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Tag: green entrepreneur

  • Understanding the Latest Trends in the Global Energy Industry | Entrepreneur

    Understanding the Latest Trends in the Global Energy Industry | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    From the energy proposals in the Inflation Reduction Act to new concerns about fuel dependency following the war in Ukraine, it’s been a hectic couple of years for the energy industry, both in the United States and globally. There are several important current trends worth keeping an eye on in 2023 to see how the energy industry, particularly renewables, responds.

    Here are several of the most important trends I’ve noticed for renewable energy companies (and investors). These forces are having the biggest impact right now.

    Fuel costs remain high, with mixed results for renewables

    I expect fuel costs to remain very high, especially natural gas, coal and oil. Global prices have decreased somewhat in 2023, but reports still indicate that energy prices are hovering at an incredible 75% above the average heading into next year. Reasons for this include the war in Ukraine and sanctions against Russia, new geopolitical alignments that have cut oil production, and general high demand in many sectors.

    Some nations are focusing even more on fuel production as a result. United States’ natural gas production and exports have increased, for example. But these high prices have also pushed more investment in renewable energy and helped encourage removing some of the older barriers to development. If your renewable energy business is ripe for expansion or new partners, now is an excellent time to develop a proposal and focus on the need for energy independence, regardless of what’s happening in the world.

    That also means more competition for renewables, but there’s plenty of room for growth in many sectors and energy transition plans pick up steam.

    Related: 3 Ways to Make a Commitment to Sustainability Your Customers Want to See

    Energy storage heats up

    The continued growth of renewable energy in 2023 has also led to realizations worldwide that renewable energy storage hasn’t quite been keeping up with demand. In the United States, this trend with a renewed focus on batteries, from EVs to helping regulate solar systems across the country. Japan and China are also working on increasing battery availability.

    Batteries are only one part of the supply chain issue clean energy is seeing, albeit one of the most notable. But increased production following Covid-19 is helping reduce these tensions and improve production results. Manufacturers should start looking for better supply options if they’re struggling – things are improving!

    Related: Tesla is Quietly Working on a Project to Help Texas’ Power Grid

    The nuclear pendulum swings back up

    Nuclear energy has been an infuriating prospect for energy investors in recent years. It has the potential to fill an ideal niche in the renewables market and circumvents some of the steep problems involved in transitioning to clean energy. But the public generally hates it, and research is conducted at a snail’s pace. Also, renewed fears of nuclear attack or contamination in Ukraine have not been inspiring for the sector. But there’s also lots of good news.

    In 2023, nuclear may finally be ready to assume a key place in clean energy plans worldwide. Germany is rethinking after pulling back from nuclear power in recent years. New plants are being built in Georgia (U.S.), and American research continues to unveil new ways to make nuclear energy more efficient for older reactors and safer for newer models being planned. Turkey, Egypt and China are also investing in new nuclear plants as well. Now’s the time for nuclear to show the role it will take.

    States war between renewables and the old guard

    This trend is most noticeable in solar states like California and Florida. Still, it is happening in many ways across the U.S. Existing power producers, fiercely protective of their rate management and grid operation, are lobbying hard to prevent consumers from benefiting from their solar use. That includes getting rid of credits from selling excess power and limiting future solar installation opportunities. This underlines the need for the renewables industry to spend time on representation and answering proposals like this with quick, decisive alternatives.

    Offshore wind is continuing its march in the United States, with wind companies looking to the 19 GW of offshore wind power working through the permitting phase in 2023. This will unleash a wave of new development in the coming years. Wind is just getting ready for a very eventful decade, but long-term planning is required.

    Related: Top Solar Energy Trends To Look Out For in 2023 and Beyond

    How clean hydrogen has new potential

    One exciting development I noted from the Inflation Reduction Act changes was a new emphasis on clean hydrogen. Also called green hydrogen, this type of hydrogen is safely produced and disposed of without creating a significant carbon footprint. It’s fairly rare in the United States, which uses mostly “gray” hydrogen production. But the IRA includes big tax credits for clean hydrogen, which will likely prompt a mass transition through the United States and open up many new opportunities for carbon reduction programs.

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    Abe Issa

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  • Colts Owner Jim Irsay Spending Millions to Save Miami Orca | Entrepreneur

    Colts Owner Jim Irsay Spending Millions to Save Miami Orca | Entrepreneur

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    This article originally appeared on Business Insider.

    A billionaire philanthropist is backing a $20 million plan to release Tokitae the orca from her small enclosure in the Miami Seaquarium.

    The plan would involve loading the 8,000-pound killer whale on a plane, flying her across the US, and releasing her in a bay near Seattle.

    “She’s healthy, I’ve got the money, let’s move her,” Indianapolis Colts CEO Jim Irsay told “The Pat McAfee Show” last month.

    Friends of Toki, the activist group leading the move with financial backing from Irsay, told Euronews that the animal could be moved within 18 to 24 months.

    Killer whale on a plane

    The plan, which is in collaboration with the owner of the Miami Seaquarium, The Dolphin Company, would see the 21-foot-long killer whale loaded onto a harness and enclosed in a glass tank at the Miami Seaquarium, according to The Times of London.

    That tank would be loaded onto a truck to the Miami airport, where it would be transferred onto a large cargo plane such as a C-130 Hercules, the newspaper said.

    The orca would then be flown with her carers across the US on a 2,700-mile journey to the Seattle Airport, where Tokitae would be taken by truck to the Salish Sea, per the Times.

    The report said that more than $500,000 had already been spent on Tokitae’s “life support systems” for the trip, including filters for her pool water.

    Tokitae, who is not strong enough to swim long distances or hunt on her own, would be transferred to a 15-acre netted area near the San Juan islands.

    Tokitae has been living in the world’s smallest orca enclosure. File photo/Miami Herald/Tribune News Service via Getty Images via BI

    Tokitae has been living in the world’s smallest orca enclosure

    Tokitae, also known as Lolita, has been performing for 53 years. She was captured from Penn Cove, Washington, when she was four.

