Question

Thinking about an “ideal future” for yourself and the environment, in what ways might businesses contribute to the preservation of natural resources? In what ways might businesses circumvent the limits to growth?

Answer 1

The "Ideal future" that one should aspire for herself and surroundings must include some common features, like Its should be-

1. INCLUSIVE for the whole human generation as well as for other life forms on the earth.

2.SUSTAINABLE i.e. should not deplete the resources unnecessarily and make future generations vulnerable.

3.WHOLISTIC i.e should include every aspect of development i.e. economic, social as well as civic.

Part 2: Businesses can contribute alot to ensure sustainable , inclusive and prosperous future for ourselves as well as for environment.

It is often argued that Development and Environmental activities are inversely proportional i.e. if one goes up then other have to suffer, but its always not true if we take those steps in achieving economic growth and development that are long lasting and sustainable.

Businesses can ensure effective utilization and avoid unnecessary depletion of natural resources by investing in R&D , more in emerging technologies like AI, machine learning etc. which will be more efficient in experimenting and judging the pros and cons of a project.

Businesses can switch their needs from conventional sources of energy like coal towards renewable souces of energy like solar, wind energy etc.

In this way development will be inclusive for every strata of society.

Part3- By investing in in such disruptive technologies, its no doubt businesses will have channelise more economic resources towards R&D and devote extra time as well hence their is also need support of respective Governments like tax incentives, technology incentives, strong patent laws etc.

Then Businesses will invest willingly and heavily on R&D and in this process will need new skilled manpower, new domains of businesses will emerge that will give boost to traditional communities for their rich knowledge of environmental friendly practices, more environmental friendly processes will emerge and will give many direct and indirect social and economic benefits.

Hence in this way business will contribute in sustainable economic growth for thw whole generation and other life forms on the earth.