The U.S. Department of Commerce issued a report last month that indicates — as many have over the past several months — that the green sector of the U.S. economy appears poised to grow quickly.
We already knew this, but it’s always nice to hear.
The report also said a lack of data and multiple definitions of “green” make identifying trends difficult. Specifically, the “green share” of total product shipments in the manufacturing sector grew from 1.3 percent in 2002 to 1.4 percent in 2007, using a broad definition of what constitutes “green,” according to a press release. Using a narrower definition led to a finding of zero growth between the two years, according to charts in the document.
The report surmises consumer demand for green products and services and high energy prices that create incentives for firms to develop more energy-efficient goods and services are driving growth.
Regardless of the trends, we’re moving in the right direction. And government has been and will continue to be a crucial driving force as we navigate the road ahead.
In fact, here’s what Commerce Secretary Gary Locke said in a statement accompanying the report:
“The Obama Administration's agenda for economic recovery depends in part on efforts to develop clean energy and energy-efficiency technology. These reports provide important insights and are a valuable foundation to measure our success as that agenda moves forward.”
And as that agenda moves forward, the private sector would do well to incorporate a strong government strategy within business development plans. Executives might also want to brush up on their knowledge of Environmentally Preferred Purchasing directives.
We’re moving in the right direction, but now is definitely not the time to cruise.
For more information, please contact Heather Sabharwal at email@example.com or 202-349-7016.
Fri, May 6, 2011
by Kevin Matthews filed under