    The killer whale has been living in the world’s smallest orca tank, which measures 80 feet by 35 feet. She’s the second oldest orca living in captivity.

    According to a 2022 report, Tokitae’s health was rapidly declining. Her health has since improved, thanks in part to efforts to updates to her living conditions. In the midst of activist pressure, notably from the Lummi Nation, an indigenous group that considers her a family member and calls her Sk’aliCh’elh-tenaut, the Miami Seaquarium agreed to stop the orca’s live shows last year.

    Orcas are intensely social animals that form strong bonds with their mothers. The hope is that Tokitae could be reunited with her mother, who is thought to be alive and swimming near where the netted enclosure would be.

    Lii, a Pacific white-sided dolphin who has been sharing Tokitae’s enclosure in the Miami Seaquarium, might be relocated with Tokitae to keep her company.

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    Marianne Guenot

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  • How Social Entrepreneurs Are Changing the World | Entrepreneur

    How Social Entrepreneurs Are Changing the World | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a rapidly evolving world facing an array of pressing challenges, the rise of purpose-driven entrepreneurship has emerged as a beacon of hope.

    Social entrepreneurs are individuals who use entrepreneurial principles, innovative thinking and business acumen to create positive and sustainable social or environmental impact. They are driven by a strong sense of purpose to address pressing societal challenges and improve the well-being of communities and the planet.

    Social entrepreneurs apply the same entrepreneurial mindset used in traditional business ventures to develop innovative solutions to complex social problems. Their primary goal is to generate positive outcomes rather than solely seeking financial profit. They often work to empower marginalized groups, improve access to essential services, address environmental issues and promote social justice.

    This article delves into the transformative force of purpose-driven ventures, exploring their sustainable impact and the supportive ecosystem propelling their success.

    Related: 3 Steps to Forge Your Company’s Purpose-Driven Path

    The emergence of purpose-driven ventures

    Traditionally, entrepreneurship has been associated with profit-driven motives, but a paradigm shift is underway. Social entrepreneurs have recognized that addressing societal and environmental challenges requires more than just good intentions; it demands a sustainable approach that integrates purpose into business strategies. These visionary leaders view challenges as opportunities and harness the power of innovation and empathy to create lasting impact.

    For example, Patagonia, founded by Yvon Chouinard, is a renowned outdoor apparel company that embraces sustainability and environmental responsibility as part of its core mission. They prioritize eco-friendly materials, minimize waste and actively support environmental causes through campaigns like “1% for the Planet,” where they donate a portion of their revenue to environmental initiatives.

    The power of profit and purpose alignment

    Contrary to the notion that profit and purpose are conflicting concepts, social entrepreneurs have unlocked the potential of aligning the two forces for the greater good. By imbuing their ventures with a meaningful mission, they attract a loyal customer base and engage employees who are deeply committed to the cause. This alignment fuels passion, creativity and dedication, propelling these purpose-driven ventures towards remarkable success.

    A good example is Warby Parker, an eyewear company co-founded by four friends (Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider), which has a “Buy a Pair, Give a Pair” business model. For every pair of glasses sold, they provide a pair to someone in need through partnerships with nonprofit organizations. This alignment of profit and purpose has resulted in both business success and significant social impact.

    Related: How to Build a Business that Makes a Positive Impact

    Driving sustainable impact

    One defining characteristic of purpose-driven entrepreneurship is its commitment to sustainable impact. Social entrepreneurs look beyond short-term gains, focusing on solutions that create lasting change. Whether it’s tackling environmental issues, empowering marginalized communities or improving healthcare access, these ventures invest in projects with far-reaching and enduring effects, leaving behind a positive legacy for generations to come.

    Green School, for example, founded by John and Cynthia Hardy, is an innovative, eco-focused school in Bali that integrates sustainability, environmental education and holistic learning into its curriculum. The school’s unique approach empowers students to become changemakers, fostering a generation of environmentally conscious leaders.

    Inspiring stories of social entrepreneurs

    Tony Elumelu is a visionary entrepreneur and philanthropist who has become a leading example of purpose-driven entrepreneurship. As the founder of The Tony Elumelu Foundation, he is empowering African entrepreneurs to drive sustainable economic growth and social development on the continent. Through his foundation’s flagship initiative, the Tony Elumelu Foundation Entrepreneurship Programme (TEEP), Tony Elumelu has provided mentorship and training to 1,500,000 and seed funding to 18,000 young African entrepreneurs.

    There’s also Kiva, an online micro-lending platform, co-founded by Jessica Jackley and Matt Flannery. It connects individuals looking to lend small amounts of money (as little as $25) to entrepreneurs in developing countries. This peer-to-peer lending model empowers entrepreneurs to start or grow their businesses, with the goal of lifting them out of poverty.

    The support ecosystem

    Behind every successful social entrepreneur stands a supportive ecosystem that nourishes their vision. Impact investors, philanthropic organizations and government initiatives play a pivotal role in nurturing purpose-driven ventures. The collective effort of these stakeholders provides access to capital, mentorship and networks that amplify the ventures’ reach and potential.

    Related: 3 Steps for Making a Positive Environmental, Social and Governance (ESG) Impact

    Spreading the movement

    The rise of purpose-driven entrepreneurship is not an isolated phenomenon. It is part of a global movement towards a more sustainable and equitable world. As these social entrepreneurs blaze a trail, they inspire others to follow suit, creating a ripple effect that catalyzes positive change across industries and borders.

    B Corporations, also known as B Corps, are businesses that meet rigorous standards of social and environmental performance, accountability and transparency. These Save & Send for Review companies include Patagonia, Ben & Jerry’s and Seventh Generation, among others. The B Corp movement is spreading globally, inspiring businesses to pursue not just profit but also purpose and positive impact.

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    Taiwo Sotikare

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  • Cool Pavement in Phoenix Adding Some Relief to 110 Degree Days | Entrepreneur

    Cool Pavement in Phoenix Adding Some Relief to 110 Degree Days | Entrepreneur

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    Phoenix is writhing.

