Tuesday, July 30, 2019

Go for Green Entrepreneurship

Defining green entrepreneurship is not an easy task. The concept itself is relatively new and has been receiving attention since the 1990s. According to 'Entrepreneurship at a Glance 2011 © OECD, "A green entrepreneur can be either making her business “green” or simply entering a “green business”. In other words, green entrepreneurship could be defined in terms of the technology used for production in any sector of the economy, or in terms of the sectors firms are active in, in which case our attention is restricted to parts of the economy producing specific types of output. The former is sometimes referred to as a process approach in defining green business, while the latter as an output approach." 

"Today what we need to learn to do is optimize the use of energy and water. There are enormous opportunities in tightening up processes to transform the built environment, in particular through how we deal with energy. It is a massive undertaking, and it is going to touch nearly every aspect of our lives, but it is also going to be an incredible source of opportunity for entrepreneurial activity," emphasize Aashish V. Karode, Principal, Planning and Design Services, Design Atelier, New Delhi.

Sustainability is a balancing process and its objective is to find a balance between our current requirements and those of future generations; between economic, social and environmental impacts; between the needs of various communities and populations.

The goal of green entrepreneurship is to consciously address an environmental/social problem/requirement through the realization of entrepreneurial ideas (some or higher level of risk) which has a net positive effect on the natural environment and at the same time is financially sustainable. Green entrepreneur, thus, is someone who starts and operates an enterprise that is designed to be green in its products and processes from the very moment it is set up.

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