Topic > Global Affairs - 1934

1. Introduction: In the current years, global business has undergone many changes significantly. The manufacturing of smart devices such as iPhone or iPad has changed the way people interact. At the same time, the creation of “cleantech”, short for Clean Technology (Adriaen, 2010), also contributes to establishing new human behavior and alleviating the rate of greenhouse gas emissions. According to statistics from the environmental research web organization, 36% of total carbon dioxide comes from manufacturing, 40% from buildings and appliances, and 24% from transportation. Therefore, clean technology innovation plays a vital role in addressing these issues. “Clean technologies enable the transformation to a low-carbon, resource-efficient economy that could be the next industrial revolution” (Ernst & Young, 2011). As Burtis et al (2004) define clean technology as a specific sector that uses new and innovative technology to create a product and services that compete favorably in price and performance while reducing pollution, waste and use of natural resources. Furthermore, the business world is increasingly dependent on oil-based energy, so finding replacement energy and reducing pollution is a necessity. This report aims to test the question of whether clean technologies will become the alternative energy for business in the future. There are three main sections in this report. The first is the general introduction of the report, some background information and a definition of clean technology. Secondly, it will reveal how the cleantech revolution affects the business world by analyzing relevant aspects. The conclusion will summarize the benefits of clean technology and identify issues to be managed.2. These items refer to... mid-card... 21st century. “Cleantech addresses the roots of ecological problems with new science, emphasizing natural approaches such as biomimicry and biology” (cleantech.com website). In the near future, pure technology will not be a mystery machine for customers. Therefore, its potential market will increase significantly, which is a way to mitigate risk for investors and business owners as well. However, the cost of switching from traditional to new technology will play a crucial role. These old machines will be released and become waste to the environment. Furthermore, competition within these companies in the energy sector will stimulate the reduction in the price of petroleum products and customers will return to using them again. Therefore, to resolve these issues, government interference is needed to support business operations and also consumer rights.