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Tag: Green Business

  • How to Profitably Integrate Eco-Friendly Practices into Your Business | Entrepreneur

    How to Profitably Integrate Eco-Friendly Practices into Your Business | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Today, consumers are increasingly prioritizing doing business with companies that can clearly demonstrate a commitment to improving the world around them. These drivers can range from supporting important social issues to providing eco-friendly products. In fact, over 40% of consumers admit that they are more likely to purchase products or services from businesses that embrace sustainability. For this reason, it should come as no surprise that nearly 100% of all S&P 500 companies have environmental and sustainability goals.

    Within the small business community, there is a misconception that ESG (environmental, social, and governance) initiatives are something only large corporations can afford to implement. This couldn’t be further from the truth. For small businesses and entrepreneurs, sustainability efforts can actually improve operational efficiency, increase customer demand and boost profitability. Here are six easy ways small businesses can capture the financial benefits of sustainability.

    Related: How to Harness the Power of Sustainability in Small Business to Drive Profits and Capital

    1. Implement energy-efficient solutions

    Many businesses require a lot of energy to operate, especially if they have a manufacturing center. One of the easiest and most effective ways to embrace sustainability is by implementing solutions that reduce the amount of energy consumed by the business. These actions include upgrading to LED lights, installing smart thermostats, replacing fossil fuel vehicles with EVs and changing out appliances for energy-efficient models.

    In addition to reducing energy consumption, businesses can also embrace clean energy generation by installing solar panels or purchasing renewable energy credits to help offset the use of fossil fuels. Ultimately, lower energy costs can directly reduce your operating expenses increasing your profit margins. Also, promoting your commitment to renewable energy is a powerful marketing tool to help attract environmentally conscious consumers and enhance your brand reputation.

    2. Develop eco-friendly products

    Consumers are becoming increasingly aware of the toll that consumerism plays on the world’s natural resources. Cheap, disposable products like single-use plastic and fast fashion are quickly losing their appeal. Durable products, especially those made from recycled or sustainable materials, are currently in high demand.

    Depending on the materials used, businesses can save money on raw materials by building eco-friendly products. Even better, some products could transition to entirely digital formats requiring no physical resources. For example, a small publishing company could move to eBooks rather than physical print. Another benefit is that consumers will often pay a premium for products that are sustainably produced.

    3. Embrace circular economy principles

    The circular economy is an economic system that is based on the reuse and recycling of products and materials. Designing products that use recycled materials is just scratching the surface. Additional circular economic practices include take-back schemes, refurbishment programs and refill systems. For example, a technology company can incentivize customers to return old devices for refurbishment, which reduces waste while encouraging repeat purchases. These old devices can then be resold at a discount on second-hand markets, creating a new source of revenue.

    Related: How the Circular Economy of Consumer Electronics Can Change Sustainability

    4. Promote remote work and flexible schedules

    Labor is often one of the highest operating costs for small businesses. Many companies are embracing and promoting opportunities for their team to work remotely or switch to flexible, hybrid schedules. From an environmental standpoint, this can help reduce the company’s overall carbon footprint by eliminating or minimizing greenhouse gas emissions from commuting.

    From a business perspective, offering remote work can support employee well-being and productivity. It can also help the company save money on office space and salaries by allowing them to recruit employees from regions that have a lower cost of living.

    5. Leverage lean manufacturing

    Another effective strategy to cut costs and reduce resource consumption is by embracing lean manufacturing processes. By streamlining production processes and minimizing waste, businesses can improve their manufacturing timeframes and lower production costs. The savings associated with improved efficiency can then be applied to widening your profit margins or allowing you to offer better pricing compared to your competitors.

    6. Use local suppliers

    Consumers are tired of the same old, mass-produced products. Sourcing materials and products from local suppliers can provide the perfect balance between customer demands and sustainability. By working with local suppliers, small businesses can lower their carbon footprint by reducing transportation emissions and save on shipping costs while stimulating the local economy.

    Related: I Use These 7 Methods to Make My Business More Eco-Friendly — Maybe You Can Use Them, Too.

    Integrating eco-friendly practices into your business isn’t just the right thing to do for the planet. It can also lead to significant financial benefits. By embracing sustainability, companies can deliver the services and products that consumers want while setting themselves up for long-term success.

    Nicholas Leighton

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  • What the SEC’s New Climate Transparency Rules Mean for You | Entrepreneur

    What the SEC’s New Climate Transparency Rules Mean for You | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Discussing sensitive topics can be challenging for business owners. This is one of the top three or four reasons I receive initial calls for public relations assistance addressing a hot-button issue. The latest confusing trend is sustainability and how to talk about it openly. Surprisingly, people need clarification about how much to talk about it, why it’s important and when to bring it up. There’s even a new word for this fear: “greenhushing.”

    The most recent bit of pressure on companies regarding eco-messaging is the U.S. Securities and Exchange Commission’s (SEC) recent efforts to enforce regulations that protect investors and maintain market integrity. Basically, the SEC has revised environmental transparency rules and introduced mandatory climate risk disclosures for public companies.

    This is the first time a sustainability mandate has emerged nationally, and it’s expected to have a notable impact. In my opinion, even for private companies, it’s a call to pay attention and stop neglecting this discussion.

    We are entering an era where climate objectives, targets and governance frameworks will become mandatory in corporate reporting. This shift also aligns with the increasing consumer demand for environmentally and ethically sustainable products — a trend that, despite its popularity, has seen many companies struggle to translate into tangible demand.

    Related: Sustainability for Entrepreneurs — Why It Matters (and How to Achieve It).

    The paradox of consumer demand and greenwashing

    Consumers’ enthusiasm for sustainable products often starkly contrasts with their actual purchasing behavior. While surveys indicate a robust desire for sustainability, sales frequently need to catch up to expectations for new, environmentally conscious products. This discrepancy is exacerbated by greenwashing — where claims of environmental stewardship are not backed by practice — further eroding consumer trust and complicating the landscape for genuine initiatives.

    I’d counsel any company today to prepare for sustainability discussions and engagement. It is now an unavoidable topic. Because I have been a fractional CMO and external public relations consultant since 2002, I’ve received many calls from companies facing these watershed moments. Here is the advice I’d give a leadership team aiming to be more vocal about sustainability.

    The imperative of transparency

    In this context, the necessity for transparency is undeniable. Beyond mere regulatory compliance, transparency is crucial for cultivating consumer trust and loyalty. Companies must now proactively measure and refine their approaches to climate change, so this journey has got to start with a comprehensive understanding of your environmental footprint, including greenhouse gas emissions, resource utilization and waste generation.

    Typically facilitated by external consultants or an internal sustainability team, this foundational assessment is critical for setting realistic sustainability goals and improvement strategies. Employing standardized tools and frameworks like the Greenhouse Gas Protocol and Life Cycle Assessment provides a methodical approach to this task and will result in data and benchmarks you can use consistently in your messaging efforts.

    Armed with this data, specific and time-bound goals can be set that meet compliance requirements (if necessary) and drive significant environmental and social improvements. Engaging stakeholders, particularly employees, at this stage, helps bring to the surface any practical concerns and integrate these insights into the goal-setting process.

    Related: 70% of Consumers Say They’ll Buy ‘Green’ Products, but Only 5% Actually Do. That’s Due to a Common Marketing Mistake By Eco-Friendly Brands.

    The role of public relations in implementation

    Public relations in the realm of sustainable messaging goes beyond just issuing press releases. PR is a strategic tool for amplifying and embedding climate-change initiatives into the corporate ethos. Compelling storytelling highlighting a company’s progress and impacts on sustainability can significantly boost its reputation and foster third-party credibility.

    Leveraging various channels — from press releases and social media to comprehensive sustainability reports — enables these stories to reach and resonate with a broad audience, sparking engagement and advancing the sustainability agenda.

    Cultivating a sustainability-centric culture internally is essential. Companies can ensure that sustainability principles are deeply ingrained in every aspect of their operation through regular educational programs, active participation in sustainability initiatives and acknowledgment of individual and team contributions. This not only reinforces the company’s commitment to sustainability among employees but also mobilizes them and other stakeholders as ambassadors of these values.

    Continuous monitoring and evaluation of sustainability initiatives and how they are being perceived in public are vital measurement points to consider when assessing progress. Like any meaningful initiative, setting and tracking key performance indicators (KPIs) allow companies to measure effectiveness and identify areas for improvement. Further, engaging with employees and stakeholders through feedback will enrich this process and provide real-world insights.

    It seems counterintuitive, but in my experience, challenge is often in partnership with opportunity. Tackling tough subjects can uncover opportunities for innovation, stakeholder engagement and corporate accountability that otherwise would’ve been dormant. Talking specifically about sustainability is not always about compliance. It is a chance to appeal to buyers and lead the market with integrity, innovation and vision.

    Christine Wetzler

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  • Unlock Profitable Sustainability with Green Tax Credits | Entrepreneur

    Unlock Profitable Sustainability with Green Tax Credits | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    This story originally appeared on Under30CEO.com

    The world is facing increasing environmental challenges, which has led businesses to seek eco-friendly practices to decrease costs and contribute to a greener future. By employing tax credits and incentives that encourage sustainability, companies can optimize profits while benefiting the planet. This extensive article will delve into various tax credits, like Green Tax Credits, and deductions available to businesses that adopt environmentally friendly practices, ultimately contributing to the burgeoning green economy.

    Green vehicle tax credit

    One such tax credit available to businesses is the Green Vehicle Tax Credit, which incentivizes the use of eco-friendly vehicles and services. The credits associated with this include the Alternative Motor Vehicle Credit, Alternative Fuel Vehicle Refueling Property Credit, and Biodiesel and Renewable Diesel Fuels Credit. Utilizing these credits can propel businesses to adopt sustainable transportation options while leading to significant cost savings and reducing emissions.

    Related: How to Harness the Power of Sustainability in Small Business to Drive Profits and Capital

    Investment tax credits for equipment

    Businesses can also take advantage of investment tax credits when purchasing qualifying equipment that adheres to specific performance and quality standards. Examples of this include solar energy property, qualified fuel cell property, and qualified small wind energy property. These credits significantly reduce the costs of installing and implementing eco-friendly technologies while promoting a sustainable future and increasing competitiveness in the global market.

