One of the biggest problems facing businesses in the modern world is the issue of the green economy. The green economy has the potential to completely transform how many businesses operate, where they invest their money, how they conduct their business operations, and much more. The emergence of the green economy is not something that should be ignored, even for consumers – but especially if you’re running a business. Leading research by Deloitte suggests that consumers are becoming increasingly concerned with sustainability – and you need to make sure that you’re keeping up with the changes.
For example, in the study by Deloitte conducted in 2023, they found that a quarter of average consumers are now more concerned with a product’s sustainability than they are with price – which is an astounding figure. This means that a significant proportion of the population now place the sustainability of a product over one of the most significant indicators of market success. If you want to ensure that your company stays ahead of the curve and knows what to do to thrive in the green economy, you should start preparing now. Here are all the ways you can prepare for the sustainability wave in your workplace – but first, what is the green economy?
What Is The Green Economy?
The green economy refers to an economic system that is based around sustainable and environmentalist principles. Essentially, every part of the economy will be focused around protecting the planet’s natural resources and preventing climate change, environmental damage, and the destruction of the ozone layer. Each part of the economic system will focus on reducing risks to our planet, and will promote sustainability and green living. This will be seen in a variety of different ways – various industries will focus on investing in green jobs and how green skills can transform the industry to include more sustainable principles. Businesses that are investing in green skills and sustainable development will be considered part of the green economy.
The green economy is already starting to take hold – and eventually it will become a macroeconomic approach. This will mean that many jobs and businesses will have sustainable pledges and goals to achieve – as well as making their everyday operations more sustainable. The green economy is set to change almost every industry in current operations, so you need to make sure that you’re preparing for it.
For example, the construction industry is set to be changed quite significantly because of the push for sustainability. At the Paris Climate Agreement, most countries committed to achieving net zero by 2050 – which means a lot of work will need to be done across every sector, with construction being one of them. Not only will hundreds of thousands of green homes need to be built, but retrofit work will need to be carried out on existing homes and buildings. Retrofit will make these buildings energy-efficient, and significantly reduce the amount of energy that needs to be used. In order to complete this retrofit work, construction workers will need to upskill and get certain qualifications. In the UK, many workers are getting construction NVQs in insulation installation, solar panel installation, and fenestration – which are all key parts of retrofit. These occupational roles help homes become more energy-efficient as they prevent energy from escaping – meaning you can use less energy to heat homes. This will become a huge task – in the UK, over 200,000 thousand homes and buildings will need to be retrofitted in order to meet net zero goals by 2038.
How To Prepare Your Company For The Green Economy
There should be multiple steps that you consider when you prepare for the green economy – such as changing the structure of your everyday operations to be better for the planet. For example, you can start by reducing the amount of energy you use in your work, and encouraging staff to prevent the wastage of water. Furthermore, you can also invest in promoting green skills training for your staff, so that they have the right skills to protect the sustainability of your business and are more aware of what the green economy is.
Holding company-wide training programmes and seminars on the importance of sustainability and green living is one of the best things you can do to prepare for the green economy in your workplace. You should also be looking at eco organisations and other companies who are promoting green living and sustainability – to help you get an idea of where to start.
Changing your whole company and transforming it to be more eco-friendly can be a daunting task – but with the right planning and help, you can get this done. You need to start as soon as possible to ensure that your workplace is prepared for the green economy – so make sure that you’re starting as soon as possible.