As an economist, I subscribe to the belief that an idea will get further if there is an economic incentive to support it.  For so long, the discussion among businesses has been along the lines of “Can we afford to focus on the environment, or are we too small to be sustainable?”  It is exciting that we are moving beyond this false dichotomy as many companies realize that they can do well by doing good, a it was argue in a previous post in this blog.

What is even more encouraging to me is that new business opportunities are arising out of sustainability.  I am on the board of advisors for a very successful local dry cleaning chain called Dependable Cleaners. I recently learned that Dependable Cleaners provides eco-friendly hangers to their customers that they receive for free from an organization called Hanger Network.  Hanger Network provides recycled (and recyclable) plastic hangers to dry cleaners at no cost, earning money from advertising that appears on the hangers themselves.

In this instance, all companies benefit from this sustainable idea: Dependable Cleaners is reducing costs and waste, advertisers are gaining access to consumers through a new and interesting medium, and Hanger Network is creating an entirely new business around sustainable practices.  This endevor is a huge win for the environment, helping to reduce the 3.5 billion wire hangers that go into US landfills every year.

I believe that as the number of people interested in sustainability continues to grow, the opportunities for existing businesses to do well by doing good will grow rapidly, as will the opportunities for innovative entrepreneurs to create new markets.

Tags: sustainable design

This entry was posted on Wednesday, May 13th, 2009 by Catherine and is filed under Sustainability. Both comments and pings are currently closed.