    Solar investment tax credit

    Another valuable credit is the Solar Investment Tax Credit, which offers a 30% credit under the Inflation Reduction Act and Federal Investment Tax Credit. Businesses must meet particular regulatory requirements while receiving credit for expenses such as solar PV panels, racking, equipment systems, installation costs, energy storage devices, and other related expenses. This credit is claimed through Form 3468 and has proven pivotal in promoting renewable energy technologies and clean solar power solutions.

    Related: A Leadership Roadmap for Sustainability Success

    Ownership of solar PV systems

    Companies must be aware that to qualify for the Solar Investment Tax Credit, they must retain ownership of the solar PV system for six years, during which they must maintain and monitor the system’s performance. Additionally, local and state regulations may impact eligibility for tax incentives or benefits, so it is essential for businesses to remain informed on these matters.

    Green building deductions

    Businesses can accrue green building deductions by upgrading commercial buildings to feature high-energy systems, resulting in a more eco-friendly space. Qualifying upgrades include high-efficiency HVAC, hot water systems, interior lighting, and efficient building envelopes like walls, floors, doors, windows, and roofs. These upgrades contribute to long-term cost savings while promoting eco-friendly and sustainable environments.

    Conclusion

    In conclusion, various tax credits and incentives are presented to businesses that adopt environmentally friendly practices, such as the Green Vehicle Tax Credit, investment tax credits for qualifying equipment, Solar Investment Tax Credit, and green building deductions. By capitalizing on these incentives, businesses can achieve long-term benefits like energy savings, reduced emissions, and positive public relations while contributing to a sustainable environment.

    Utilizing these opportunities enables businesses to both reduce expenses and minimize their environmental footprint. Implementing eco-friendly practices not only conserves natural resources but also elevates a company’s reputation and brand image. Employing sustainable methods like energy-efficient technology, waste reduction, and the use of recycled materials can result in considerable long-term savings and demonstrate a commitment to environmental responsibility.

    April Isaacs

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  • 8 Practical Ways to Reduce Your Office’s Environmental Footprint | Entrepreneur

    8 Practical Ways to Reduce Your Office’s Environmental Footprint | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    This story originally appeared on Under30CEO.com

    The world is increasingly aware of the importance of environmental conservation and businesses are under growing pressure to adopt sustainable practices. Companies can start by making a positive impact within their own offices. Reducing their environmental footprint allows businesses to attract environmentally-conscious customers and contribute to a healthier planet.

    Consumers are becoming more conscious of the businesses they support, with 85% admitting to shifting their purchasing habits toward green companies, and 34% would pay more for a product or service from a sustainable business. To remain up-to-date and keep a loyal customer base, businesses must establish more eco-conscious practices. Here are eight practical ways you can reduce your environmental footprint from the office.

    1. Reduce, reuse, recycle

    Implement a comprehensive recycling program in your office. Provide clearly labeled bins for plastic, glass, paper and other recyclable materials. Encourage employees to reduce waste by printing documents only when necessary and selecting double-sided printing. Reusing items like envelopes, binders and office supplies can also make a substantial difference.

    2. Implement energy efficient measures

    Optimizing energy use is one of the most effective ways to reduce an office’s environmental impact. Start by switching to energy-efficient lighting, like LED bulbs and ensure you turn lights and electronics off when not in use. Consider investing in programmable thermostats to regulate heating and cooling systems efficiently. Additionally, encourage employees to use natural light when possible, reducing the need for artificial lighting.

    Opt for automated appliances with smart technology designed to save energy. Monitor your utility bills and energy usage, saving your building between 10%-15% in costs. Determine where you can further cut costs by investing in automated appliances, like your heating and cooling systems, bathroom appliances and updating office equipment.

    3. Consider telecommuting and flexible work arrangement

    Telecommuting and flexible work arrangements reduce an office’s carbon footprint and improve work-life balance for employees. Fewer employees commuting to the office means reduced vehicle emissions and lower fuel consumption within the office itself. Embracing remote work can also lead to cost savings on office space and utilities.

    Related: Remote Work Is Here to Stay: Are You Ready for the New Way of Life?

    Additionally, working from home can improve employees’ mental well-being and boost their productivity, allowing them to maintain a better work-life balance.

    4. Invest in renewable energy

    Transitioning to renewable energy sources, like solar panels or wind turbines, can significantly decrease your office’s reliance on fossil fuels. While the initial investment may be substantial, the long-term benefits include reduced energy bills and a smaller carbon footprint. Depending on your location and budget, explore options for clean energy that best suit your needs.

    More and more companies are moving toward renewable energy options. In the U.S., 20% of all electricity generated comes from renewable sources. These companies include Estee Lauder, Bank of America, Sephora and Google.

    5. Offer green transportation options

    Encourage eco-friendly transportation options for employees. Promote carpooling, biking, walking or using public transport to reduce the number of single-occupancy vehicles on the road. Consider providing incentives, like subsidies for public transport or bike-sharing memberships, to encourage sustainable commuting choices.

    Not only does this benefit the planet, but businesses can save between $2,000–$6,000 per employee per year by allowing them to telecommute half the time.

    6. Implement water conservation measures

    Water conservation is another vital aspect of reducing your office’s environmental impact. Fix any leaks immediately, install low-flow faucets and toilets and educate employees about the importance of using water sustainably. Collect rainwater for landscaping and consider xeriscaping (using drought-resistant plants) to reduce the need for irrigation.

    Other ways you can save water in an office include:

    • Implementing water recycling systems
    • Considering sensor taps and toilets
    • Monitoring water usage
    • Using water-efficient appliances
    • Regularly maintaining and updating water fixtures

    7. Source sustainable office supplies

    Choose office supplies and equipment that are manufactured using sustainable materials and practices. Look for products with certifications like Energy Star, FSC (Forest Stewardship Council) or Cradle to Cradle. Additionally, buy office furniture made from recycled or reclaimed materials and opt for refurbished electronics when possible.

    Related: 4 Reasons Sustainability Will Benefit Your Business and Satisfy The Growing Trend of Green-Hungry Customers

    Here are some sustainable office supplies to consider sourcing for your eco-friendly office:

    • Recycled paper and notebooks
    • Refillable ink and toner cartridges
    • Pens and pencils made from sustainable materials
    • Reusable and washable cloth napkins and cutlery for the kitchen
    • Eco-friendly cleaning products
    • Sustainable packaging for shipping and storage

    8. Create a culture of sustainability

    Creating a culture of sustainability within your office is essential for long-term success. Encourage employee engagement by organizing workshops, green challenges or sustainability committees.

    Recognize and reward employees who actively contribute to reducing the office’s environmental footprint. Leading by example and promoting eco-friendly practices can inspire positive organizational change.

    A Greener future

    Reducing your office’s environmental footprint is a responsible step toward greener business practices. When you implement a few practical measures, you contribute to a healthier planet, save on operational costs and position your company as a socially responsible organization. Embracing sustainability in the workplace is a win-win situation.

    Under30CEO Staff

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  • How to Choose Carbon Credits That Actually Cut Emissions | Entrepreneur

    How to Choose Carbon Credits That Actually Cut Emissions | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Across industries, businesses are taking drastic action to minimize their environmental impact — from slashing carbon emissions to utilizing recycled materials to minimizing corporate travel. Carbon offsets have become a major tactic for forward-thinking companies looking to meaningfully reduce their climate impact.

    The voluntary carbon market is expected to grow from $2 billion in 2020 to roughly $250 billion by 2050, indicating its immense viability to deliver meaningful climate solutions.

    However, for the industry to achieve its full potential, companies need clarity and transparency in the process of selecting carbon credits. For companies looking to meaningfully reduce their carbon footprint, there can be concern and confusion over picking the “right” credits — those that actually deliver the impact being paid for. The voluntary carbon markets lack clear standards, which can make it challenging for businesses that want to do the right thing to navigate.

    Related: The Carbon Credit Market Could Grow 50X Bigger: How One Pioneering Platform Is Meeting the Demand

    What are carbon credits?

    It’s crucial that companies make major strides in reducing the carbon that they produce. However, there will inevitably come a point when organizations have reduced their total emissions as much as possible. In order to bridge that carbon gap, companies rely on carbon credits — which represent the removal or protection of carbon by others.

    Companies purchase carbon credits from projects that draw down legacy carbon trapped in the atmosphere and protect existing stores of carbon from being released – both of which are needed to reverse the climate crisis.

    For instance, the crops of the globe’s two billion smallholder farmers naturally pull down carbon from the atmosphere, storing it back in the soil. Using sensors, satellite imagery, AI and regular monitoring, this stored carbon can be tracked and quantified then sold as a carbon credit.

    Most companies purchase carbon credits via the voluntary carbon markets, which are fast-emerging as a vital tool to help companies achieve their climate targets. While these carbon credits are a proven tool for offsetting emissions, there are a multitude of options that vary in quality and impact.

    Why carbon credits?

    Risk is the biggest driver in business and — with trillions of dollars in annual climate-related costs and damage – the climate crisis is fast becoming a business crisis. Corporations must act now to minimize losses, illustrate meaningful climate action to shareholders and comply with fast-approaching climate regulations.

    Carbon credits are an important approach to scaling climate action globally and are a fast-growing strategy for delivering on corporate ESG goals. While these offsets are part of nearly every scenario that keeps global warming to 1.5 degrees Celsius, legacy carbon markets lack broad public trust: Impactful carbon solutions require clear guidelines and proven, verifiable data.

    Delivering transparency via data

    In selecting carbon credits, consider the data:

    • What kind of data is provided — Is it clear who is responsible for carbon sequestration (i.e., smallholder farmers), and how they’re doing it (i.e., through the crops of their regenerative farms?
    • How is carbon removal calculated?
    • Who is verifying the data — Is it a third-party entity?
    • Is the carbon data auditable (this is especially important for public companies in light of fast-approaching SEC climate disclosure rules)?

    Businesses need auditable, transparent climate and social impact data to convey their actions to key shareholders.

    Without transparency about where carbon comes from, the positive and negative impacts of how it’s being captured and stored, and how it’s being calculated, there is a tremendous corporate risk for faulty carbon credits.

    Investors should turn to carbon credits that allow them to track the sourcing of their credits back to the specific farm and community they came from, and that robustly quantify how those communities are benefiting from the carbon markets.

    Climate justice: Merging social and environmental impact

    While legacy carbon markets rarely have focused on socio-economic impacts, the burgeoning generation of carbon markets will prioritize both social and environmental impact in their models. In action, these carbon credits will benefit the environment while equitably compensating those responsible for the carbon sequestration. Often, these carbon stewards are among the most vulnerable populations – including smallholder farmers, women and indigenous communities.

