Environmental Stewardship is Right for Our Climate and Economy
Today is Earth Day’s 46th anniversary. And the world is celebrating this important milestone by taking unprecedented action. At the United Nations, more than 100 global leaders from around the world, including the United States, are expected to sign the Paris Agreement on climate change, ushering in the most concerted effort in history to battle global warming. By signing this accord, leaders are sending a clear message that the global community will confront the climate crisis head on.
Traditionally, Earth Day’s message has focused solely on conservation. But in the 21st century, the intersection of environmental sustainability and economic sustainability provide us with an opportunity to exponentially grow both our conservation efforts and our economy. Innovations in the private sector are making Mother Earth healthier and catalyzing economic growth.
The clean energy sector in the United States is a great example of this intersection. Today, more than four times as many Americans are employed by renewable energy companies than by the fossil fuel industry. In fact, since 2013, the United States has added more than 125,000 clean energy jobs. And last year, clean energy accounted for more than 70 percent of new energy projects in the United States.
According to the Pew Clean Energy Initiative, by 2035, global energy investment will reach nearly $50 trillion and the majority of that is going towards clean energy projects. The United States has an enormous competitive advantage in its technology sector, which underpins the clean energy industry. Which means the rising demand for clean energy will be a boon to American companies and workers and even better for our environment.
Or consider our oceans, a critical resource that is threatened by a variety of human activities, but where entrepreneurs are making a difference. An innovative company called Waste to Worth in the Philippines is converting waste found in the ocean into energy; a Chilean company is recycling discarded fishing nets that foul the ocean to make skateboards and sunglasses.
A similar entrepreneurial approach is driving the nascent success of wildlife conservation efforts in Africa where illegal traffickers are decimating elephant and rhino populations. A dead elephant’s tusks will fetch around $21,000 for a poacher. But the estimated tourism value of a single living elephant is $1.6 million over the elephant’s lifetime. The key to persevering Earth’s majestic creatures is mobilizing local communities to embrace an economically sustainable conservation model.
Businesses are also making important inroads to address deforestation. Forests are Earth’s natural technology to battle greenhouse gas emissions. But when they’re cut down we lose significant capacity to absorb carbon dioxide. During the Paris negotiations, two of the world’s leading multinational consumer goods companies announced plans to “green” their supply chains. They will try to create an industry standard by prioritizing sourcing from suppliers that specifically try to preserve forests.
These efforts, and many others like them, are good news for our planet. This Earth Day the twin challenges of economic growth and protecting our planet are increasingly converging. We can both do well and do good!
This entry also appears on DipNote, the State Department’s official blog.