    For the past 31 days, temperatures in the desert city have reached or exceeded 110 degrees, sizzling the previous record of 18 days set in June 1974.

    The historic heatwave blasted the Southwest in late June, stretching from Texas into California’s desert. But it’s been the city of Phoenix that’s felt it the worse.

    The heat is taxing hospitals, the city’s infrastructure, and residents’ patience.

    “It’s wearing on people,” Kevin Conboy, a physician assistant with Circle the City told the New York Times. “Everyone’s temperatures are hovering at 100. Everyone is complaining of feeling so fatigued and tired.”

    But some parts of the city aren’t getting so hot, thanks partly to a new cool pavement technology designed to reflect the sun’s rays back into the atmosphere rather than absorb the heat as dark asphalt does.

    The city has painted over 100 miles of road with this coating material, according to the city’s website. City officials said cool pavements “had an average surface temperature 10.5 to 12 degrees lower than traditional asphalt at noon and during the afternoon hours.”

    The website also says that the nighttime air temperatures over cool pavement are half a degree lower than on non-coated surfaces.

    Related: No More AC? Scientist Invents the ‘World’s Whitest Paint’ To Cool Down Your House

    Infrared tests reveal a difference

    The Washington Post recently used infrared technology to examine if the city’s claims about cooling pavement were accurate. On one street, the average surface temperature on asphalt was about 154 degrees Fahrenheit. The road treated with special coating had a cooler average temperature reading of 130 degrees.

    “With the deployment of cool surfaces and smart technology, we can at least offset some of the urban heat effect, if not fully offset it, moving forward,” said David Hondula, director of the Office of Heat Response and Mitigation.

    Phoenix is the first U.S. city with an office dedicated to managing extreme heat.

    The water-based cooling pavement treatment is two to three times more expensive than the standard seal. The city eventually wants to treat 4,000 miles of residential roads.

    Cooling technology at a dog park

    The city pavement isn’t the only public space Phoenix is treating for heat. Researchers at Arizona State University, adhesives company 3M, and the city of Phoenix are experimenting with a new ramada in a dog park coated with Passive Daytime Radiative Cooling, or PDRC.

    The material has higher solar reflectance and thermal emittance than typical roofs, reflecting the heat into the atmosphere.

    “What we found from initial studies were some pretty substantial positive results in terms of these coated shelters’ ability to provide a better environment for pedestrians,” Dave Sailor, director of the School of Geographical Sciences and Urban Planning and the main investigator on the project, told ASU News.

    “It reduced what’s known as the mean radiant temperature, but also convected much less heat into the urban airshed, so it’s a winning solution from several perspectives.”

    The program has also experimented with PRDC at bus stops in the Phoenix area.

    “There’s not a single blanket solution that’s going to work everywhere, but by testing these design strategies, we can put together a portfolio of solutions that work well for providing cooling for the Phoenix metro area,” Sailor said.

    He says more research is still needed to understand the full benefit and consequences to cool pavement.

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    Jonathan Small

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  • What Sustainability Does To Your Bottom Line — Entrepreneur Magazine | Entrepreneur

    What Sustainability Does To Your Bottom Line — Entrepreneur Magazine | Entrepreneur

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    Sustainability initiatives are good practice and something we urgently need to save our planet. But are they also good marketing? Yes.

    I write a newsletter called Ariyh, short for Academic Research In Your Hands (find it at ariyh.com), where I summarize the latest scientific research in marketing and sales. And I see a consistent theme: When brands have well-executed sustainability initiatives, they increase nearly every metric a business needs to succeed. It’s even true with little-known startups and small-to-medium businesses.

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    Thomas McKinlay

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  • Why Companies Are Quiet on Their Sustainability Efforts | Entrepreneur

    Why Companies Are Quiet on Their Sustainability Efforts | Entrepreneur

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    Not long ago, the world’s biggest companies were making splashy promises to tackle climate change. Even those in the business of selling fossil fuels — like BP and Shell — were vowing to slash their emissions. Amazon named an iconic Seattle sports center “Climate Pledge Arena” so neither hockey nor basketball fans could ignore the company’s promise to zero out its emissions by 2040.

    But the past year has brought a change of pace, with BP, Amazon, and other companies scaling back some of their targets. Amid this shift, another trend has emerged: Some companies are choosing not to publicize their climate goals, a strategy called “greenhushing.”

    “It is really, for us, highly concerning,” said Nadia Kähkönen, global director of communications at South Pole, a Switzerland-based climate consultancy and carbon offset developer. “Now is not the time to stay tight-lipped on how we’re progressing.”

    What is ‘greenhushing?’

    The word is a play on “greenwashing,” a well-established marketing tactic in which companies overstate their environmental credentials. In a way, one has led to the other. Governments are cracking down on greenwashing, and the list of lawsuits over deceptive environmental marketing is growing. It’s not surprising that some companies are reacting to this new landscape with silence, rather than risking a costly court case. But keeping quiet makes it hard to scrutinize what companies are doing, and also makes it more difficult for them to learn from one another’s mistakes.

    Some people anticipated that pouncing on greenwashing would result in companies hiding their good environmental practices. Before “greenhushing,” there was “greenmuting,” coined by a former McDonald’s executive in 2007. “I agree there are dangers associated with environmental marketing, but I actually think many companies are reluctant to talk about their environmental efforts because they are concerned they will only be met with criticism,” wrote Bob Langert, then the vice president of sustainability at McDonald’s, in a blog post in response to a report critiquing the “sins” of greenwashing. Langert argued that this “greenmuting” could impede environmental progress by stifling public discourse.

    Fifteen years later, Langert’s concern appears justified. Nearly a quarter of large companies from around the globe have decided not to publicize their milestones on climate action, according to a report from South Pole last fall. Of course, as the subject was “greenhushing,” the data was collected anonymously — South Pole conducted interviews with sustainability experts at companies in 15 different sectors, including information technology, finance, and health care. That report popularized the term “greenhushing,” which has recently made the rounds at prominent news outlets including the New York Times and the Washington Post. “We definitely brought it into the mainstream,” Kähkönen said.