    When buying carbon credits, ensure that carbon stewards are equitably compensated by asking some basic questions of those selling carbon credits:

    • What language do they use to discuss the partnership with carbon stewards?
    • Is their data auditable?
    • Is the financial model of carbon credits disclosed? Are carbon stewards paid equitably and in a timely manner?
    • Is socioeconomic improvement data shared with investors according to accepted third-party standards?

    Incorporating social and environmental impacts into the next generation of carbon markets can further enhance their value, potentially benefiting vulnerable communities that play a key role in carbon sequestration. A well-designed carbon credit protocol can financially incentivize carbon stewards to bolster their future work – which increases the positive socio-economic and environmental impacts for generations to come.

    Other tactics for carbon removal

    Mechanical carbon capture comes in the form of big machines that effectively suck carbon dioxide out of the air to store, either by putting it underground or repurposing it in other ways. While mechanical carbon capture is promising, this technology is largely still in its infancy, enormously expensive, and still proving its ability to scale.

    Related: Blockchain Could Help Us Combat Climate Change — Here’s How.

    The time is now

    Forecasts now show that the planet will hit a threshold of 1.5C in global temperature change by 2027, which is far sooner than ever expected and carries the potential for massive damage, loss of human life and trillions of dollars in incurred damages for the global economy.

    This is an all-hands-on-deck moment. We must engage proven, reliable, and equitable methods to meet what may be the greatest threat to the future of humanity and the planet we inhabit. Carbon credits, when implemented responsibly and at scale, can be a very effective tool for humanity to use in the fight to limit the damages from climate change. However, the industry’s growth hinges on increasing transparency and standardization to ensure that carbon credits truly deliver the promised impact.

    Josh Knauer

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  • Make Your Office More Eco-Friendly — and Save Money —With These Steps Toward Sustainability | Entrepreneur

    Make Your Office More Eco-Friendly — and Save Money —With These Steps Toward Sustainability | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    As concerns over climate change and environmental sustainability grow, green buildings represent a significant shift in the real estate development landscape. Defined as structures designed and managed to reduce their environmental impact, green buildings have become a focal point for businesses committed to environmental sustainability.

    For entrepreneurs and business leaders, there’s an increasing responsibility — and indeed an opportunity — to transition their existing buildings or offices into greener spaces. Rooted in ecological stewardship, these architectural marvels are designed to minimize environmental impact through resource conservation and sustainability.

    Related: You Can Embrace Green Building Without Breaking the Bank

    Energy efficiency: The first step toward green buildings

    While green buildings represent a significant evolution in real estate, their implications go beyond the initial construction phase. Entrepreneurs and business leaders have a significant role to play in this green revolution. By transforming their offices into eco-friendly spaces, they can contribute to environmental preservation while fostering a healthier work environment and reducing operating costs.

    Transforming an office into a green building involves several interconnected steps. The first is energy efficiency, a cornerstone of the green building philosophy. Efficient energy use not only reduces carbon emissions but also lessens reliance on non-renewable power sources. Energy efficiency is the backbone of any green building. By optimizing energy use, businesses can significantly reduce their carbon footprint. Replacing conventional lighting with energy-efficient LED or compact fluorescent lights (CFLs) can reduce energy consumption by up to 75%. Furthermore, intelligent lighting systems, such as those with occupancy sensors or natural light adjustments, can further minimize energy wastage.

    High-performance appliances, rated by programs like ENERGY STAR, can offer significant energy savings over their conventional counterparts. Building automation systems, managing HVAC, lighting and other power systems, ensure energy is used only when needed, leading to substantial energy conservation. Green buildings, through energy-efficient design and sustainable practices, can lead to significant cost savings in the long run.

    Harnessing renewable energy

    To take the leap from energy efficiency to green energy, businesses can transition to renewable energy sources. Green buildings ideally source their power from renewable resources, thus reducing reliance on fossil fuels and minimizing carbon emissions. Installing solar panels, for instance, can help offset a significant portion of a building’s energy consumption.

    If on-site generation is unfeasible, business leaders can explore renewable energy contracts. Numerous energy providers offer “green power” plans where the electricity is sourced from renewable energy projects. If installing renewable energy systems is not feasible, consider green energy contracts. Many energy providers offer plans where the electricity is sourced from renewable sources.

    Related: Want to Be More Sustainable? 4 Ways To Take Advantage of the Inflation Reduction Act

    Water conservation and management

    Water is another critical resource that can be managed more effectively. Small changes, like installing low-flow taps, toilets and urinals, can significantly reduce water consumption in the office. Going a step further, consider implementing a rainwater harvesting system. Rainwater can be collected, stored and used for non-drinking purposes, such as watering plants or flushing toilets. Low-flow fixtures, such as taps, toilets and urinals, can reduce water consumption by up to 20%.

    Aside from installing low-flow fixtures and rainwater harvesting systems, businesses can explore other methods of conserving water. Greywater recycling systems, for instance, can treat and reuse water from sinks, showers and washing machines for non-potable uses like flushing toilets and irrigation. Businesses can also implement water-efficient landscaping, using native or drought-resistant plants, which require less water and maintenance. Ensuring regular maintenance to prevent leaks, which can lead to significant water wastage over time, is another practical step toward water conservation.

    Waste management

    Waste management is an essential component of a green office. Establishing recycling programs can ensure that waste materials such as paper, plastic, metal and electronics are properly disposed of and repurposed. If the office has a kitchen, consider composting food waste. Not only does this reduce the amount of waste going to landfills, but the resulting compost can be used to nourish office plants or donated to local community gardens. By establishing recycling programs, businesses can ensure that waste materials like paper, plastic and metal are properly disposed of and repurposed. Composting organic waste reduces the amount of waste going to landfills while producing nutrient-rich soil for use in landscaping.

    Beyond recycling and composting, businesses can implement waste reduction strategies. This could involve going paperless, using digital alternatives for meetings and note-taking, and reducing unnecessary packaging in the office. Moreover, businesses can explore the concept of a circular economy, where resources are used for as long as possible, and at the end of their life, components are recovered and regenerated. This could involve initiatives like leasing office equipment or using modular furniture that can be easily repaired, upgraded or disassembled for recycling.

    Related: Meet BlocPower, the Startup That Dreams of Green Buildings Throughout the United States

    Enhancing indoor environmental quality

    Good ventilation not only ensures an adequate supply of fresh air but also helps control indoor humidity levels, reducing the risk of mold growth. Businesses can also consider “thermal comfort,” which refers to maintaining a temperature range in which people feel comfortable. Thermal comfort depends on factors like air temperature, humidity, air movement and the type of clothing worn by people. The indoor environmental quality significantly affects occupant health and productivity. Using low-VOC (volatile organic compounds) or VOC-free paints, adhesives and cleaning products reduces exposure to harmful chemicals. Additionally, incorporating indoor plants can improve air quality while creating a more calming and attractive environment.

    Embarking on the journey to transform an office into a green building requires commitment and often investment. Still, the benefits — from cost savings and improved employee health to promoting a more sustainable future — make it a worthwhile endeavor. By taking these steps, entrepreneurs and business leaders are not just creating healthier, more sustainable workplaces. They are joining the green building revolution, contributing significantly to the future of sustainable real estate development and shaping the way we think about the spaces in which we work.

    The evolution of the green building movement offers an array of opportunities for entrepreneurs and business leaders. By staying abreast of the latest green practices and technologies and fostering a culture of sustainability within their organizations, they can make a meaningful contribution to the environment while reaping tangible business benefits. It’s a win-win scenario, where businesses can bolster their bottom line while making strides towards a more sustainable and ecologically responsible world.

    Ari Chazanas

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  • This Is the Solution You Need to Both Cut Costs and Go Green | Entrepreneur

    This Is the Solution You Need to Both Cut Costs and Go Green | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Representing more than 99% of all businesses across the country and employing some 60 million people, the success of small and medium-sized business (SMBs) is intrinsically linked to the economy’s well-being. But times are tough for SMBs: margins are narrowing, interest rates are rising, supply chain shortages and inflation remain rampant and to top it all off, stakeholder demands for sustainability have never been greater. Today’s pressures demand new solutions; with clean technologies, SMBs have the chance to not only address and overcome these challenges but also turn them into a competitive advantage.

    While the word “cleantech” often conjures up sprawling images of utility-scale solar arrays and offshore wind farms, this is a fairly superficial depiction of the industry — a stereotype, so to speak. In reality, many small-scale cleantech solutions are quickly becoming a regular part of consumers’ everyday lives and increasingly playing an outsized role in reducing businesses’ operating costs. For many — like locally owned and operated retail business owners — these expenses underscore a majority of their ongoing resource challenges and present a massive economic opportunity to advance cleantech adoption.

    Related: What You Can Learn From the Rise of Sustainability-Focused Entrepreneurship

    Slashing energy bills

    Rising and seldom-predictable energy costs have long been a thorn in SMB owners’ sides. Retail spaces, especially restaurants, for example, can’t turn off — or even turn down — their appliances, cooling equipment or lighting to scale back on operational costs, making them particularly susceptible to volatile energy prices.

    Fortunately, cleantech business models, such as Energy Efficiency as a Service (EEaaS) are enabling new solutions to this problem, allowing businesses to access cost-and emission-saving equipment upgrades through long-term contracts. And within just a few years, these investments pay for themselves through cumulative energy savings. From new HVAC architectures to optimized lighting, temperature and refrigeration controls, IoT sensors and heat pumps, everyday cleantech solutions are proven to drive down operating costs, freeing up time and capital that owners can deploy elsewhere.

    Determining what investments are needed might sound cumbersome, but experienced and trustworthy cleantech partners make it easy. After assessing a space’s energy footprint, EEaaS companies can quickly identify a site’s most pressing upgrade needs, facilitate immediate action and deliver measurable outcomes.

    Driving public and private favor

    Understanding macro forces that are actively reforming the U.S. economy is also key to staying profitable, as it enables business owners to align their core offerings with consumer wants and needs, minimizing commercial friction for a more pleasant experience. In recent years, sustainability, once an afterthought, now plays an often outsized role in consumer choices. Inundated with impactful reminders of climate change, including extreme weather events, rising sea temperatures and declining biodiversity, consumers want to know that the businesses they’re frequenting are aware of their environmental impact and actively looking to reduce it.

