Capitalism can be used in a shared, creative way to solve global warming. “Creative capitalism is a response to the long-term fact that too many people are missing out on a historic, century-long improvement in the quality of life. While the world may be getting better the problem is, it’s not getting better fast enough” (Gates & Kiviat, 2008). In todays world business tend to control resources (i.e., innovation, money and the ability to make a difference). New technology includes: solar panels, windmills, smart irrigation technology, and smart cars. In todays market Companies are being held accountable for their social impacts by a new generation of consumers who are more conscious of “green” products.
However sustainability does not fit into some company’s business model. A business model includes these four elements: 1) The value proposing and compelling story, 2) The definition of the customer, 3) A description of the products/service, 4) The distribution channel. Companies can look to their competitors, “Gap, Hallmark, Microsoft, and Dell sell (RED)-branded products and donate a portion of their profits to fight AIDS. RED has generated $100 million for the Global Funds to Fight AIDS, Tuberculosis, and Malaria” (Gates & Kiviat, 2008).
Finding new and creative ways to solve global warming through new technology and innovation will help preserve the planet for future generations, but it will enhance the quality of life for society right now. “Naturally, if companies are going to get more involved, they need to earn some kind of return. This is the heart of creative capitalism” (Gates & Kiviat, 2008).
Companies have the resources to help pave the way, but are reluctant because they do not receive recognition for their hard work. Due to public pressure companies are offering “green” products. For example, “between 2013 and 2017, Wal-Mart will phase in its mandate that 70% of products it sells will score high on its sustainability index. The retailer’s looking for suppliers that reduce: energy use in products, especially toys and laptop computers, water use, greenhouse gas emissions, and, waste sent to landfills” (Giuliano, 2012).
In conclusion, Capitalism can be used in a shared, creative way to solve global warming. “Creative capitalism is a response to the long-term fact that too many people are missing out on a historic, century-long improvement in the quality of life. While the world may be getting better the problem is, it’s not getting better fast enough” (Gates & Kiviat, 2008). If companies were to think about society as a whole and not about their bottom line they could make a major impact in the world. Companies like Wal-Mart are slowly making changes, but these changes need to occur at a faster rate.
References
Annual Greenhouse Gas Emissions by Sector [Graph]. (n.d.). Retrieved from http://en.people.cn/90002/98666/99044/6830157.html
Gates, B., & Kiviat, B. (2008, July 31). Making Capitalism More Creative – TIME. Retrieved from http://www.time.com/time/subscriber/article/0,33009,1828417,00.html
Giuliano, J. (2012, December 14). More pressure for businesses to go ‘green’ — from a different source. Retrieved from http://www.businessbrief.com/more-pressure-for-businesses-to-go-green-from-a-different-source/
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This was a great point of view about capitalism. We need to do what’s best for the planet, not businesses.