Socially responsible entrepreneurship or environment social and corporate governance (ESG) creates a green industry, which helps to solve environmental problems through the development of innovative solutions.
Some companies go green either to reduce environmental harm or to gain consumer support. Whatever the purpose, the aim is to reduce carbon footprints and aim for a carbon-neutral future.
It is a young industry and has seen a renewed interest with the threat to the global environment due to climate change.
The green industry is not an easy place to do business. Investors and entrepreneurs have the added burdens of being sustainable, profitable and beneficial to the people and the planet. A 2018 United Nations report states that global investment in renewable energy and green processes was more than $200 billion in 2017, and the 21st century has seen more than $2.9 trillion in investments in solar and wind power industries.
In 2017, the developing countries outspent the developed with an investment of $177 billion. The balance has somewhat changed with the developed world waking to the climate change threat. The green-tech market is pegged at more than $1 trillion.
Renewable energies make up 11.5 quadrillion BTUs of consumption in the United States, which was only 11% of the total energy use in 2018. Biomass and hydropower represent 67.8% of the sustainable resources that the country consumes. (University of Michigan)
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