    An ‘avalanche’ of corporate commitments

    The silence isn’t the result of fewer companies making climate goals. In fact, according to Kähkönen, there was an “avalanche” of corporate commitments last year, along with budget increases for sustainability initiatives as companies realized that reaching net-zero emissions was going to be harder than they thought.

    More and more countries are crafting regulations aimed at countering greenwashing. Companies based in France, one of the few countries that already has an explicit regulation that limits greenwashing, were among the least likely to publicize their climate goals, South Pole found. “Companies may be unsure about how to comply with this legislation and are afraid of being sued: they, therefore, give up talking about their targets altogether,” the report says.

    In the United States, the Federal Trade Commission has begun the process of updating the “Green Guides,” the rules that govern environmental marketing. Clarifying those guidelines could make for stronger legal cases against companies that violate them, but lawyers aren’t waiting around for the FTC. In March, a class-action lawsuit in California alleged that Delta Air Lines had misrepresented itself to customers by claiming to be carbon-neutral in advertisements, when in reality it relied on imperfect carbon offsets.

    That same month, the European Union released a detailed set of rules, called the Green Claims Directive, aimed at reining in false advertising around sustainability. Since each E.U. member state can meet those requirements in their own way, it’s creating an atmosphere of uncertainty for companies, said Austin Whitman, the CEO of Climate Neutral, a nonprofit that evaluates and certifies climate pledges.

    “We really, really, really need a lot more disclosure of all the environmental actions that companies are taking, and we need it to be disclosed regularly and transparently, and we need it to be disclosed quantitatively,” Whitman said. “And companies need to feel like they’re able to disclose in a way that is not going to backfire.” He called for the U.S. Securities and Exchange Commission to speed up the development of a framework that would force companies to disclose emissions data in a standardized way.

    Yet another factor at play could be the result of Republican backlash against “woke investing.” Investment giants like BlackRock and Vanguard have scrubbed references to their climate goals on their websites over the last year, according to a recent report from the Washington Post. But Whitman sees the drama over environmentally-friendly investing as mostly separate from corporate sustainability. “I don’t see it as affecting consumer brands as directly as it does asset managers,” he said.

    Whatever the reasons for greenhushing, it’s not all bad news. The companies that were blasting everyone with misleading information about their climate progress finally have a reason to stop, Whitman said. “They should be worried about litigation, regulation, and consumer pressure, and they should shut up about it.”

    Grist is a nonprofit, independent media organization dedicated to telling stories of climate solutions and a just future. Learn more at Grist.org

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    Kate Yoder

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

    How to Choose Carbon Credits That Actually Cut Emissions | Entrepreneur

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    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.

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    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

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    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.

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    Ari Chazanas

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  • Scientist Invents the ‘World’s Whitest Paint’ To Cool Down Your House | Entrepreneur

    Scientist Invents the ‘World’s Whitest Paint’ To Cool Down Your House | Entrepreneur

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    A scientist at Purdue University concocted a white paint that can cool down buildings and prevent global temperatures from rising.

    Xiulin Ruan, a professor of mechanical engineering, created white paint that reflects 98% of the sun’s rays away from the Earth’s surface. When applied to the roof of structures, the paint cools down surfaces as much as eight degrees during the day and up to 19 degrees cooler at night, according to a report in The New York Times.

    “If you were to use this paint to cover a roof area of about 1,000 square feet [93 m2], we estimate that you could get a cooling power up to 10 kilowatts. That’s more powerful than the air conditioners used by most houses,” Ruan said.

    Scientists consider paints like this transformational for cooling down the planet and reducing electricity use, as buildings with this kind of white paint would require less air conditioning.

    And Ruan doesn’t want to stop at buildings. Last year, he announced that he has invented a version of this paint for vehicles, too.

    Related: Going, Going, Gone! Climate Change Is Causing More Baseball Homeruns

    World record holder

    How white is the paint? In 2021, the Guinness Book of World Records named it the whitest paint on earth. But Ruan Ruan told the Times that wasn’t the goal.

    “We weren’t really trying to develop the world’s whitest paint,” Dr. Ruan said. “We wanted to help with climate change, and now it’s more of a crisis and getting worse. We wanted to see if it was possible to help save energy while cooling down the Earth.”

    Unfortunately, the paint won’t be on sale for about another year, as researchers are working on improving its durability and resistance to dirt.

    But with the planet recording record temperatures almost daily, the need for a global paint job couldn’t come fast enough.

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    Jonathan Small

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  • Japanese Plant to Release Radioactive Water Into the Ocean | Entrepreneur

    Japanese Plant to Release Radioactive Water Into the Ocean | Entrepreneur

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    Japan’s Fukushima Daiichi nuclear plant will soon release more than one million metric tons of treated radioactive water into the Pacific Ocean.

    The decision was made after a UN-backed International Atomic Energy Agency (IAEA) safety review concluded that the practice would be “consistent with relevant international safety standards.”

    But critics say that the recent announcement is rash and potentially dangerous.

    “Japan should stop the plan to release the water into the sea, but seriously consult with the international community and consider a scientific, safe, transparent, and convincing response,” said Wu Jianghao, China’s ambassador to Japan, in a news conference.

    Azby Brown, lead researcher with Safecast, an independent radiation-monitoring group., told the New York Times, “So many good scientists feel that the data presented so far have been incomplete.”

    Related: How to Strengthen Your Business Against the Threat of Natural Disasters

    How did we get here?

    In 2011, a 9.0-magnitude earthquake rocked Japan and caused a tsunami that swept over Honshu, killing more than 18,000 people.

    A gigantic wave pummeled the Fukushima nuclear power plant, flooding the reactors and causing them to overheat and contaminate water in the plant with deadly radioactive material.

