brought previously unthinkable changes. The industrial and technological transitions fundamentally altered human life and we need to prepare for and help usher in the next great transition to a sustainable, environmentally conscious planet. One underlying theme of the EB Conference was that there is a lot of money to be made in this transition. However, most businesses that are adopting for ‘green’ practices are doing so for more than that reason alone.
Throughout the day we heard from various speakers representing businesses such as Frito Lays Canada and Home Depot as well as a Venture Capital firm, ‘GreenTech’ businesses and environmental consultants. By becoming more energy efficient, Frito Lays factories have significantly reduced operating expenses and now have a goal of becoming carbon neutral. Within three years, they have saved enough energy to power over 500 Canadian homes for three years and have saved 760 million gallons of water, enough to shut off Niagara Falls for close to one minute. This has mostly been accomplished by ingeniously capturing and reusing previously wasted energy and water. Home Depot’s successful ‘environmentally friendly’ marketing campaigns have boosted business while also helping people exchange their older, energy intensive and polluting products with newer, greener ones. Representatives from the environmental consulting firm Jacques Whitford discussed the process of analyzing a company’s carbon footprint and eliminating unnecessary carbon emissions and the options companies have in offsetting their carbon emissions through Carbon Credits. Other advantages and motivations noted for ‘going green’ include attracting the best employees, gaining a greater market share of the ever-growing environmentally conscious consumers, and…oh ya…because it’s the right thing to do!
Tim Jackson, of Tech Capital a Waterloo, Ontario venture capital firm discussed how green entrepreneurs have potential to attract significant investments. Like the recent technology and Dot-com booms, the ‘green’ boom, while still in its relative infancy, has incredible capacity to develop into a multi-billion dollar industry. Now, I know that it may sound shallow or disingenuous to profiteer from Global Warming, but, as Dr. Homer-Dixon stressed, we must engage corporations and work within the current capitalist system to find “win-win solutions”. This will prove to be the most effective way to begin the transition to a sustainable future. If big business and the barons of capitalism buy into the idea that ‘going green’ is profitable, then we will be converting one of the biggest impediments to the Environmental Revolution.
The final speaker of the day was Marc Stoiber, who recently started a ‘green’ marketing company. He spoke about the marketing advantages gained from having a truly environmentally friendly product. As well, he discussed the broad misconceptions about supposedly ‘green’ products. ‘Greenwashing’ is a term used to describe the act of misleading consumers about the environmental practices of a business or environmental benefits of a product or service. In a survey by TerraChoice it was discovered that of 1,018 consumer products containing 1,753 environmental claims, only one was irrefutable. With 90% of American consumers claiming they are environmentally conscious consumers, there is no doubt that Greenwashing plays a significant role in their delusions. Stoiber, like the other speakers and representatives at the conference stated that we were in the “early days of a revolution”, and businesses can capitalize.
It is exciting to think that we are entering a revolution. But it is not coming nearly as fast as is required to stave off considerable and irreversible environmental damage and possible societal collapse. It is promising, however, to hear that corporations, which to date have been the biggest opponents of altering business practices to create sustainable economies and a healthy planet may lead us into this revolution. And today’s generations of youths will not only witness the Environmental Revolution, but will have opportunities to help it come to fruition while making a living. As the environmental industry grows, ‘green’ careers will be in abundance. The best thing that you as an individual can do right now to aid this revolution is to become well informed, and if you have discovered TakingITGlobal, then you are on the right track. I highly recommend attending next year’s University of Waterloo Environment and Business Conference, from which you will be able to pick up some excellent information, network with likeminded people and learn from inspiring speakers. Similar conferences occur around the world.
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