    In addition to sizable cost savings, replacing inefficient technologies with cleaner alternatives offers SMBs opportunities to leverage reputational benefits and boost customer satisfaction. From improved indoor air quality and temperature stability to quicker, more reliable service operations and sensory-friendly lighting, the opportunities of sharing one’s sustainability journey are unparalleled. Customers quickly take notice and are inclined to come back.

    And for franchisees, incorporating cleantech into your operations can help drive positive corporate relationships. Showcasing environmental proactivity and improved customer contentment is bound to impress, especially when paired with long-term overhead savings, which cleantech fruitfully delivers.

    Related: The Evergreen Action Path to Reaching 100% Clean Energy

    Getting ahead of the curve

    While the prospect of mandatory environmental, social and governance (ESG) reporting remains distant for some, this attitude runs contrary to existing policy and regulatory signals and will lead to detrimental long-term outcomes. The SEC initially proposed ESG reporting guidelines in 2022 and though it faced delays following regulatory disagreements, it’s widely expected to be finalized in 2023. Recognizing the economic imperative of ESG adaptation, other jurisdictions have also moved quickly to embrace mandatory ESG reporting. The European Union strengthened its existing regulations earlier this year, for example, whereas China, Canada and others are widely expected to roll out their own ESG frameworks by 2023 and 2024, respectively.

    Businesses that are part of a chain, franchise or other corporate structure will inevitably feel pressure from their parent companies to reduce greenhouse gasses in the coming years. Even those that are fully independent will bear some impact as consumers continue to make clear the importance of strong ESG practices. However, getting ahead of the pack by adopting cleantech can preemptively neutralize these pressures, ensuring compliance with corporate ESG policies while positioning oneself as a community leader on the environmental front — an increasingly powerful sales hook.

    Now more than ever, SMBs need real, tangible solutions to rising operating costs and evolving consumer demands. Solutions must be flexible, affordable and long-lasting; cleantech, despite its niche-sounding nature, has broad applications that can help small and medium business owners stay competitive and impress stakeholders with next-generation quality and efficiency. EEaaS companies — as key enablers of the green economy — offer SMBs streamlined access to clean technologies and their many benefits.

    Al Subbloie

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  • 7 Methods to Make Your Business More Eco-Friendly | Entrepreneur

    7 Methods to Make Your Business More Eco-Friendly | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Today’s businesses need to focus on more than just getting the all-mighty dollar. With the rise of corporate social responsibility (CSR) and sustainability, companies are expected to do more for their communities and to give back. A tricky feat, but necessary for companies that want to stay relevant and successful. Why should businesses care about doing their part? Let’s talk about it.

    Incorporating CSR and sustainability into business strategies is essential for success no matter the size of your business. I have used the methods we will discuss to enhance my company’s business reputation, engagement of employees and foster customer loyalty. These initiatives attract individuals who share your values which will improve work culture and build stronger customer relationships.

    Related: 5 Tips to Instill Corporate Social Responsibility Into Every Aspect of Your Brand

    Examples of CSR in modern business

    My main company, Strategic Advisor Board, recognizes the importance of environmental sustainability and has established the “Environmental Stewardship Initiative” as part of its corporate responsibility program. This initiative aims to reduce the company’s environmental footprint and contribute to the preservation and protection of the environment.

    We’ve incorporated the following components that you might consider, too:

    • Energy conservation: My board members actively promote energy conservation practices within our offices and operations. This includes implementing energy-efficient technologies, optimizing heating, ventilation and air conditioning systems, and encouraging employees to minimize energy consumption.
    • Waste management: My company has implemented a comprehensive waste management system that focuses on reducing, reusing, and recycling. Recycling stations are available throughout the premises and employees are educated about proper waste segregation and responsible disposal practices.
    • Paperless operations: I am very committed in all my companies to reducing paper usage and transitioning to digital processes whenever possible. This includes utilizing electronic document management systems, promoting online communication and collaboration tools and encouraging employees to minimize unnecessary printing.
    • Sustainable procurement: One of our major focuses is prioritizing sustainable procurement practices by sourcing products and services from environmentally responsible suppliers. Factors we consider are the supplier’s environmental policies, use of eco-friendly materials and adherence to ethical and sustainable practices.
    • Employee engagement: The Environmental Stewardship Initiative actively involves employees in promoting environmentally friendly practices. As CEO, I encourage our leadership to organize awareness campaigns, workshops and training sessions to educate our employees about sustainability, conservation and the importance of individual actions in reducing the ecological footprint.
    • Community outreach: My board of directors extends its commitment to environmental stewardship beyond its own operations. It collaborates with local environmental organizations and community groups to support initiatives such as tree-planting drives, beach clean-ups and environmental educational programs. These initiatives aim to raise awareness and engage the community in environmental conservation efforts.
    • Impact measurement and evaluation: To ensure the initiative’s effectiveness, my company monitors and measures its environmental performance regularly. Key metrics such as energy consumption, waste reduction and paper usage are tracked to identify areas for improvement and set targets for continuous progress.

    Related: 10 Ways to Make Your Business More Socially Conscious

    Challenges and obstacles

    While social responsibility and sustainability may seem easy, companies may face a few issues when they begin adopting new practices. The first is that many business owners don’t understand what these policies can look like. Company owners will often say they care about the environment and their staff, but they won’t have well-defined initiatives to show how they’re following through.

    Reluctance to change is one of the biggest obstacles to promoting sustainability. Company leaders might believe the task is too daunting and think business is already going well so they don’t see a reason to change it. They also might wonder what the metrics would look like to measure the changes. Since there’s no one step or framework to CSR, many businesses don’t know where to start.

    My recommendation is to start with smaller initiatives that get everyone in the organization on board, including the customers. A local highway cleanup would be a great place to start as it’s easy to organize and will make a community-wide impact.

    Strategies for incorporating CSR into business operations

    Integrating CSR and sustainability into your business practices may appear challenging, but I have some strategies to help you put your plans into action. You’ll need leadership commitment and support. In order to do this, get down to what customers want. Create a customer survey and find out what social causes your current customers support and care about.

    According to the 2023 Business of Sustainability Index, 74% of consumers care about the environmental impact of the products they buy. Consumers are specifically searching for companies that are socially responsible to buy products from but need help recognizing which companies are environmentally friendly.

    Make it easy for your consumers to see you have CSR initiatives established in your organization. This can be done by incorporating it into your mission statement, using clear labels on your products and getting third-party tested. Make it known on your social media pages and website you can be counted on as a company that participates in CSR.

    There’s been a shift over the years to consumers willing to pay more for products that are environmentally friendly. The same report goes on to say in 2023, 68% of consumers are willing to pay more for environmentally friendly products vs. 64% in 2021. So take that into consideration when making changes to include CSR in your business and benefit from a more positive reputation and loyal clients.

    Jason Miller

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  • Restaurants Are Turning Used Cooking Oil Into Biodiesel | Entrepreneur

    Restaurants Are Turning Used Cooking Oil Into Biodiesel | Entrepreneur

    At some restaurants, eating fried food actually helps the environment.

    In Miami, craft brewery Cerveceria La Tropical is among the hundreds of establishments that have adopted the practice of collecting used cooking oil to be recycled and turned into biodiesel, the Miami Herald reported.

    La Tropical works with the restaurant maintenance franchise Filta, which specializes in environmental solutions for commercial kitchens. Filta comes to La Tropical each week to collect used cooking oil from the restaurant. The Filta technicians either filter the oil so it can be reused in the restaurant or take the oil to be repurposed and turned into biodiesel.

    Related: Rice and Mushrooms, Anyone? Samsung Will Offer Low-Carbon Meals to Its Employees.

    “When we filter the oil, we extend its life so that the restaurants and all these food services will use less cooking oil,” Cristian Nechuta, who runs the Miami-Dade County franchise of Filta, told the outlet. “Once the oil can no longer be filtered anymore, we take it to a recycling facility.”

    While Filta charges vendors for its service, the recycled use of cooking oil allows restaurants to use it for about 50% longer than average, Nechuta told the outlet.

    Founded in 1996, Filta has 326 locations across the U.S., offering environmentally-friendly solutions for cleaning, recycling, and repurposing materials in kitchens in the food and hospitality industry.

    Related: This Startup Is Using Plants to Capture Carbon Emissions

    Nechuta’s Filta location doesn’t just work with restaurants, he told The Herald. He also collects cooking oil from local hospitals, colleges, and sports stadiums around the Miami-Dade area. Nechuta added that last year, Filta collected 23,000 gallons of cooking oil to be turned into biodiesel, preventing about 230 tons of carbon emissions.

    According to the U.S. Department of Energy, biodiesel releases roughly a quarter of carbon emissions than standard diesel.

    And it’s not just local restaurants looking to make an impact. Last year, fast food giant Chick-fil-A announced it would be partnering with food manufacturing company, Darling Ingredients to convert its used cooking oil into renewable diesel.

    Restaurant Technologies, which provides restaurant services and solutions for top brands like McDonald’s and KFC, has its own cooking oil-to-biodiesel service. In 2022, the company says recycled about 290 million pounds of used cooking oil, reducing about 67 million pounds of carbon emissions.

    Madeline Garfinkle

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  • Can Crypto Go Green? Examining the Sustainable Implications of Cryptocurrencies | Entrepreneur

    Can Crypto Go Green? Examining the Sustainable Implications of Cryptocurrencies | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Since 2009, cryptocurrencies have been an innovation to watch and a subject of several debates. One such debate is its impact on our environment.

    Now more than ever before, the sanity of this debate cannot be questioned as the world continues to battle with challenges posed by climate change. Scientists fear that 2050 climate change could displace millions of people from their homes if no drastic measures are taken.

    Therefore, there is a need to explore the current environmental impact of cryptocurrencies and how it influences the emergence of eco-friendly crypto projects.

    While fossil fuels have dominated environmental discussions, in the last few years, cryptocurrencies have begun to enter the fray. So much one might wonder if the concerns are exaggerated or might hold some truth.

    Related: 7 Things to Know Before Investing in Cryptocurrencies

    Bitcoin’s environmental challenge: Weighing the costs of financial freedom

    While Bitcoin is a powerful tool for decentralization and financial freedom, its critics point to its significant carbon footprint as a major flaw. BTC’s footprint is a product of the energy-intensive mining that mints it. Bitcoin mining is powered by the proof-of-work (PoW) consensus, which requires miners to solve complex math problems through powerful computers that utilize large amounts of energy.