    Japan has spent trillions of yen fixing the damage, including cooling down the reactors by pumping in water. According to CNN, the wastewater is decontaminated and stored in 1,000 massive tanks, which is about enough water to fill 500 Olympic-sized pools.

    Why Japan wants to release ‘treated’ wastewater into the ocean

    The idea of releasing contaminated water into the sea might seem insane, but Japanese authorities and the IAEA argue there is no other safe option.

    Simply building more tanks is not sustainable, and authorities want to use the land to decommission the plant, which requires dismantling contaminated buildings, not adding more.

    TEPCO, the state-owned authority that operates the plant, says the solution is to run the water through a powerful filtration system that removes most radioactive material and slowly releases the treated water into the ocean. The process could take 30 to 40 years.

    But scientists say not all the dangerous elements can be removed from the water. A hydrogen isotope called radioactive tritium remains.

    Still, the UN’s atomic watchdog, the IAEA, has signed off on this plan. This week, IAEA chief Rafael Grossi is in Japan, meeting with Prime Minister Fumio Kishida and sharing the agency’s two-year safety review results.

    “We will continue to explain the safety of the plan to release the treated water into the ocean to the international community, based on scientific evidence and with transparency,” Japanese Foreign Minister Yoshimasa Hayashi said at their meeting on Tuesday.

    Grossi visited the Fukushima plant earlier today. He is also expected to travel to South Korea and New Zealand to ease concerns.

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    Jonathan Small

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  • July 4th Was the Hottest Day Ever Recorded on Earth | Entrepreneur

    July 4th Was the Hottest Day Ever Recorded on Earth | Entrepreneur

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    Fireworks weren’t the only thing sizzling on July 4.

    According to the U.S. National Centers for Environmental Prediction, the global temperature soared to 62.92 degrees Fahrenheit (17.18 degrees Celsius), making the day the hottest since at least 1979, when the data was first collected.

    But some scientists believe the Earth hasn’t experienced heat like this since mammoths roamed the planet.

    “It hasn’t been this warm since at least 125,000 years ago, which was the previous interglacial,” Paulo Ceppi, a climate scientist at London’s Grantham Institute, told The Washington Post.

    Just how hot was it? According to the Post’s extreme heat tracker, 57 million people in the US were exposed to dangerous heat yesterday. Texas has been under a deadly heat dome since last week, causing a public health crisis in that state.

    Meanwhile, China has also been blanketed by a heat wave, the Antarctic is reporting record-high temperatures even though it’s winter, and temperatures in North Africa soared to 122F, according to Reuters.

    Related: Bad Weather Won’t Ruin Your Vacation Anymore — One Company Will Pay You to Enjoy It Rain or Shine

    The worst is yet to come

    Climate scientists say the scorching weather is due to climate change, El Niño, and the start of summer.

    While Tuesday’s record-breaking average temperature surpassed the previous mark of 62.62 Fahrenheit, which was set the day before, many believe even warmer temperatures are on the horizon.

    “When’s the hottest day likely to be? It’s going to be when global warming, El Niño, and the annual cycle all line up together. Which is the next couple months,” said Myles Allen, a professor of geosystem science at Oxford University, told the Post. “It’s a triple whammy.”

    The heat’s impact on the economy

    The extreme heat doesn’t just impact our health — it also affects the economy.

    “Extended bouts of great heat can result in more hospital visits, a sharp loss of productivity in construction and agriculture, reduced agricultural yields, and even direct damage to infrastructure,” according to Phys.org, a science, research, and technology news site.

    A 2018 study found that hot summer months have a significant effect on the U.S. economy. “The data shows that annual growth falls 0.15 to 0.25 percentage points for every 1 degree Fahrenheit that a state’s average summer temperature was above normal,” researchers said.

    Moreover, the International Labour Organization (ILO) predicts that, by 2030, heat waves could reduce the number of hours worked by more than 2%, which is about 80 million full-time jobs and a cost of $2.4 trillion.

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    Jonathan Small

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  • The FAA Approves the First Flying Car for Take Off | Entrepreneur

    The FAA Approves the First Flying Car for Take Off | Entrepreneur

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    The Jetsons may not be far off from the future.

    The world’s first flying car is one step closer to reality after the Federal Aviation Administration (FAA) approved it for Special Airworthiness Certification, allowing the company to begin testing flights this month.

    Alef Aeronautics “Model A” flying car is fully electric and drivable on the streets and in the air, with vertical takeoff and landing capabilities. The FAA’s clearance marked the first time a vehicle like this has received legal approval from the US Government.

    “This is one small step for planes, one giant step for cars,” said Alef CEO Jim Dukhovny in a press statement, adding that the certification from the FAA “allows us to move closer to bringing people an environmentally friendly and faster commute, saving individuals and companies hours each week.”

    Related: Make Millions in Flying Car Stocks Before They Take Off

    How the Model A works

    The Model A has a driving range of 200 miles and a flying range of 110 miles and fits two passengers in its cockpit.

    The sports car has a carbon-fiber body with an open, mesh-like top with four propellers on each side. Once the car takes off vertically, it turns on its side, allowing the propellers to steer it like a massive drone.

    In an interview with CNBC, Dukhovny explained the car is mostly meant to stay on the road but can take flight for short heights and distances to avoid obstacles. He calls those moments “hop” scenarios, “where the customer mainly uses the vehicle as a car, and only ‘hop’ over the obstacles when needed.”

    Long waiting list

    Dukhovny told news outlets last year that customers can expect the flying car to hit the sky by 2025. The sticker price is $300,000.

    Despite the car’s high cost, enthusiasts are already lining up to be the first to own the new flying car.

    In Q4 last year, the company reported that 440 people had placed deposits for the car. Those shelling out $150 joined the general queue, and those who paid $1,500 will get priority access when deliveries begin.

    Alef may be the first flying car on the market, but it won’t be the only one. Boeing and Fiat Chrysler are in a space race to get their cars into the air. Toyota and Uber have been busily testing flying taxi concepts. And Joby Aviation’s stock soared 44% after receiving a Special Airworthiness Certificate from the FAA.

