As the world continues to combat climate change and promote sustainability, there are more and more calls for a green economy, to help ensure that we do not continue contributing to environmental damage. From cutting waste and leaks to building smarter homes, a green economy could revolutionize how we live and improve our environment and planet for generations to come. Below, we’ll detail what a green economy would look like and what steps are being taken to get there.
Waste has often been rightly criticized as one of the principal offenders when it comes to the processes that create global warming or otherwise damage pristine environments. However, waste reduction has become a priority for many localities and governments in an effort to combat climate change. For many, a circular economy, where resources are recycled once used is part of the answer. For example, a plastic bottle in addition to being used for single-use drink could be recycled into part of a permanent multi-use water bottle instead of creating more plastic.
Creating more energy-efficient homes
Millions of Americans spend a considerable amount of time at home using appliances and heating and cooling systems that use energy in a sometimes wasteful way. One of the first tactics that can be used to control heating and cooling costs is insulating homes, offices, and other businesses in order to keep the ideal temperature in. This process has an added benefit of creating jobs for those who will install insulation, and encourages a shift to more energy-efficient systems for home heating and cooling, drawing less energy from power systems. Additionally, energy-efficient appliances can help promote a green economy by reducing electricity and water use as we wash and dry our clothes and do our dishes.
Policy incentives for the green economy and sustainability
Policymakers and large businesses also play a key role in promoting the green economy, sustainability, and combating climate change. Creating a green economy will involve a pivot to alternative energy sources, as we’ve seen through the Biden administration’s urging and the introduction of various new plans in Congress, in addition to working to change various materials used in the production of certain items. In order to speed the transition to a green economy, both federal and state policymakers will also likely provide tax or other incentives to individuals and businesses in order to replace existing appliances, cooling and heating systems, and, in the case of some businesses, even fleets of vehicles from gas to electric powered.
What’s next for a green economy and what can we expect?
As energy-efficient appliances, vehicles, and other tools become more affordable, we can see some of this green economy reorientation happen naturally through consumer choice. Undoubtedly, policymakers have a role to play in accelerating any change that will pivot our economic system to one that focuses on sustainability. However, immediate change is unlikely and we can expect to see these types of initiatives continue to progress over the next few years.