    Many argue that Bitcoin mining is becoming increasingly energy efficient, but a peer-reviewed study highlighted by TIME casts aspersions on these claims. Rather than the opposite, the study showed that Bitcoin’s use of renewable energy fell from 42% in 2020 to 25% in 2021. It also suggested that the regulatory crackdown in China, known for its abundant hydropower resources, may have played a role in this decline.

    However, this study suggests that the environmental concerns surrounding Bitcoin mining appear to be more regulatory-based. Bitcoin miners have demonstrated their willingness to shift entirely to renewable energy sources, despite how expensive they are. The Bitcoin Mining Council reports that 60% of mining operations utilize renewable energy. On the other hand, the Cambridge Center for Alternative Finance estimates this figure to be around 40%. Regardless of the variations, these statistics emphasize miners’ dedication to embracing renewable energy. Nonetheless, the big question remains: will governments provide the necessary support?

    Related: Potential Consequences Of Bitcoin Mining Centralization

    Ethereum’s Proof-of-Stake: A game-changer for environmental sustainability

    In its famous upgrade known as The Merge, Ethereum transitioned from PoW to the proof-of-stake (PoS) consensus and aimed to reduce its energy consumption by more than 99%. Ethereum’s goal was to create a more energy-efficient and eco-friendly environment. Now, over six months after, it is important to see if it succeeded.

    We must trace Ethereum’s energy consumption before The Merge to do this. Data obtained from the Cambridge Digital Assets Programme revealed that between 2015 and the PoS transition, Ethereum’s electricity consumed approximately 58.26 TWh. To put this into perspective, Switzerland’s annual electricity consumption is 54.88 TWh.

    However, following the transition to PoS, Ethereum’s power demand decreased significantly from 2.44 GW to a mere 224 kW, that’s a 99.991% decrease. Mission accomplished! This achievement is even more monumental considering that the Ethereum blockchain powers thousands of other crypto projects. It benefited the Ethereum network and influenced the rise of eco-friendly crypto projects throughout the broader crypto ecosystem.

    Towards cultivating a sustainable crypto ecosystem

    We can question the environmental safety of cryptocurrencies if we focus on Bitcoin alone. However, if we extend our viewpoint to other cryptocurrencies, we’d see that the crypto ecosystem is not lacking in sustainability. With Ethereum leading the march, 2023 saw several eco-friendly cryptocurrencies gaining attention.

    One notable example is the Chia Network with its proof-of-space-and-time protocol. Transactions are validated through a process called farming, utilizing tech structures such as cloud computing and data storage platforms like AWS. Chia’s unique farming process allows it to consume only about 0.12% of Bitcoin’s annualized energy.

    Similarly, Algorand has emerged as a key player in promoting a greener environment. Touted as the first pure proof-of-stake (PPoS) fundamental blockchain, Algorand took proactive steps in 2021 to offset its carbon footprint and monitor emissions through its partnership with ClimateTrade. This collaboration, coupled with Algorand’s PoS consensus, positions it as a more energy-efficient alternative to Bitcoin. In fact, a single Algorand transaction consumes just 0.000008 kWh of electricity compared to Bitcoin’s 1,206.52 kWh.

    These examples, alongside projects like Solana and Avalanche, align with the objectives of the Crypto Climate Accord. This Accord, a coalition of industry stakeholders, aims to transition the cryptocurrency sector to 100% renewable energy by 2025. Through these collective efforts, the industry moves closer to achieving a greener and more sustainable crypto landscape.

    Related: Breaking the Bank: America’s Multi-Trillion Dollar Banking Problem

    Putting money in eco-conscious crypto

    As crypto projects “clean” the earth by reducing its carbon footprint, it is also sanitizing its image in the eyes of investors. The environmental impact of cryptocurrencies can be a huge turnoff for investors, especially in this era of environmental, social, and corporate governance. (Recall that in 2021, Tesla halted Bitcoin payments citing environmental reasons.)

    The European Central Bank stated that significant carbon footprints from cryptocurrencies could affect their valuation in countries or regions where green policies thrive. They further highlighted that if EU authorities are considering banning fossil fuel cars by 2035, it is unlikely that cryptocurrencies would be spared (that is if they still impact the environment significantly). This is even a notable aspect of the European Parliament’s Markets in Crypto-assets (MiCA) Regulation.

    So where does this leave us?

    Although Bitcoin, the pioneering cryptocurrency, has faced criticism for its significant carbon footprint resulting from energy-intensive mining, the industry is moving towards more sustainable alternatives. So, while there are valid concerns about the environmental impact of cryptocurrencies, the ecosystem is evolving to address these issues. The shift towards sustainable practices, exemplified by Ethereum’s transition to PoS and the emergence of eco-friendly crypto projects, demonstrates a positive pathway.

    Governments also need to play their part in minimizing the costs of renewable energy. Through state efforts and by supporting projects that actively reduce their carbon footprint, the crypto ecosystem has the potential to contribute to a more sustainable future.

    Vladimir Gorbunov

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  • Top Solar Energy Trends To Look Out For in 2023 and Beyond | Entrepreneur

    Top Solar Energy Trends To Look Out For in 2023 and Beyond | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    With the latest Energy Information Administration (EIA) report now out, we have a more precise look at renewable energy numbers throughout the United States, including the latest growth. Renewable energy investors and developers should already feel encouraged by the broad goal set for reaching 100% clean electricity by 2035.

    But there are several important current trends worth keeping an eye on.

    Renewables did well during the pandemic and are posed for more growth

    The EIA reports that through October 2022, renewables grew to provide 22.60% of the total United States electrical energy generation. That included an impressive 14.26% growth compared to previous numbers from a similar timeframe in 2021 and a prediction that renewables will reach at least 25%.

    This is good news for solar investors, not only because of the growth rates but because so many different sectors have contributed to it. Growth is coming from state programs and grants, more commercial applications than ever, and global trends pushing toward broader, more affordable solar energy.

    Solar energy also has more room to grow than wind energy, which has seen similar growth rates but holds nearly 10% of the U.S. market compared to around 5% for solar energy, a gap that offers plenty of potential for future developments.

    Related: Why the Tide Is Turning for the Energy Sector

    Where businesses will see the most growth this decade

    What does the EIA report say about support for renewable energy growth in the coming decade? One crucial goal the EIA cites is reaching a global “net-zero” state by 2030. This means roughly 61% of the United States’ electricity will come from renewables. The EIA also provides several ideas on what kind of energy growth can get us there, which is a roadmap for potential high-growth areas in the coming years.

    • More grants for construction: Government investment in grants for builders and business owners interested in solar are likely to increase in the coming years. But there is a caveat: much of the support for these grants on a federal level currently comes from the Inflation Reduction Act (IRA). The House of Representatives is now in talks about managing the U.S. limit, and one of their demands is cutting many of the programs included in the IRA, which could affect energy investment across the board. If the IRA remains intact, it will be a vast boost for renewable construction. If it is significantly altered, grant programs may largely be left up to the states.
    • Heat pump growth: Heat pumps are one of the most underutilized traditional methods of saving energy and cutting out fuel use for the average home or business in the United States. State regulations, such as those passed by NY and others, will only encourage more adoption of heat pumps in the future. Owners will be happy to go along when the cost benefits compared to fuel become clear, and HVAC installers can expect growing interest over time.
    • Wind energy: While wind energy has narrower investment opportunities than other options — primarily wind farms — especially offshore building — I expect this sector to see significant future growth, including the Midwest and coastal states.
    • Targeted solar installations: Solar is more affordable than in years past and offers significant advantages for businesses, especially when it can capitalize on existing space while cutting costs. Two examples are parking lot installations (which also provide shade for cars) and additional rooftop installations on compatible commercial buildings, as well as new residential interest.

    Related: Why Investors Should Look at Vietnam’s Renewable Energy Industry

    Pushback from utility companies

    The growth of renewable energy now sees considerable pushback from utility companies, which see solar energy, in particular, as a threat to their profit models. Among other decisions, utility companies are lobbying state governments to retract programs meant to encourage solar construction and kill models that allow solar energy owners to benefit from the excess electricity they produce.

    This war has already done immense damage in key solar markets in the United States, including California, where regulators have killed solar-related incentives, and Arizona, where utility companies backed a successful campaign to remove any benefits from rooftop solar and Florida, where utility companies are directly writing legislation and sending it to state congress to limit solar power.

    The way forward here is unclear. A war between renewable energy and traditional utility companies yields only the worst results for end users, and governments caught up in shifting laws or regulations make the solar investment even more confusing for newcomers. This may be one of the most significant challenges moving forward from 2023.

    Abe Issa

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  • What We Can All Do Right Now to Accelerate The Electric Vehicle Revolution | Entrepreneur

    What We Can All Do Right Now to Accelerate The Electric Vehicle Revolution | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    There is a chicken-and-egg dilemma facing electric vehicles (EVs). If there’s no or little infrastructure — including charging stations, purchasing an EV isn’t the most logical. But if it seems that no one is buying EVs, it’s hard to justify building the infrastructure. As businesses and consumers face the point of no return for climate change and try to save money in a sustainable way, getting out of this pickle can’t be a “someday” dream. Here’s what we can do right now to get out of the gridlock.

    Related: Sustainability: How EVs Are Trying To Make a Difference

    Tackling the pricing issue

    Just like internal combustion engine (ICE) vehicles, EVs have a price spectrum. The more power and battery life you need, the more cash you should expect to cough up. Thus, the cost of your EV connects to your daily routine.

    Do you drive 50 miles a day and live in a city like Los Angeles — which has the most charging stations in the country? If price is a factor, then you can probably settle on a more cost-effective EV with a smaller range. On the other hand, what if you’re in rural North Dakota — where chargers are harder to come by — and your commute is 150 miles round-trip? That more expensive EV with a top-level battery would start looking pretty attractive.

    The first thing you can do to help solve the EV chicken-and-egg riddle is to make your buy personal. If you buy for your own use case — not your neighbor’s, coworker’s or mom’s — you’re more likely to hone in on the most appropriate price point. Focus on what you actually need out of an EV. This will help you calculate the point when it becomes cheaper for you to buy the EV than to continue driving an ICE vehicle. Keep in mind, there are many variables that can come into play here, like how easy it is to get parts for or how often you have to do maintenance on each vehicle.