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    Jonathan Small

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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

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    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.

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    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

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    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.

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    Jason Miller

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  • Ford CEO Slams Tesla’s ‘Silicon Valley’ Cybertruck | Entrepreneur

    Ford CEO Slams Tesla’s ‘Silicon Valley’ Cybertruck | Entrepreneur

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    Ford CEO Jim Farley has a message for Elon Musk’s Tesla: Your fancy new Cybertruck doesn’t keep me up at night.

    Appearing on CNBC’s Mad Money from the Ford headquarters in Dearborn, Michigan,” Farley told Jim Kramer that Musk’s upcoming Cybertruck wouldn’t steal customers from the company’s F-150 Lightning electric pickup truck.

    “If he wants to design a Cybertruck for Silicon Valley people, fine,” Farley said. “It’s like a cool high-end product parked in front of a hotel. But I don’t make trucks like that. I make trucks for real people who do real work.”

    The release of the Cybertruck — Tesla’s first electric truck — has been fraught with delays since Musk first announced it in 2019. But in an earnings call last April, Musk assured investors that the EV would be ready by the end of the year.

    Photo by FREDERIC J. BROWN/AFP via Getty Images

    Telsa is eager to get into the EV truck market. Pickup trucks were America’s top-selling vehicles in 2022, with Ford’s F-Series leading the way. However, Tesla dominates the EV market.

    It’s still unclear how similar the Cybertruck and F-150 Lightning will be. According to Business Insider, the Cybertruck is estimated to sell for around $50,000, while the F-150 Lightning has a $60,000 sticker price. Some have compared the Cybertruck to GMC’s Hummer more than a Ford pickup truck.

    Related: 3 Old School Automakers Making Big EV Strides

    Ford to use Tesla charging stations

    Despite Farley’s tough words about Tesla, the two companies recently agreed to a partnership on charging stations. Ford drivers will be able to use over 12,000 Tesla Superchargers across the U.S. and Canada sometime in 2024.

    Asked if that was a conflict of interest, Farley responded, “I have no problem being opportunistic when it comes to advantaging my customers.”

    He added that Musk was amicable during the negotiations. “More because of Henry Ford than Jim Farley.”

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    Jonathan Small

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  • Restaurants Are Turning Used Cooking Oil Into Biodiesel | Entrepreneur

    Restaurants Are Turning Used Cooking Oil Into Biodiesel | Entrepreneur

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    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.

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    Madeline Garfinkle

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  • A New Study Shows the Milky Way Could Have Alien Life | Entrepreneur

    A New Study Shows the Milky Way Could Have Alien Life | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The University of Florida has just released new research demonstrating that one-third of planets in the Milky Way could be hosting some form of life.

    Sarah Ballard, an astronomy professor from the University of Florida, and Sheila Sagear, a doctoral student at the university, released their findings last week in the Proceedings of the National Academy of Sciences.

    Based on data collected from NASA‘s Kepler and Gaia telescopes, one in three planets in the galaxy could be in the “Goldilocks” zone, where liquid water could exist, and life could potentially exist.

    Related: Hubble Space Telescope Discovers Supermassive Black Hole in Space

    Out of the millions of dwarf planets to host life, the researchers found that it all came down to the number of planets a star has in its orbit.

    “Sagear and Ballard found that stars with multiple planets were the most likely to have the kind of circular orbits that allow them to retain liquid water. Stars with only one planet were the most likely to see tidal extremes that would sterilize the surface,” explains Proceedings of the National Academy of Sciences.

    “Since one-third of the planets in this small sample had gentle enough orbits to potentially host liquid water, that likely means that the Milky Way has hundreds of millions of promising targets to probe for signs of life outside our solar system.”

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    Adrian Falk

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  • 5 Ways Tech Companies Can Improve Their Sustainability | Entrepreneur

    5 Ways Tech Companies Can Improve Their Sustainability | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In an era where environmental concerns have reached unprecedented levels, businesses across all industries face the imperative of adopting sustainable practices. Among the various industries around the globe, the technology sector has emerged as a prominent player, recognizing the pressing need to prioritize green initiatives.

    With growing consumer awareness and demand for eco-friendly solutions, tech companies have realized that sustainability is no longer a mere trend but a critical driver of success that has a significant impact on their bottom line. According to research conducted by Deutsche Bank, companies with high ratings for environmental, social, and governance (ESG) have a lower cost of debt and equity. These findings were corroborated by MSCI in 2020.

    Additionally, the findings show that companies with high ESG ratings outperform the market in the medium and long term. Further, by implementing stewardship-focused programs, companies have not only seen growth in their financials but also in brand awareness.

    By adopting circular economic models, implementing waste reduction programs, and increasing their focus on extended life cycles of their assets, companies are creating a shift toward doing business from an eco-friendly perspective. This shift has created the need for companies that specialize in helping large organizations develop sustainability plans, operate with a focus on being eco-friendly, reduce waste, and implement strong stewardship practices.

    Here are five strategies that tech companies around the globe are using to level up their green credentials while decreasing their negative impact.

    Related: This Is Why Your Business Should Prioritize Environmental Efforts

    1. Embrace the circular economy

    The circular economy model is an economic framework that aims to minimize waste and maximize the efficient use of resources. In contrast to the conventional linear economy, circular economy promotes a closed-loop system where materials and products are continuously reused, repaired, remanufactured, or recycled to create new value.

    According to McKinsey, the European circular economy market size for electronics is expected to grow from €60 to €95 billion by 2030. Additionally, resource productivity is estimated to grow by 3 percent, which will generate cost savings of around €600 billion as well as €1.8 trillion in other economic benefits annually.

    For businesses, one of the most important resources they have at their hands is technology, be it software or hardware. Often, the largest and most impactful investments an organization makes are technology-related.

