The Business Outlook for the "Green" Economy
- By Connie Mixon
- Nov 19, 2007
The business of protecting, improving, and providing information related to the global environment is growing. This emerging “green” economy has a solid base and the trends are very positive.
A recent Wall Street Journal article identified a fast-growing, environmentally conscious group wielding influence on purchasing decisions that impact the environment. They are dubbed the “Inconvenient Youths,” school-age children who are being educated and conditioned to be environmentally aware. They will exercise influence with their purchasing power as they age.
Collectively big players, such as GE, Alcoa, Dupont and Caterpillar, along with other companies, have formed the U.S. Climate Action Partnership (USCAP), whose goal is to foster a mandatory, economic-based climate protection plan through cooperation with the U.S. government. While viewed as environmental good stewards, these companies also stand to gain financially from the sale of products and services that fill the void that exists in many environmental applications.
The trends are promising. For example, while contributing only 6 percent to total revenues, sales generated from GE’s Ecomagination initiative increased 63 percent last year to $10 billion. The fact that USCAP exists indicates that the group knows new regulations are coming and that it is better to influence and help craft future environmental regulations than have no input into the process.
From grassroots education to executive suites of the world’s largest companies, the “green” economy is gathering steam. The winners in this new economy will be the companies that realize that greener practices translate into greener bottom lines.
This article originally appeared in the 11/01/2007 issue of Environmental Protection.
Connie Mixon is CEO of MYCELX Technologies Corp. in Gainesville, Ga. Her business experience includes 18 years in institutional global market sales with major investment banking firms. Prior to joining MYCELX Technologies, she held the position of director in global markets for Deutsche Bank Securities.