    This said, EVs can already function at half the operating cost of an ICE vehicle, so you’ll win out in total cost of ownership. And thanks to the relaxation of Covid-19-related supply chain woes (among other factors), the industry could reach price parity between ICE and EV options within the next two years. More conservative assessments say we’ll cross the parity threshold between 2024 and 2026 for short-range models and 2027 and 2030 for long-range models. And if enough consumers buy EVs based on an understanding of their individual use, they’ll drive manufacturers to increase their production. Subsequently, an increase in supply will drive down costs for general consumers and companies.

    Related: Sustainability: How EVs Are Trying To Make a Difference

    Individuals, companies and governments all have roles to play

    Some people will always be diehard ICE fans — they’ll be laggard adopters who buy an EV only when they have no other choice. But increasingly, people are becoming more socially conscious. They want to live sustainably, and they want the companies they buy from to operate sustainably, too.

    Some consumers are installing their own chargers in their homes. Companies like Walmart also are committing to EV fleets and attempting to build infrastructure. But even where people and corporations are willing to support electrification, they can’t always guarantee their power grid is going to support their goals.

    Because individuals and companies have to depend on the capacity of their power grid, public-private partnerships must be made to meet infrastructure demand. At the same time, the government looks at how sustainability connects to the larger ability to compete and maintain a good quality of life. So when they set regulations, it dramatically influences whether individuals and companies buy EVs and drive infrastructure demand.

    Related: The U.S. Is Way Behind In Driving EVs. How Do We Catch Up With the World?

    Some parts of the world are already phasing out or banning ICE vehicles. By comparison, the United States is behind. But states like California are leading regional charges toward development, and the Biden administration is taking steps to accelerate EV adoption. Through the Investing in America agenda, Bipartisan Infrastructure Law and other initiatives, the administration is adding and expanding tax credits and incentivizing support for transitioning away from ICE models. The goal is to have 50 percent of all new vehicle sales be electric by 2030. Both consumers and businesses can lobby legislators for additional regulations that might help on a local, state or national level.

    Related: Tesla’s Charging Stations Will Be Available to All EVs by 2024

    If you can’t go EV now, go sustainable where you can

    Even as public-private partnerships take shape and the government tries to speed along EV adoption, electric vehicles can still come with a higher upfront cost than ICE models. Lots of buyers can’t afford a few extra hundred bucks a month on their payment. And many are still waiting on that infrastructure to reach where they live.

    If this sounds like you and there’s just no way you can hop on the EV train right now, there are still plenty of ways to show your support for sustainability. You can start simply by expressing your interest in EVs and infrastructure to friends, business leaders or representatives. They might be able to champion your cause by proxy or help you educate others. But you can also carpool, repurpose products or recycle more, buy from companies committed to ESG initiatives or opt to eat more plant-based meals.

    Not chicken, not egg, but with everyone working together, both

    The shift to electric vehicles is already underway for economic and environmental reasons. But outpacing the sales of ICE vehicles to stay competitive and save the planet requires individuals, companies and governments to work cooperatively to build EVs and the related infrastructure simultaneously. Because no one individual or agency can solve the problem alone, you can help by committing to cooperate in whatever role you happen to have.

    Brendan P. Keegan

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  • Do You Qualify For These Green Tax Breaks? | Entrepreneur

    Do You Qualify For These Green Tax Breaks? | Entrepreneur

    It’s tax time, and companies nationwide are looking for sustainable write-offs to help soften the blow and reduce their carbon footprint.

    Like it or not, the Inflation Reduction Act of 2022 (IRA) put into law many tax credits for green business practices.

    “It does contain a virtual garden of green incentives for small businesses’, entrepreneurs, and others seeking to do well for the planet and their pocketbook,” says Steve Miller, a former IRS Acting Commissioner and current National Director of Tax at alliantgroup.

    We asked Miller to sort through all the key tax credits available to your business so you don’t have to.

    Big list of tax credits

    Before deep diving into a few larger items, here is a general list of tax credits available via the IRA in 2022.

    • Sec. 45: Energy production credit: 3 cents per kilowatt hour of clean energy sold to the grid.
    • Sec. 48: Energy property credit: Credit for up to 30% of cost of purchasing clean energy property.
    • Sec. 45Q: Carbon sequestration credit: credit per metric ton of carbon oxide captured and then sequestered or used in your business.
    • Sec. 45U: Zero emission nuclear power production credit: 1.5 cents per kilowatt of zero emission nuclear power produced and sold.
    • Sec. 40B: Sustainable aviation fuel credit: $1.25 per gallon of sustainable aviation fuel produced and sold.
    • Sec. 45: Energy production credit: 3 cents per kilowatt hour of clean energy sold to the grid.
    • Sec. 48: Energy property credit: Credit for up to 30% of cost of purchasing clean energy property.
    • Sec. 45Q: Carbon sequestration credit: credit per metric ton of carbon oxide captured and then sequestered or used in your business.
    • Sec. 45U: Zero emission nuclear power production credit: 1.5 cents per kilowatt of zero-emission nuclear power produced and sold.
    • Sec. 40B: Sustainable aviation fuel credit: $1.25 per gallon of sustainable aviation fuel produced and sold.
    • Sec.45V: Clean hydrogen production credit: Credit for up to $3 per kilo of clean hydrogen produced.
    • Sec. 45W: Clean commercial vehicle credit: Up to 30% of the cost of a clean commercial vehicle.
    • Sec. 48C: Advanced energy project credit: Application-based credit for 30% of the cost of a facility to manufacture advanced energy property (i.e., making solar panels). $10 billion allocated.
    • Sec. 45X: Advanced manufacturing production credit: Varying credits for the production and sale of eligible property; credit amounts based on the energy production capacity of that property.
    • Sec. 45Y: Clean electricity production credit: Credit of .3 cents per kilowatt hour sold.
    • Sec. 48E: Clean electricity investment credit: Credit for up to 30% of cost of electricity production facility and storage equipment for a zero-greenhouse emission facility.
    • Sec. 45Z: Clean fuel production credit: Up to $1 per gallon of clean fuel sold by taxpayers.

    Some of the incentives of this new law can be paid directly to governments and non-profits, almost like a grant. A few of the incentives can even be paid to for-profit companies.

    Plus, this is the first time in a while, congress has allowed certain benefits to be transferred to third parties, meaning they can be sold to investors. Many tax benefits can be carried back three years instead of the usual one year, which means you can get a refund on already paid taxes in prior years.

    Energy efficiency credits

    Under the new plan, there are incentives for improvements to the energy efficiency of existing buildings. The government can allocate a deduction to the designers of the energy-efficient changes. While the prior deduction was $1.80 per square foot, the new provision allows up to $2.50-$5.00 per foot. Other changes expand the ability to allocate the deduction from governments to non-profits (think hospitals and colleges) and Indian Tribes, according to Miller.

    Research and development credits

    Miller points out that the Inflation Reduction Act calls for tax credit changes for research and development. How so? Previously, start-ups and small businesses could take a refundable $250,000 credit against their employment tax liabilities. This limit on start-up credit election doubled to $500K, and what taxes can be offset were expanded.

    “Any small business, whether they qualify for the start-up provision or not, should consider the R&D credit in any event as it is a valuable incentive,” says Miller. “Too many small business owners think of the credit as requiring bench research and white coats. That is not the case. Over the years, the IRS and Congress have expanded the credit to reward many types of innovation and research on US soil.”

    Jonathan Small

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  • Entrepreneur | The Evergreen Action Path to Reaching 100% Clean Energy

    Entrepreneur | The Evergreen Action Path to Reaching 100% Clean Energy

    Opinions expressed by Entrepreneur contributors are their own.

    The current United States Administration has an ambitious goal: Cut carbon emissions and reach 100% clean power by 2035. Is this even possible? A new report from the Evergreen Action organization, partnering with NRDC (Natural Resource Defense Council), charts just how it could be done.

    Making it over the last stretch

    The good news is that in recent years, the United States has come very far in growing its renewable energy sources, providing much cleaner electricity than in the past. These leaps and bounds in growth have led to an important question for the future: Where do we go from here?

    In many respects, the first clean energy targets were the easiest to meet, requiring the least effort and focusing on the areas that are easiest to change. The targets remaining for the 2035 goal are more difficult. They are likely to require more resources and regulations to meet, as well as a significant shift in the industry and public thought about how energy works.

    Governments have many tools to help cross this gap, but taking action quickly is essential. Businesses should now consider potential rebates and funding options to save time.

    Related: 5 Tips for Creatively Going Green With Your Business

    Utilizing the clean air act and EPA to Revolutionize the Power Sector

    The EPA has significant authority to regulate certain business activities that can pollute the environment and threaten the health of citizens. That can include regulating carbon production and fuel exhaust through the Clean Air Act and other measures. But it also needs to include enforcement, something the EPA has traditionally failed at: As the Evergreen Action report indicates, 39 states have currently failed to submit articles like regional haze SIPs (Sharing Information on Progress) as required by law. That cannot continue if energy goals are reached.

    How does EPA action help move to clean energy? Part of the label “clean” means that these sources naturally produce little or no exhaust or fumes: Compare what an electric vehicle does to the air around it vs. a gasoline engine, and it’s easy to see how that effect can multiply when applied to an entire city – or a power plant.

    That gives businesses a few different options to act on. Those that may encounter carbon reduction requirements in their industry should start planning on new energy sourcing now. Compliance will become more important than ever. California’s carbon restriction program from the last several years is a good example of where many other regions could be heading.

    Related: Protect the Environment, Protect Your Business

    Building on the efforts of the IRA (Inflation Reduction Act)

    The IRA was passed in 2022 and included many measures to help grow the U.S. economy. Part of that was the largest investment in the clean energy sector that the country has ever seen. In the coming years, America must focus on using those funds to make the maximum difference.

    One of the most critical efforts resulting from the bill is an investment in new infrastructure needed for clean electricity transmission. That infrastructure is much easier to develop in urban areas, such as with convenient EV battery chargers in parking lots. Rural areas face significant challenges. That’s why the IRA includes a vital $12.8 billion for rural utility financing. This money is designed to help rural areas transition to clean sources of power, forgive debts associated with high-carbon fuel sources so they can be more easily retired, and much more. It also provides funding for new public transmission lines and other important components that will be needed to meet future goals.