    With computer hardware accounting for around 30% of overall IT budgets, hardware spending is the largest portion of overall tech spending. Consequently, hardware products, such as laptops, tablets, and smartphones, are often at the top of the list in both cost and volume.

    The circular economy is based on the principles of designing for longevity and efficiency while minimizing waste and pollution. This is achieved by keeping assets and materials, such as smartphones or laptops, in use for as long as possible. Additionally, efforts are made to regenerate natural systems. In 2021, ATRenew reduced emissions by a total of 464,000 metric tons through re-commercializing pre-owned phones. This is equivalent to the carbon sink of about 1,533 square kilometers of urban forests in one year.

    2. Invest in eco-friendly products and manufacturing

    One of the key benefits of the implementation of a circular economy model is the reduction in waste. By prioritizing the reusing, repairing, and recycling of resources, the circular economy model minimizes the amount of waste that ends up in landfills or incinerators.

    According to the European Environment Agency, waste management, industrial processes, and product use account for over 12% of greenhouse gas emissions in the EU. Consequently, a circular economy model reduces the environmental impacts associated with waste disposal and mitigates pollution and greenhouse gas emissions during manufacturing.

    Investing in eco-friendly manufacturing processes and products is crucial for minimizing environmental impact. According to the Ellen MacArthur Foundation, 80% of a product’s environmental impact is decided in the initial design stages. Companies can increase their green credentials by using sustainable materials, reducing energy consumption, and minimizing waste.

    Further, sustainable practices attract environmentally conscious customers, positioning sustainable businesses as leaders in a competitive marketplace. In other words, embracing sustainability is both a moral and strategic imperative for the long-term success of any business.

    Related: How to Overcome the Shortage of Tech Talent in the US

    3. Encourage and facilitate recycling

    Recycling plays a crucial role in reducing electronic waste (e-waste), so encouraging it is important in promoting and advancing a sustainable approach to technology. With technological advancements continuing to happen at an astonishing rate, it is becoming increasingly important for tech companies to take responsibility for the lifecycle of their products.

    Companies can help reduce e-waste and minimize their environmental impact by implementing effective strategies, such as trade-in programs or recycling events that incentivize consumers to recycle their old devices. For example, tech companies can establish partnerships or in-house programs that allow consumers to trade in their used devices in exchange for credit toward a new purchase.

    Not only does this encourage the recycling of devices, but it also promotes brand loyalty and customer satisfaction. Education and awareness campaigns can also be powerful tools, especially considering that many electronic devices contain valuable and limited resources. Materials like lead, silver, copper and gold are essential for manufacturing new technology, making recycling even more attractive.

    Related: The U.S. Has a Huge E-Waste Problem. But There Is Money To Make in Its Disposal.

    4. Extend the lifecycle of devices

    Extending the lifespan of electronic devices offers both financial and environmental benefits. By offering repair services, manufacturers and third-party providers can help consumers prolong the lifespan of their electronic devices. Not only is this often cheaper than buying a new device, but it also reduces e-waste and minimizes the environmental impact of manufacturing a new device.

    Another approach businesses can take to extend the lifecycle of electronic devices is to sell their used devices. By selling thoroughly tested and repaired used devices at a reduced price with a warranty, consumers bask in a vibrant array of choices, extending beyond the realm of brand-new products.

    According to Counterpoint Research, the demand for refurbished smartphones continues to grow. In 2022, the global secondary smartphone market saw growth of 5% year-over-year, with refurbished iPhone sales growing by 16%. Additionally, the secondary market of refurbished devices also creates new opportunities for businesses and consumers to get some of their investments back, reducing the overall cost of ownership and making affordable technology more accessible.

    Manufacturers can also support the environment by making affordable replacement parts available and providing repair guides or tutorials. Companies can extend the lifespan of their products and foster customer loyalty simultaneously by embracing repairability and sustainability.

    5. Foster a culture of sustainability

    Promoting sustainability within the company culture is essential for sustainable organizations aiming to make a positive environmental impact. Integrating sustainability into a company’s core values, practices, and decision-making processes becomes a shared responsibility and commitment among employees, consumers, and stakeholders. This commitment then leads to a range of benefits for all involved parties, as well as the environment.

    Weaving a strong sustainability policy into a company’s foundation as well as educating and engaging employees, sets a whole new standard that also comes with numerous benefits. Not only do sustainable organizations attract quality employees and sustainability-focused customers, but they also benefit financially.

    For example, after successfully defining and implementing a stewardship plan focusing on sustainability, REI now has one of the most successful circular commerce programs of any outdoor retail brand, taking in around 100,000 outdoor-related items to be traded or resold in their store locations in 2022. By integrating sustainability into all operations, tech companies can drive change and contribute to a more sustainable future.

    Related: 3 Ways You Can Bring Sustainability to Your Workplace

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    Kerry Chen

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  • Blockchain Could Help Us Combat Climate Change — Here’s How. | Entrepreneur

    Blockchain Could Help Us Combat Climate Change — Here’s How. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    90% of corporations now view sustainability as a crucial part of their organization’s strategy. But turning recognition of the importance of sustainability into concrete action is often easier said than done. Notably, only 60% of organizations actually have a sustainability strategy in place — representing a 30% gap between the number that view this as important and the number that are actually taking action.

    As part of the effort to get more companies to adopt eco-conscious initiatives, carbon credits have become an increasingly important part of the modern sustainability narrative. But challenges to the effective adoption and use of carbon credits remain. However, with digital carbon spurring a new wave of green entrepreneurship, this is poised to change.

    Read on to learn more about digital carbon credits and how they could potentially play a role in your own efforts to go green.

    Related: Digital Ads Are Fueling a Climate Disaster. Take These Steps to Offset The Industry’s Hidden Toll on Our Planet.

    So, what are carbon credits?

    First, it’s important to understand what carbon credits are and what their role looks like in the current corporate environment. Carbon credits are designed to offset the greenhouse gas emissions of corporations and nations.

