Transition to a renewable economy

The good news is that many businesses have started seeing growth opportunities in the green economy, and the bad news is that the urgency of transiting to a renewable resource-based economy is still at a distance from making a credible impact. Given the current pace of transition to renewable economy, it may seem a matter of two steps forward and one step back.  But Steven Cohen remains optimistic about the glass getting full as the transition passes the tipping point of popular acceptance. Such is the urgency that politically polarized countries may have little reason to avoid a unified response. 

Environmentally Sustainable Growth focuses on how the maintenance of material wealth without jeopardizing natural ecosystems in the United States has run apace, as a model in ecological leadership for the developing countries. Quoting the environmental sustainability initiatives by over a hundred leading private companies, Cohen makes it clear that government’s proactive role is critical for on-the-ground action by the private sector. Can use of smartphone technologies to invent products that consume fewer resources than traditional business models be reason enough to be valued in this transition? Often discounted, wealth accumulation by the tech-giants rarely generates enough income opportunities for the society to actively contribute to the transition. This is likely to be a stumbling block in the proposed transition to the renewable economy.    

New technologies, new services, new knowledge and new jobs are emerging, but there remain plenty of unsustainable business practices in the world. And the people who benefit from those businesses do not shy about defending it. No wonder, therefore, that those whose jobs are under threat offer resistance to sustainability everywhere. Given the fact that the transition to renewable economy will mainly take place in the private sector, developing robust and non-partisan regulatory mechanism by the government is critical to ensure that the benefits get equitable shared across the society. Cohen describes a range of public policy and infrastructure initiatives that can encourage cleaner production but doesn’t emphasize its impact on socio-economic realities of the participating societies.

The director of the Earth Institute’s Research Program on Sustainability Policy and Management at the Columbia University, Steven Cohen offers a pragmatic approach on how societies can transform themselves to become more sustainable. Written with rigor and concern, Cohen proposes a set of inter-related pragmatic responses to environmental challenges but cautions that the transition to environmental sustainability will only take place in stages. Optimistic expectations are that the transition in the United States will be well underway by 2030, and largely completed by mid-century. The book depicts an appealing and equitable future that assures quality of life while protecting the planet.

Environmentally Sustainable Growth is an ambitious and optimistic undertaking to trigger credible response from governments, institutions and the society to survive and thrive. Counting inherent goodness in people, Cohen lays stress on breaking through ignorance, blind ideology and misplaced priorities to make the planet a valuable habitat for all living creatures, now and in future. It is a multidisciplinary book that will be informative for students, practitioners, analysts, and academics whose work focuses on environmental sustainability.

Cohen counts environmental crises as an opportunity to forge our collective wisdom to transit into another way of living possibility.  

Environmentally Sustainable Growth 
by Steven Cohen

Columbia University Press, New York

Extent: 216 pages, Price: US$ 30 

First published in the Hindustan Times (Premium), Oct 8, 2024.