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With the cause for environmental concern rapidly growing because of the fallout of global warming and climate change, there has been a drastic shift of attitudes from traditional practices towards more eco-friendly alternatives and increased stress on personal accountability. This change has been seen in almost every single sphere of life— from entertainment sectors to industrial realms, from homes to public spaces.
Most recently, with the growing consciousness of sustainability, this shift has also affected the entrepreneurial world. In this article, we will discuss what green entrepreneurship is and some great startup ideas based on this novel concept.
What is Green Entrepreneurship?
The GREENT Project describes Green Entrepreneurship as: “the activity of consciously addressing an environmental/social problem/need through the realization of entrepreneurial ideas with a high level of risk, which has a net positive effect on the natural environment and at the same time is financially sustainable.” The idea is not an ultra-modern, groundbreaking one, for the movement first appeared in the 90s with Gustave Berle’s pioneering use of the term ‘Green Entrepreneur’ in his 1991 book called The Green Entrepreneur: Business Opportunities That Can Save the Earth and Make You Money. He perhaps described this idea best and most succinctly by saying that “Green entrepreneurship is taking responsibility to create the world we dream of.”
Green Entrepreneurship thus has its foundation in the idea of dual sustainability. On one hand, it seeks to create eco-friendly, green products that do not put a strain on the Earth’s resources, through sustainable methods and factors of production. On the other hand, like all business ventures, it also aims at the financial sustainability of the business model and practices itself.
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