From exploiting the earth for capital resources to establishing environmentally-friendly industries, the world has seen many revolutions. Finally the idea of the “Law of Progress” took shape and human progress got linked with economic growth.
The exploitation of natural resources has pushed the world close to extinction
Due to deforestation, excessive use of fossil fuel, and exploitation of natural resources, the carbon cycle got disturbed which resulted in the damaged ozone layer.
This resulted in cyclones, a rise in the water level, desertification, change in rainfall patterns, heat waves, and droughts that have caused more than 1,50,000 deaths in a year.
To save our planet, there is an urgent need for self-sustainability and self-sufficiency. These words were always in the dictionary but development was linked with sustainable environment protection for the first time in 1992.
The United Nations Conference on Environment and Development (UNCED) was held for the first time in the year 1992 in Rio de Janeiro, Brazil. Nearly 180 states signed the conference’s Rio Declaration.
Environmentally-friendly Industry is becoming increasingly popular and attractive as a business. Environment-friendly industries are also called eco-friendly or nature-friendly and are innovative approaches to solve the problems of waste, energy shortage, and degradation of the environment.
These companies are making bold commitments to save the environment at various levels and consumers are also becoming more aware and educated towards the environment, according to Capgemini’s research study, 79% of consumers are changing their purchase preferences based on social responsibility.
From huge multinational companies and local businesses to the meaningful growth in green franchise opportunities, this industry is growing in its best way.
There is a method of quantifying the environmental performance of a country’s policies, the Environmental Performance Index (EPI). The 2020 Environmental Performance Index ranks 180 countries.
These measurements also allow countries to see how close they are to their established environmental policy goals.
Various new initiatives are taken in the environmental friendly Industry such as Resource Efficient and Cleaner Production (RECP), Cleaner Production (CP), The Stockholm Convention and Persistent Organic Pollutants (POPs), The Montreal Protocol (MP), Corporate Social Responsibility(CSR).
The Indian Government has made a clear commitment to achieving industrial growth while protecting the environment. At the same time, the private sector is also interested in adopting modern processing techniques for clean and resource-efficient industrial production.
Sustainable trends of the environmentally-friendly industries in 2020 are reduction of energy consumption, reducing dependence on fossil fuels, investing in clean energy and transportation, the push towards zero emissions, and the rise of technology (wind turbines, photovoltaics, electric vehicles, battery storage, microgrids, and other distributed energy resources).
This revolution of the industry is a tough phase for the business, as this is long term survival but it is worthwhile as it is serving the mother earth.