Long-term competitive advantage can be created by engaging with trends and opportunities early. Governments and businesses that move aggressively to adapt to a future that demands environmentally sustainable operations will reap the benefits of being early movers.
By aligning with industry on policy and regulatory solutions to mitigate, prepare for and respond to the impacts of rising average temperatures policymakers can increase the certainty, stability, predictability and flexibility that the business community wants and needs to succeed in a changed world.
Arizona is well-positioned to capitalize on the emerging and fast-growing $1.3 trillion green economy*. Well-capitalized corporations are embracing sustainability. To continue to attract those corporations to Arizona it is vital to build the in-state capacity to meet their clean energy goals at a low cost.
72% of corporations responded that risks to the environment and nature could significantly impact their business**. The risks in Arizona include water shortages, forest fires, floods and wet-bulb temperatures in hot areas. It's in the best interest of Arizona businesses and governments to join in the fight for conservation.
Businesses worldwide have reported that in certain sectors transitioning to sustainable operations can lead to lower costs, higher revenues and greater yields in the long-run. Government can play a role by supporting industry in the transition to a green economy.
Sustainability also represents opportunities to revitalize communities, especially rural towns, that are dependent on declining industries like coal power and certain mining operations transition to new opportunities while preserving our rural history and traditions.
Transitioning to a greener economy means available water, clean air and diverse flora and fauna, which makes all of us, our children and our grand-children wealthy in ways that can't always be measured.
* Georgeson, L., Maslin, M. Estimating the scale of the US green economy within the global context. Palgrave Commun 5, 121 (2019). https://doi.org/10.1057/s41599-019-0329-3
** Chase, M., Norton, T., & Wright, C. (2016). From Agreement to Action: Mobilizing Suppliers Toward a Climate-Resilient World. BSR. https://www.bsr.org/en/our-insights/report-view/bsr-cdp-climate-change-supply-chain-report-2015-2016
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