A transition towards a greener economy

A low-carbon, resource-efficient, and socially inclusive economy are what we mean by a green economy. In an economy of this nature, infrastructure and assets that enable decreased carbon emissions and pollution, improved energy and resource efficiency, and the prevention of the loss of biodiversity and ecosystem services are what generate growth in employment and income.

Here we organize several current and emerging technologies into a practical innovation glossary. Find below the core innovation definitions along with related articles and startups.

A

Alternative Fuel

All products and sources are derived not only from petroleum, but also produced domestically to reduce dependence on imported oil, and some are generated from renewable sources. This is often used to protect the environment by producing less pollution than gasoline or diesel.

Examples of alternative fuel products: biofuel, ethanol, methanol, hydrogen, natural gas, and propane.

Global Startup:

• Manta Biofuel: US-based startup that produces carbon-neutral crude oil biofuel by utilizing algae to build a scalable, reliable, and cost-effective system.
• Biofuel Evolution: Introducing BeBlock, a unique system created to produce a liquid biofuel with the purpose of reducing the amount of waste associated with greenhouse gas emissions.
• Innoltek: In March 2014, Innoltek began the production of biodiesel, a renewable fuel, with the goal of manufacturing and market biofuels and biodegradable industrial products.

C

Carbon finance

A new type of financing called carbon financing gives carbon emissions a monetary value and enables businesses that want to offset their own emissions to do so by purchasing carbon credits from environmentally friendly projects. This makes it possible to finance creative initiatives that offer people living in developing nations around the world access to sustainable energy solutions.

Companies utilize carbon credits to make up for their carbon emissions by complying to emission limits or funding environmentally friendly initiatives. This is often accomplished through an exchange, also known as carbon finance, in which a project partner, whether public, commercial, non-profit, or another entity, is compensated annually for the emission reductions produced after the project is operational.

Tonnes of carbon dioxide equivalent are commonly used to quantify emission reductions (tCO2e). One carbon credit is equal to one tonne of CO2 that is not emitted, for comparison.

C

Circular economy

The circular economy aims to maximize resource utilization yields in the economy and, as a result, reduce waste production. The main goal is to “close the full loop” (cradle to cradle) of the production cycle and maximize material recycling and re-use. The idea encourages new product design to make reuse and recycling easier, as well as new product-service models that alter how we consume products and who owns them.

The circular economy is founded on three design-driven principles:

1. Cut back on waste and pollution
2. Distribute goods and supplies (at their highest value)
3. Regenerate nature

Companies:
1. Apeel: Apeel has developed a creative method to reduce single-use shrink-wrap plastic packaging on fresh fruit and vegetables while also addressing food waste.

2. thredUP: It has developed a smarter and simpler way to buy and sell used clothing through its regulated marketplace.

3. Natura Brazil: The vast array of goods produced by Natura, such as soaps, creams, and shampoos, all rely on the Amazon’s rich biodiversity for ingredients and materials as well as the “bio-intelligence” of the nearby communities.

E

Energy transition

Green energy transformation and democracy go hand in hand. Evidence from 83 developed, emerging markets, and developing nations shows that democracies have recently displayed a greater willingness to adopt green recovery policies, reduce their reliance on fossil fuels, and raise the price of these fuels. Countries that have recently taken efforts to green their economies tend to be more free and democratic than those that have not; these nations tend to be less free and more autocratic. Since what happens in G20 economies has significant ramifications for the future of the global economy, including other global environmental threats, the relationship between democracy and greenness is vital.

The US, the EU, and other major democracies must work together to promote a green transition if they are to lessen their economic vulnerability. The G20’s top democracies should agree to phase out subsidies and tax breaks for the extraction and use of fossil fuels. In addition, to pay for the costs of regional air pollution, global warming, and other economic damages, they should also gradually introduce more efficient pricing of fossil fuels through taxes or tradeable permits.

E

Environmental Remediation

Environmental remediation entails removing contaminants from soil, surface water, groundwater, sediment, and so on. It is utilized to restore a contaminated area and protect human health against potential harmful effects in the environment.

List of several environmental remediation programs around the world:

• Nuclear sites under the environmental management program of the United States Department of Energy in the United States of America
• Uranium mining sites in former East Germany, i.e. the Wismut project, and the former uranium mining and milling sites in Central Asia
• Contaminated sites caused by the Chernobyl and Fukushima accidents
• A contaminated site caused by a radiological accident in Goiânia, Brazil

Global Startups:

• Ari Global Technologies: Offers thermochemical conversion technique (TCCT) to eliminate asbestos fibers and create a non-hazardous product that may be recycled in numerous developing applications.
• Parametrix: an Engineering Planning Environmental Sciences that provides engineering, planning, environmental services, land surveying, and construction services.
• Ecoworth Tech Pte. Ltd. (EWT): a Cleantech firm commercializing Carbon Fibre Aerogel technology, concentrating on waste to value-creating applications in industrial wastewater treatment and Oil & Gas decontamination.

G

Green-building industry

The idea of creating structures and procedures that are environmentally responsible and resource-efficient throughout a building’s life-cycle, from siting to design, construction, operation, maintenance, renovation, and deconstruction, is known as green building, also known as sustainable building or green construction.

Its key objectives are to protect natural resources like water, energy, and raw materials; combat global warming (the emission of greenhouse gases); reduce waste and other pollution, and maximize overall life-cycle performance.

Global startups:

• Sepulo Holdings Berhad: Sustainable lifestyle solutions provider
• Thermulon: Thermulon has developed a novel chemical pathway to produce building insulation materials.
• GreenVibe: Smart sensors from GreenVibe can be embedded into the concrete of any building component. They have created a method to measure the concrete’s strength and other properties that is IP protected and based on a unique physical effect and trade secret material.

G

Green Transportation industry

Reducing the use of petroleum-fueled vehicles, ensuring that vehicles along with other modes of transportation are environmentally friendly with a sustainable focus on human power, renewable energy, or alternative energy.

In real cases, public transportation act as a medium to encourage passengers not to travel in their own vehicles. Inventions such as battery electric cars are also one of the ways to help reduce the usage of petroleum.

Global Startups:

• Magway: An all-electric, zero-emissions, low-footprint, high-capacity delivery system.
• Gogoro: A Taiwanese company that developed a battery-swapping refueling platform for urban electric two-wheel scooters, mopeds, and motorcycles.

R

Renewable Energy

Renewable energy is defined as energy attained from natural sources which replenished at a higher rate than it is consumed. There are plenty of renewable energy sources around us including wind energy, solar energy, geothermal energy, and hydropower.

Green energy and clean energy are often associated with renewable energy sources, but there are some distinct ones among these energy sources. While green energy comes from natural resources, clean energy does not produce pollutants like carbon dioxide, and renewable energy is things that can be recycled.

Global Startup:

• Enpal: Founded in 2017 from Germany, Enpal is a solar panel manufacturer which also provides services for installing panels.
• EH Group: Focused on the development and production of innovative fuel cell technologies. Developed a green fuel cell technology that transforms the chemical energy of hydrogen cells into clean electricity.
• Econergy Renewable Energy: An international Independent Power Producer of utility-scale renewable energy projects driven by deep industry, regulatory and technology expertise from origination to supply.