    The IRA includes tax credits and other various tools to help encourage businesses to adopt clean energy practices. If your business (especially those involved in any kind of energy or infrastructure work) hasn’t looked at IRA programs, now is the time to begin. Brushing up on government bid experience is also advisable.

    Funding alternative sources of power, including nuclear and wind

    The federal government also has many ways to encourage and fund research and adopt alternative energy technologies. That includes Greenhouse Gas Reduction Fund, State Climate Grants and other “Force Multipliers” programs to help advance energy goals. Clean sources of power, including more wind farms and the adoption of small nuclear reactors, will be required to meet goals, and their growing use should be met by efforts to educate the public on their benefits and safety.

    These competitive grants can help a variety of businesses. Still, it’s essential to bring in (or consult with) expert grant-writing services to ensure that the organization is dotting all the i’s and mastering the details necessary to qualify.

    Possible vs. Practical

    These steps are all possible – mechanisms exist to implement them. But, of course, there is another question: How practical are they given today’s political climate? Such broad changes need broad political buy-in and consensus, which does not currently exist in the United States. Congress is currently split between parties with very different ideas about energy and regulations. Any additional laws or changes are likely to either not have enough votes to pass or to be met with lawsuits that will eventually arrive at the Supreme Court.

    This situation doesn’t look likely to be resolved any time soon. But to meet our important goals in the 2030s, an energy agreement is required. Part of the solution lies in greater awareness and firmer plans, which means studies like this are vital. Other solutions lie with individual efforts by states and green energy initiatives from companies around the country. That means businesses must stay on their toes, watch for opportunities and prepare for a future where energy choices are more important than ever.

    Abe Issa

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  • 4 Smart Crowdfunding Solutions for Your Green Startup

    4 Smart Crowdfunding Solutions for Your Green Startup

    Opinions expressed by Entrepreneur contributors are their own.

    From energy-saving cookware and smart bikes to home energy storage systems and efficient composting, many green startups are increasingly looking for capital to launch their business.

    But with the forecast for global venture funding continuing to look bleak for early to mid-2023, green entrepreneurs may need to turn to alternative sources to score the cash they need to go to market.

    For many startups, crowdfunding platforms have become a popular, more democratic means to secure funding. Rather than leave a business’ fate to venture capitalists, crowdfunding enables entrepreneurs to pitch directly to consumers, including family, friends, and a built-in base of early adopters and sustainability champions who want to be a part of growing a business from the ground floor.

    The expansion of crowdfunding platforms in recent years comes at an ideal time as the labor market continues to feel the impact of the Great Resignation, with as many as four million people quitting in the month of October, according to U.S. Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey program. Dissatisfied with their jobs during and after the pandemic hit, thousands of people either landed new positions, left the job market, or started their own businesses.

    How to choose the right crowdfunding platform

    Trusted crowdfunding platforms, such as Indiegogo, StartEngine, or GoFundMe, are good places to start if you want to raise funds.

    Indiegogo’s crowdfunding platform, known for its selection of tech, hardware, and innovative products, has a community of 950,000 founders who can tap into more than 13.5 million backers. The platform has raised more than $78 million for sustainable products and continues to see green tech as one of the most popular categories for fundraising over the last two years.

    StartEngine boasts a community of 900,000+ founders. Launched in 2015, StartEngine is an equity crowdfunding platform that enables backers to take some ownership of a company in exchange for financial investments. The business recently reached a sizable investor community totaling one million.

    Similar to Indiegogo, StartEngine doesn’t discriminate when it comes to the kinds of businesses that can use the platform for fundraising and welcomes businesses across diverse verticals.

    One of the more universally known crowdfunding platforms, GoFundMe, touts a global community of more than 100 million people with more than 17 billion raised for various community causes, including environmental charities.

    No matter which platform you choose, here are three essential tips to follow that will help attract interest in a worthy campaign:

    Tell a compelling story

    Entrepreneurs can’t sell units or build a community of backers unless they have a meaningful way to talk about their product or service. It is essential to develop a compelling mission and messaging that explains what a product is, how it works, and why people should care. Be sure to layer in rich content, including professional photography and video, which gives backers the confidence the product will perform as expected.

    Tap into services that help build a fan base

    Many crowdfunding platforms offer services and advice that help entrepreneurs build strong campaigns. For example, Indiegogo has a resource center where entrepreneurs can access videos and other rich content on topics such as how to convert followers to backers, how to test messages, how to provide customer support, and marketing best practices. For additional advice, entrepreneurs can visit StartEngine’s blog, one of which encourages startups to market the raise by running incentives, perks, and ads.

    Listen, learn, tweak

    Browse other crowdfunding campaigns in similar and dissimilar industries to understand what campaigns are doing the best. Take note of how companies position their product or services, whether or not the company used a video, and what kind of messaging was shared on the video to understand what and how the product is resonating with an audience. Incorporate those insights into the materials being developed for your campaign to help draw a big community. When the campaign is ready to launch, be prepared to listen to customer feedback, make tweaks as necessary, and come back with a product that’s ready for prime time.

    A success story

    BLUETTI AC500 & B300S, a home backup power station, was originally set up to raise $1,000,000 on Indiegogo and raised more than $11.5 million through 4,507 backers in its crowdfunding campaign. BLUETTI has since increased its raise to more than $12 million by using the platform’s InDemand tool, which helps businesses extend its campaign to support e-commerce activities. LaunchBoom helped GoSun, a company that promotes solar-powered tech products, launch four different products, including GoSun Chill, the business’ original solar cooler, in 2019 with a raise of more than $700,000.

    The time is now for green entrepreneurs to take advantage of the green market momentum for what could be the difference between a lucrative launch or just a pipe dream.

    Sonia Taylor

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  • Is Energy a Good Career Path Going Into 2023?

    Is Energy a Good Career Path Going Into 2023?

    You might feel a little overwhelmed if you’re a young professional or looking to start a second career. After all, there are dozens of different options and fields you can go into, whether you want to pursue a specific degree or start job hunting right off the bat.

    With all the news buzz surrounding green energy in recent years, you might wonder about entering the energy industry.

    Is energy a good career path going into 2023 and beyond?

    The importance of energy in the future

    The world runs on power, and energy will only become more critical in the future as the industry shifts, global warming accelerates and more people are born. According to Stanford University, fossil fuels such as coal, natural gas and oil make up 80% of the world’s energy.

    However, renewable energy technologies and extraction techniques will need to be developed soon.

    If the planet is to avoid the worst effects of climate change, global emissions must be reduced by half by 2030 and reach net zero by 2050. In other words, the world will need lots of people working in the energy industry in the near to long-term future.

    People won’t stop using lights, heaters, vehicles and other technological advances. Instead, global society must develop new ways to harness and extract energy from the environment. Energy is sure to be even more critical in the years to come than it is now.

    So, is energy a good career path?

    Therefore, it’s a no-brainer to suppose that getting into energy could be a wise career choice. This is true whether you are starting your professional life or looking to change careers.

    Related: The Best Careers for Your Personality Type

    Working in the energy industry could have you learn skills or tackle problems like:

    • Solar panel installation
    • Energy research
    • Energy technology development
    • Climate control solutions
    • And more

    You’ll have to determine whether you want to work on these problems and solutions for your professional future. Entering the energy industry may set you up for long-term success and plentiful career opportunities.

    But it’s a far cry from the arts or more creative pursuits. Consider your degree major, personal and educational interests, and other factors before committing to this path.

    Advantages of choosing energy as a career path

    There are many advantages to choosing energy as your career path going into 2023.

    Work Environment

    For starters, you’ll likely get to work in a wide range of different job environments, not just in a cubicle or the same office daily.

    For instance, as a wind turbine technician, you’ll sometimes work in an office, a garage, and outdoors at different wind turbines the rest of the time.

    The same is true if you become an energy consultant or a similar professional. Energy consultants help businesses determine how they can maximize their green energy consumption and minimize their carbon footprints.

    Related: How to Start a Consulting Business: Your One Page Business Plan

    As a result, they travel around the country, visit many different people and places, and develop novel solutions in terms of architectural setup or energy grid access.

    If you’re craving a little variety in your professional life, the energy industry could be the place to find it. Of course, keep in mind that if you become an administrator in this industry, you may work primarily in office or corporate professional environments instead of “in the field.”

    Job security

    In addition, the energy industry is home to many secure jobs. If you get a career in the energy industry, you likely won’t have to worry about your job being cut or downgraded soon.

    Why? The world will continue to need energy in 2023 and beyond. That means it will need knowledgeable, highly trained professionals to efficiently access, harness and distribute that energy.

    This could be a refreshing difference if you’ve already worked in an industry where your job was constantly on the line.

    Job security is important to many Americans. When you get an excellent job in the energy industry, you can work that career for decades, providing much-needed financial stability for you and the future family you hope to raise.

    Possibilities for advancement

    On top of that, the energy industry will provide ample opportunities for advancement for go-getters and rockstar employees. For instance, you can start working for a local energy company, become a supervisor or manager, and become an administrator.

    On the research side, the world will always need new inventions and ways to access clean energy. This will give creative, bright individuals a chance to prove themselves and make a significant difference in this industry for years to come.

    Put another way, getting into the energy arena will allow you to distinguish yourself and make a real career, not just hold down a job. That’s important for many Americans, particularly those who get much life satisfaction from their professional achievements and accolades.

    Do good for the world

    Perhaps most importantly, getting into energy as your career path will let you do some good for the world.

    As noted, the effects of climate change are already being felt, and things will likely get worse before they get better. Increased storm frequency, flooding, animal species extinction, and more are all minor side effects compared to what the world likely faces over the next few decades.

    But if you join the energy sector, you have the chance to do some good and mitigate those effects. With the right technologies and energy advancements, the world can reach carbon-neutral by 2050 or even earlier.

    Joining the industry will let you contribute to this great project and help keep the planet as comfortable and beautiful as it is now.

    If you’ve always wanted your work to mean something beyond a paycheck and job stability, good news — the energy sector is a place where you can find work like that.

    Related: 4 Reasons Following Your Passion Leads to Success

    Good paying jobs in the energy sector

    Should you choose to get into energy as your career, you’ll have a plethora of well-paying jobs to choose from.

    Take wind turbine technicians, for example. According to some sources, wind turbine technician is America’s fastest-growing job. It should grow by up to 108 percent by 2024; in other words, there will be plenty of open positions in this field over time.

