I believe you [Ben Wetmore] are responding to the article about the Green for Green Sustainable Initiatives Competition put on by the Loyola Association of Students for Sustainability.
First, I’ll just say that the spirit of the contest is very much about promoting projects that are both environmentally and economically sustainable. If you go to LASS’ website, you can read more of the specifics about the competition and, I hope, see that for yourself.
I hope you’ll also notice that LASS is motivated by an emerging trend in environmentalism and business – the triple bottom line or integrated bottom line: people, planet and profit.
As you’ve suggested, many times the most effective projects, both economically and environmentally, are about energy efficiency. But I would caution against a naive optimism that simply letting the market work will automatically solve environmental problems.
In fact, if you’re arguing for free markets, it’s not even accurate to say that fossil fuels have gained their market share purely through competition in the free market; they have been and are hugely subsidized.
Clean energy – wind, solar, geothermal, biofuels, hydro, etc. – are emerging technologies and will need continued research and development to become competitive. But when these technologies, along with smart grids and local production, reach their potential, I think you will see an explosion in these markets.
Maybe someday there’s even the possibility of clean coal through carbon sequestration, if coal is your thing. What’s clear right now, though, is that fossil fuels have enormously negative environmental impacts – coal mining around the world is a horribly destructive practice for the communities where it takes place – and what’s more, the fuels are non-renewable.
So, yes, unleash the power of free markets and entrepreneurship, but why not challenge those emerging entrepreneurs to innovate for social and environmental benefit as well? Those are the kind of seeds we want to plant through the Sustainable Initiatives Competition.
Josh Daly
LASS Advisor and Associate Chaplin
