Green Economy and Entrepreneurship: Sustainability and Ethical Responsibilities in Business

Green economy and entrepreneurship have set environmentally friendly mindset to the fore, in business contexts; and, they contribute to the Sustainable Development Agenda and the overall goal of world prosperity. 

The Context of Green Economy and Entrepreneurship  

Green economy is the notion that defines an economic frame that sets green growth as an addition to the overall economic aim. It is an approach based on the following three principles:  

  • Low carbon emissions. 
  • A protective approach of Earth’s resources. 
  • And, the factor of social inclusion. 

This type of economy invests in natural assets and planetary prosperity at large. Furthermore, resources consumption and production are looked through a preventive, restorative, and sustainable lens, where the area of technology is integrant.  

Apparently, this economic approach redefines entrepreneurial activity (green entrepreneurship); and, conversely, entrepreneurship contributes to economic and green growth. Therefore, as green entrepreneurship we refer to financially viable business activity that abides by the 3 aforementioned principles of the green development model. 

Green economy and entrepreneurship meet the criteria set by the formation of the 2030 Agenda. Not only by encompassing the environmental factor, but because they fulfill current demands and developmental standards, without jeopardizing the future of next generations (sustainable development). 

Successful Examples of Green Entrepreneurship  

Here are 4 business examples that have developed an ethical entrepreneurial activity centered on planet’s protection: 

  1. Fairphone is an organization in the field of electronics, whose business operation is founded on fairness towards people and planet. 
  2. Hipp International produces organic baby food with respect to the balance of the three dimensions of environment, society, and economy.  
  3. M2i Lifescience focuses on crop protection through the integration of pesticide-free approaches. 
  4. Finally, Hydromx Inc manufactures energy solutions under the principle of energy efficiency, through the application of high technology. 

Green entrepreneurship combines financial profitability with service or product provision, by adopting an anthropocentric approach by focusing on the environmental aspect. Admittedly, such businesses, with ethical environmental orientation, reinforce the aims of economic development and green growth as well.  

The MOTHER strategic partnership investigates the entrepreneurial options for young professionals, in an entrepreneurial landscape that constantly reshapes. The focus of this Erasmus+ project is oriented entrepreneurship with social impact. 

If you want to learn more about MOTHER initiative, visit the project’s official web page. 

Written by
Anastasia Oikonomoula (IED team)

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