Saddle up, here’s everything you need to know.

A green economy is one that grows within the limits of the planet and its resources. Geared towards responsible consumption and production, a green economy is low carbon, resource-efficient and socially inclusive. It focuses on quality not quantity, driving GDP whilst tackling climate change and promoting sustainable development.

In other words, green growth promotes the future of our planet and people alongside profit. The image above reflects how I think we could all feel when a global green economy is achieved (that’s eco-friendly confetti, of course).

Why do we keep hearing about the green economy?

In November 2020, the British PM outlined a Ten Point Plan to boost the green economy in the wake of Covid-19. The green recovery intends to bolster the British economy and drive the environmental revolution post-pandemic. This includes creating 25,000 green jobs; investing in renewable energy and carbon capture and storage; cleaning up transportation; and enhancing biodiversity.

What does a green economy mean for the private sector?

Businesses, both big and small, play a vital part in building a green economy and getting us to net zero. The first step would be recognising the urgency of global environmental, social and economic challenges, as outlined by the UN in their Sustainable Development Goals (SDGs).

As governments roll out new climate legislation, a truly future proof business should work towards decarbonising their operations and reducing resource waste as a matter of urgency. What emissions are left over should be negated by investments in high-quality, permanent offsetting projects. 

In order to truly get the green economy off the ground, however, organisations must build up a culture around sustainability from top to bottom. This is where Pawprint comes in: we help businesses grow by making climate part of everyone’s job, thus unlocking profit and innovation throughout the company. With us, a green culture grows from within. 

Sustainable economic growth also means promoting diversity and the creation of decent jobs with fair wages. Corporate social responsibility is no longer a ‘nice to have’ – it must become a pillar of your business if it’s to thrive into the future. The private sector has a massive role in driving our world towards net zero—and there is no green transition without a just transition that empowers everyone. 

Wondering where you should start? We have a few ideas of some green practices and targets you could set straight away. 

What’s in it for businesses?

Our shared future aside, the good news is a green and inclusive business model is also a highly profitable one:

• Circular production cuts costs as well as waste. Reusing materials saves you money in the manufacturing process, and makes you less dependent on your supply chain.
• An ethical business equals competitive advantage. People are becoming more conscious of how and where they’re spending their money—making sustainability a core tenet of your company will help you stand out from the field. 
• Diversity leads to profit. According to a study conducted by Harvard Business Review, diverse companies are 70% more likely to capture a new market audience.
• Happier workers means better workers, as well as improved recruitment and retention of the industry’s top talent.
• Why wait to future proof against inevitable climate tax and legislation? It's coming for good reason, so better to jump on the bandwagon early.

To go green, you’ve got to mean business (pun intended). It may seem like a mammoth mission—and I know firsthand that you can’t always get it right on the first go —but don’t feel overwhelmed! It is quite literally our job to help. Get in touch and find out how Pawprint can help transform your business for the green economy.