    As a wind turbine technician, you’ll work to build, repair, and maintain wind turbines to facilitate the collection and distribution of clean energy across the electrical grid.

    But that’s not the only high-paying, in-demand job in the energy sector you can pursue. Here are some more examples:

    • Architectural manager: Such professionals make plans, direct and coordinate projects, and design eco-friendly buildings that facilitate lower energy costs by gathering more natural light or conserving heat. Architectural managers earn upwards of six figures annually, usually around $140,000 annually.
    • Petroleum engineer: Petroleum engineers will still be needed in 2023 and beyond as the world pivots from fossil fuels to renewable energy. Petroleum engineers devise new ways to extract fossil fuels from inside the earth. They may also be needed to do this in as clean and efficient a way as possible. They earn over $137,000 a year on average.
    • Chemical engineer: Chemical engineers produce energy, develop metallurgical solutions to industrial problems, and much more, often making well over $100,000 per year.
    • Wind farm site manager: These experienced professionals earn around $100,000 per year, and they oversee wind farms and wind energy generation operations. They often work closely with wind turbine maintenance technicians and engineers, as described above.

    Related: Why the Tide Is Turning for the Energy Sector

    Of course, you can also get into this industry as a scientist. The world will need knowledgeable scientists coming up with new solutions and ways to collect green energy in ways that maintain the expected electrical grid consistency.

    The primary challenge to renewable energy, after all, is consistency and collection. The sun emits plenty of energy for the world multiple times, but it’s not always shining in the sky. Furthermore, there are limits to how much solar energy modern batteries can store.

    Joining this industry could allow you to solve these problems by designing better batteries, coming up with new energy collection methods, or something else entirely. The sky is literally the limit.

    Who should work in the energy industry?

    Many may find that the energy industry is an excellent professional fit.

    You might consider working in the energy industry if:

    • You are interested in solving climate change and global warming challenges and want to leave the world better off than it was when you were a child.
    • You want to pursue a stable job with ample opportunities for promotions and advancement. If you join the energy industry and do a great job in your position, you won’t need to worry about cuts or job downgrades in all likelihood.
    • You are already interested in one of the related fields, like chemistry, physics, and energy science.

    Note that most jobs in the energy industry are heavily based on math and science. These are STEM jobs, so it may be wise to acquire a degree from a technical college or institution before applying to open positions.

    Related: 7 Myths About Career Transitions That Are Keeping You Stuck | Ellevate

    Summary

    Ultimately, getting into the energy industry could be an excellent choice for your career and your professional ambitions in the long term.

    Getting a job in energy could lead to excellent job security, opportunities for advancement, and fantastic pay. Plus, there are many different jobs you can pursue.

    Want to explore your options before settling on a career? Visit Entrepreneur for more info on the energy sector and everything else you need to help you build your career or business.

    Entrepreneur Staff

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  • Human Composting: Is an Intriguing and Popular New Alternative to Burial or Cremation

    Human Composting: Is an Intriguing and Popular New Alternative to Burial or Cremation

    Opinions expressed by Entrepreneur contributors are their own.

    The phrase “human composting” sounds like something out of dystopian science fiction without any context — but it’s a new and green way lay the dead to rest. The term describes turning remains into healthy soil, and it’s legal in Colorado, Oregon, Vermont, and Washington. In addition, the process was just legalized in California and will soon be legal in New York.


    Mat Hayward / Contributor | Getty Images

    According to Axios, Recompose is a Seattle funeral home leading the way in promoting human composting as a form of interment. Funerals held there have traditional elements; however, rather than taking their final rest in a satin-lined box, the deceased is at the center of a “laying-in” ceremony. In a process Recompose calls “natural organic reduction,” materials such as wood chips, alfalfa, and straw are laid around the body, then sealed inside, launching the process that transforms a corpse into soil.

    Axios’s reporting suggests that human composting may be slightly more affordable than a typical funeral. For composting, transportation, and soil donation, Recompose ceremonies cost $7,000, making the process somewhat more expensive than cremation (median cost: $6,515) and cheaper than a typical burial, which averages $8,805.

    Families can take urns of soil home for ecological use — gardening soil, for example — and anything left is donated by the funeral home to various causes. Katrina Spade, the founder and CEO of Recompose, tells Axios that while “soil is, on the one hand, very sacred and special to the people still living,” it’s also “just soil.”

    “And so to be able to return to the Earth in a meaningful way,” Spade continues, “to the forest, through our conservation partners, I think that’s my favorite option.”

    More than just adding fresh topsoil to areas in need, human composting also reportedly reduces the usual carbon output of traditional processes by 1.2 metric tons.

    There’s probably a much better term for returning to the earth in such a literal manner than “human composting,” but according to Axios, it’s not as off-putting as you’d expect. Katrina Spade tells the site that Recompose has held 200 composting ceremonies, and 1,200 customers are paying monthly installments for future services.

    Steve Huff

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  • How Your Business Can Unpack the Importance of Recycling

    How Your Business Can Unpack the Importance of Recycling

    Opinions expressed by Entrepreneur contributors are their own.

    Consumers in 2022 are well aware of the importance of recycling. After all, they have been bombarded with “recyclable” messaging on their products since the 1970s. But even the most optimistic are frustrated with the lack of progress and accessible recycling processes. As climate change increasingly impacts our daily routines, the urgency of these efforts is increasing.


    PonyWang | Getty Images

    Without swift action, the estimated 11 million metric tons of plastic currently entering the ocean annually will triple in the next 20 years. The time is now — and businesses must take immediate steps to understand the realities of recycling, the opportunity to contribute to a circular economy and the necessity to educate consumers.

    Related: How Entrepreneurs Can Turn Trash Into Profit (Literally)

    Recycling needs a reboot

    The data clearly shows just how confused consumers are about recyclability. There is an alarming gap between recycling perception and reality.

    One new report found that out of the 40 million tons of plastic waste generated in the United States last year, only 5% to 6% was recycled. In fact, glass, plastic and liquid cartons all have a much lower rate of recycling than perceived by the consumer.

    The reality is, most of the materials labeled “recyclable” are not recycled, or are recycled only one or two times before they hit the landfill. So while labeling these materials might seem like an easy way to promote recycling, it’s doing little to protect our planet.

    The good news is that consumers still want to be a part of the long-term solution. More than half of consumers are “less likely” to buy products in harmful packaging, and 44% said they “won’t buy” products in packaging that is harmful to the environment, according to Trivium Packaging’s 2022 Global Buying Green Report.

    But just because consumers like to buy sustainable packaging doesn’t mean they are taking the necessary steps to recycle it. This is why brands must do their part to encourage more recycling, including educating consumers on the large gap between perception and reality. Every business must have a hand in changing consumer behavior by creating recycling content across brand channels, communicating messaging about sustainable materials and finding ways to encourage and incentivize the recycling of their products and packaging.

    Related: What Is Sustainable Entrepreneurship, and Why Does it Matter?

    The switch to circularity

    It’s time for leaders to dig deeper and look at materials that recycle forever without degrading in quality and that have high recycling rates. These materials, like metal and glass, stay in the circular loop forever, achieving much higher levels of circularity.

    For example, 84% of steel packaging in Europe is recycled. Once it’s sourced, metal packaging is infinitely refillable and versatile, ultimately making it much more economical and environmental because of its durability.

    Reducing waste and moving away from the culture of disposability is one of the most significant shifts in modern-day consumerism. Brands must get on board. By moving away from materials that have a limit to the number of times they can be recycled and towards materials that can be recycled forever, companies large and small can not only move the needle in their own sustainability goals but contribute to a circular economy and help save our planet.

    Related: Being Eco-Friendly Is Hard. Here, 6 Business Leaders Explain Their Most Effective Strategies.

    Investing in the infrastructure: Public and private responsibility in the circular life cycle

    If businesses believe government policies are supportive of improving their environmental footprint, they’ll be more confident in transforming their manufacturing process to support infinitely recyclable materials. Conversely, there’s much that every brand can do to support a stronger recycling infrastructure.

    In recent years, large consumer brands have banded together for major recycling infrastructure investments. Companies have also worked directly with processing centers to invest in enhanced recycling machinery or partnered with recycling centers to promote new technologies that more accurately and efficiently sort recycled materials.

    No matter what size company, there are ways to participate. There are many examples around the world of businesses, government entities and communities collaborating to keep trash out of landfills. Many offer collection programs, even for hard-to-recycle waste streams, and work with businesses to enhance their circular supply chain, ultimately keeping materials in circularity.

    Related: Why You Need to Build Sustainability Into Your Business Strategy

    Implementation and education

    In a recent study, 88% of consumers said they wanted brands to help them be more sustainable and ethical in their day-to-day lives. And there’s no better platform to communicate important messages to your consumers than the packaging itself.

    Featuring language on packaging such as “metal recycles forever” and “100% Recyclable, Forever” across packaging or point-of-sale materials on digital platforms and social channels will help to both promote eco-friendly credentials and communicate the call to action to the end user.

    Recycling is far from the simple panacea that the advertising spots from the past 30 years wanted us to believe. It’s complex and it takes work. It’s time to take on that complexity and take recycling to the next level — which is circularity. That requires a check of existing sustainability goals. Small businesses that understand how to take advantage of this new circular infrastructure will win — and help save the planet in the process.

    Rob Huffman

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  • Taco Bell Is Now Offering an EV Charge With That Chalupa

    Taco Bell Is Now Offering an EV Charge With That Chalupa

    On Thursday, a Taco Bell franchise in South San Francisco opened its first ultra-fast charging station in the parking lot.

    The restaurant chain, in partnership with ChargeNet Stations, plans to open solar-powered charging stations at 100 Taco Bell locations in California over the next year.

    “You can get an EV charge and a chalupa all in one easy stop,” said ChargeNet Stations CEO and Founder Tosh Dutt. The ChargeNet Stations offer, on average, a 100-mile charge in 20 minutes for about $20.

    The companies say the locations are being chosen to make EV charging available in traditionally underserved communities, providing charging access to people who may not have a home charging station.

    California plans to ban the sales of new gas-powered cars and trucks by 2035, and analysts estimate that, by 2040, there will be 64 million electric vehicles in the U.S. To date, we’ve only built 4% of the charging stations needed to charge them all.

    That’s potentially a lot of cars waiting in the drive-thru in need of something more than a chalupa.

    “We’re solving a demand problem we know is coming,” said Dutt.

    Jonathan Small

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