    There are two main types of carbon credits. The first is often referred to as a “permit to pollute” or “regulatory compliance credits,” in which a company essentially buys carbon credits equivalent to the amount that they went over the allowed rate. As Investopedia explains, companies are granted a specific number of credits, with each credit allowing for the emission of one ton of carbon dioxide.

    These credits are designed to decline over time, and companies can sell or trade their excess credits. Essentially, the idea is that having credits to “cap” carbon emissions will create a financial incentive for businesses to lower their emissions.

    For example, a country might require companies to limit their greenhouse emissions to 50,000 tons per year. A business that previously produced 70,000 tons of emissions per year must either buy carbon credits or find a way to lower its emissions. Even for smaller businesses, these guidelines can serve as a good way to consider how you can lower your emissions over time.

    The other type of credit (known as “voluntary offset credits”) is obtained when a company offsets its own emissions through its voluntary participation in an environmental project. An organization that invests in a project in areas such as renewable energy or forestry can then obtain carbon offset credits as a way of quantifying their environmental impact.

    Related: Sustainability In Business: Why Change Is Needed Now

    How digital carbon enhances the existing carbon credit market

    Currently, the standard market for creating, selling and trading carbon credits leaves a lot of room for interpretation. “Permit to pollute” credits are government issued — but in many parts of the world, participation in these carbon credit exchanges is relatively limited.

    For example, the United States only has two state-based emissions trading programs. These are the Regional Greenhouse Gas Initiative (RGGI), which is limited to power sector emissions in several Northeastern states, and California’s AB-32 Cap-and-Trade Program.

    Because of this, most businesses only participate in the carbon offsets voluntary market — obtaining carbon credits by investing in sustainability projects. However, offset credits aren’t regulated by the government, which can create challenges for selling, trading and verifying carbon offsets. How can your business manage carbon credits effectively without a clear system in place?

    This is where digital carbon can help level the playing field, improving accessibility and streamlining processes. As a report from Changeblock reveals, digital carbon offers digital credits representing proportional ownership of climate-backed tokens. A central digital platform enables these tokens to be gathered as a single asset that is easily traded. Rather than needing to buy individual tokens from different sellers or marketplaces, digital carbon credits can represent one ton’s worth of emissions from several offsetting projects.

    With blockchain management, each digital carbon credit comes with a comprehensive data packet detailing the transaction. This includes details on emissions reductions quantity and pricing. In some cases, it could even provide transparent access to raw data from sensors such as gas chromatography devices, scales, pressure monitoring systems and more to verify the amount of carbon offset associated with each digital credit.

    This actionable insight and the accessibility of a digital platform help bring offset carbon credits to a significantly broader audience, incentivizing more organizations and individuals to participate in climate change initiatives. Digital carbon credits open up this concept to the masses — so even if you’re “too small” for a traditional carbon credit program, you can still access digital credits.

    Key advantages of digital carbon

    Digital carbon offers several noteworthy benefits that, when properly implemented, allow carbon credits to become more effective in driving the transition to a global net-zero economy.

    By using a digital platform as a central location for tracking and trading carbon credits, these processes will naturally become more efficient and transparent. For organizations that are seeking to sell, trade or verify their carbon credits, this provides a much-needed layer of trust in what is still a largely unregulated industry.

    A digital platform also enhances the potential for organizations to offset emissions on a global scale by being able to support and gain carbon credits for sustainability projects anywhere. This also makes carbon credits more easily accessible to individuals and organizations that might not have the capabilities to undertake carbon reduction projects on their own. For example, you could partner with another sustainability organization, donating whatever money or resources you can, rather than needing to spearhead a sustainability project on your own.

    In many ways, digital carbon is set to support a significant expansion in new sustainability-focused partnerships worldwide by making it easier for companies of all sizes to invest in environmental projects of varied scope and focus.

    Related: 3 Ways You Can Bring Sustainability to Your Workplace

    Creating the future of sustainability

    Demand for carbon credits is only expected to increase in the coming years. As businesses and governments seek to curb their impact on the environment, the ability to effectively create, track and trade carbon and other environmental credits will become even more important.

    With the growing wave of digital carbon initiatives, much-needed transparency and efficiency can make these efforts more effective than ever before. As you consider how your own business can become more environmentally friendly, don’t overlook the potential value of digital carbon.

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    Lucas Miller

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  • Uber Carshare Is Launching in North America—Boston, Toronto First | Entrepreneur

    Uber Carshare Is Launching in North America—Boston, Toronto First | Entrepreneur

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    In 2020, Uber announced it was committing to be a zero-emission platform by 2040, aiming for 100% of trips made on the platform to be in zero-emission vehicles and eliminating unnecessary plastic waste from deliveries on Uber Eats by 2030.

    Now, the company is expanding its climate-forward initiatives by rolling out a series of updates and new features that aim to reduce environmental impact on the planet — including bringing its car-sharing service to North America.

    Uber Carshare first launched in Australia last year. Users can borrow a nearby car for hours (or days) or let people rent their own cars for cash. Although Uber makes suggestions, owners can pick their own pricing and availability of their vehicles. Fuel is included in the cost.

    Related: 10 Billionaires Stepping Up to Fight Climate Change

    The car-sharing feature will be available in North America, starting with Boston and Toronto, Uber announced at its Go-Get event in London this week. However, the exact date the feature will be available has not been announced.

    According to data from competitor Zipcar, sharing a car reduces carbon footprint by up to 1,600 pounds per person per year.

    Other climate-conscious updates announced by Uber were an Emission Savings feature (where drivers and riders can track how much carbon emissions they’ve avoided by taking greener routes), “Green Curbs” at airports (exclusive access to designated pick-up zones at airports for users who opt for Uber Comfort Electric or Uber Green on their way to the airport), and eco-friendly routes (a mapping algorithm that finds drivers routes that are more fuel efficient).

    Related: Uber Eats Is Wiping Out 5,000 Vendors Known As ‘Ghost Kitchens’. Here’s Why Your Favorite Delivery Joint Could Be Axed Next.

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    Madeline Garfinkle

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