Pioneers, Arrows, and the Green Economy
Weird title? Well, retiring in Green Economy is even stranger.
Over the years, I have been fortunate to work in various sectors such as sustainable agriculture, energy efficiency, renewable energy, and waste management. My passion for the environment and sustainable development has driven me to pursue a Master's degree in Economy with a specialisation in Environmental Economy. I started defining myself as a Green Economy pioneer more than 15 years ago; I co-founded several organisations, supported several initiatives and executed projects, and created two web portals. I even went to the most prominent electricity companies in the country and convinced them to pursue energy efficiency projects by sending concept notes for Green Climate Fund.
Pioneers
However, today marks a significant turning point in my life. I made a retrospective and saw that some initiatives are fruitless just because they were before the time. Even with the energy crisis and the late events from climate change, it is business as usual.
“You can recognize a pioneer by the arrows in his back.” — Beverly Rubik
I have decided to retire from my current focus on the Green Economy. This decision stems from my growing realisation that the green Economy, while essential, has yet to be as impactful as I had hoped. From all my efforts, I only received arrows in my back :).
The future lies in integrating sustainability with the broader economic landscape, focusing on start-ups, investments, and innovation. In this new chapter, I will continue championing the green Economy, but my approach will emphasise financial efficiency in terms of savings and productivity.
Sustainable development is the only viable option for businesses and economies. Companies that achieve steady growth and build the market system often have a strong relationship with sustainability and the environment. However, for the Green Economy to truly thrive, it must be recognised as the Economy per se. This means energy and resource efficiency should be synonymous with finance efficiency.
Let’s dive into the etymology of the word economy.
economy (n.) 1530s, “household management,” from Latin oeconomia (source of French économie, Spanish economia, German Ökonomie, etc.), from Greek oikonomia “household management, thrift,” from oikonomos “manager, steward,” from oikos “house, abode, dwelling” (cognate with Latin vicus “district,” vicinus “near;” Old English wic “dwelling, village,” from PIE root *weik- (1) “clan”) + nomos “managing,” from nemein “manage” (from PIE root *nem- “assign, allot; take”).
economy (adj.) 1821 as a term in advertising, at first meant simply “cheaper,” then “bigger and thus cheaper per unit or amount” (1950).
In the Macedonian language, we have one synonym for the Economy which is in line with this etymology — домаќинство. It can also be translated into domestic or household. Furthermore, it can freely translate into restraint in spending money or clever use of resources.
And that should Economy stand for — clever use of resources. That in essence, is the Green Economy :).
Arrows
To illustrate this point, let us explore a few examples of how energy efficiency, waste management, and resource repurposing can lead to significant financial savings and increased business profitability.
Energy Efficiency: The Power of Savings. One of the most straightforward ways to achieve financial efficiency is by implementing energy-efficient business practices. By reducing energy consumption, companies can significantly reduce operational costs, increasing profitability. For instance, a manufacturing company can install energy-efficient equipment, such as LED lighting or energy-saving heating and cooling systems, to reduce energy consumption. This leads to lower energy bills and a more sustainable business model. Moreover, energy efficiency can also lead to indirect savings, such as reduced maintenance costs and extended equipment lifetimes.
Waste Management: Turning Trash into Treasure. Effective waste management is another critical aspect of achieving financial efficiency in businesses. Companies can minimise their environmental impact by implementing waste reduction and recycling initiatives while reducing waste disposal costs. For example, a restaurant can implement a food waste management system that turns food scraps into compost, which can be used to fertilise a garden or sold to local farmers. This reduces the amount of waste sent to landfills and creates a new revenue stream for the business.
Resource Repurposing: The Art of Doing More with Less. Resource repurposing is a practice that involves finding new uses for existing resources, thereby reducing the need for new materials and lowering input costs. For example, a textile manufacturer can repurpose fabric scraps to create new products, such as rugs or accessories, instead of discarding them. This reduces the company's waste generation and leads to cost savings by utilising materials that would otherwise be discarded. Resource repurposing can also help businesses tap into new markets and customer segments, ultimately boosting their bottom line.
Innovation and Investment: The Path to a Sustainable Economy. As we move towards a more sustainable future, technological innovation and investment will be critical in driving (a green) Economy. For example, advancements in battery storage technology can help businesses store excess solar energy and use it during peak demand periods, reducing their reliance on the grid and lowering their electricity costs. Similarly, investments in electric vehicle fleets can help companies reduce their carbon footprint and save on fuel expenses while also promoting the growth of the electric vehicle market.
Innovation in renewable energy sources, such as solar, wind, and hydro, is essential for diversifying the energy mix and reducing dependence on fossil fuels. This benefits the environment, creates new job opportunities, and stimulates economic growth. In addition, investment in research and development of these technologies can lead to breakthroughs that make renewable energy more efficient and cost-effective.
Another area of focus is the development of sustainable infrastructure, such as green buildings, efficient transportation systems, and smart grids. These innovations can significantly reduce energy consumption, emissions, and waste while improving citizens' overall quality of life. Governments and private investors must collaborate to fund and implement these projects, as they often require significant upfront investments but have long-term benefits.
I remain committed to promoting a green economy and sustainable development. My approach will now focus on demonstrating the financial benefits of sustainability, emphasising the importance of economic efficiency in terms of savings and productivity. By merging the worlds of innovation and investing, I believe we can create a future where businesses thrive alongside a healthy, sustainable environment.
