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What will drive the green economic incentive?
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"The world needs to go green." This notion has been progressed in a variety of fashions – at global warming summits, in presidential addresses and in public discourse.
The social concern is there. The environmental incentive is obvious, and even the political element is beginning to pick up. On Thursday, the Global Legislators Organization reported that each of the world's 16 largest economies have advanced some form of climate change legislation.
However, the most important element in getting the green sector on its feet is simply not up to snuff. Fossil fuels, for example, are simply more economically efficient, and consumers are not jumping to launch recycling programs or switch to compact fluorescent light bulbs.
But that's not to say financial incentives are completely lacking. There are many economic motivations and they appear to be growing. Last year, for example, global clean energy investment grew by 30 percent – the largest jump in the industry's history.
What's more, green marketing and energy consulting services are being launched on a seemingly constant basis, providing much needed competition to the burgeoning movement.
However, it remains that when it comes to the most pressing environmental concerns – energy sources, fuel efficiency and greenhouse emissions, to name a few – most of what's being advanced is the result of political, not economic, stimuli. And until the economic incentive can blanket the market, it will continue to lag.
As Burlington Free Press contributor Tim Johnson puts it, "whether green enterprise will become a major economic engine in American society at large – and create myriad new jobs of all kinds that somehow tip society's balance in favor of 'sustainability' – remains to be seen."
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