Green is more than a colour. Green symbolizes life; every living thing receives life from green plants that in turn depend on each other for survival.
Businesses whether small, medium or large corporation existence in the long run will depend on how green they are. That is, their contribution to social wellbeing and environmental sustainability and not just their profitability or contribution to shareholders’ value. A business that is thinking green must be thinking about the environmental stakeholders – including governments, the scientific community, educational institutions, public interest groups and the general public.
Green business strategies and activities meet the needs of the enterprise and its stakeholders today while also protecting, sustaining and enhancing the human and natural resources that will be needed in the future (World Commission on Environment and Development).
It highlights business dependence on human and natural resources in addition to physical and financial capital. The business, human and natural resources are in mutual relationship; each of the trio has its own contribution in the relationship and is dependent on others. Failure of any of the participants will lead to a recoiling effects on not only others but also the one that is at default. It therefore follows that business activities must not irreparably degrade or destroy these natural and human resources.
The concept of “green business” like many terms in this emerging market, can take on different meanings based on context and speaker. Green For All defined a green business as one that does a minimum of four things:
preserves or enhances environmental quality;
provides family-supporting wages and benefits, with safe working conditions;
provides access to training and a clear career track; and
is inclusive of gender, race, geographic and age diversity, and many more issues…
Green business may be cost intensive but this cannot be compared to the long run cost implication of not implementing it.
To be continued…