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Vol. 3 Issue 1
International Society for Small and Medium Enterprises (ISSME)

PO Box 4354, Kalkaji HPO, New Delhi 110019, India
Tel.: +91-11-29993844; Fax: +91-11-29993845
Email: info@issme.org; Website: www.issme.org
International Journal for Small and Medium Enterprises (IJSME)

ISSN: 22783164
Frequency: Quarterly
Language: English
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Email: mail@ijsme.com
Website: http://www.ijsme.com
DISCLAIMER
The information and views expressed in International Journal for Small and Medium Enterprises (IJSME)
are those of the individual contributors, editors, or advertisers; they do not necessarily represent the
views of the other editors or the publisher. Unless specified otherwise, the authors and publisher
disclaim any responsibility or liability for such material.
Copyright ISSME 2014
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None of the material provided in International Journal for Small and Medium Enterprises (IJSME) may
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Section; International Society for Small and Medium Enterprises; Fax: +91-11-29993845; Email:
mail@ijsme.com
International Journal for Small and Medium Enterprises (IJSME)

ISSN: 22783164
Website: http://www.ijsme.com
Editor in Chief
Mr. A C Jose, President, ISSME
Editor
Dr. P. Koshy, Director, ISSME
Editorial Advisory Board
Mr. V N Prasad, Principal Advisor, ISSME, India
Mr. P K Padhy, Principal Advisor, ISSME, India
Managing Editor, CEO & Publisher
Mr. Sunil D Sharma, Secretary General, ISSME, India
Editorial & Research Director
Mr. Siddhartha Mishra, Chief Operating Officer, ISSME
Editorial Board Members
Mr. Surendra Bir Malakar, Nepal
Dr. A K Goyal, India
Dr. Mosaddak Ahmed Chowdhury, Bangladesh
Subscription
The International Journal for Small and Medium Enterprises (IJSME) is published quarterly (January,
April, July and October) in a year. It may be subscribed by a price of US$ 455 (shipping extra). The
subscription is for at least one year and is automatically extended unless otherwise stated by the
subscriber till the end of the year. Single copies may be purchased for US$ 125 (shipping extra).
Orders may be placed at Publication Section, International Society for Small and Medium Enterprises,
PO Box 4354, Kalkaji HPO, New Delhi 110019, India; Tel.: +91-11-29993844; Fax: +91-11-29993845;
Mobile: +91-8587000190
Publishing House
International Society for Small and Medium Enterprises (ISSME)
www.issme.org
Composition and Layout
Publication Section, International Society for Small and Medium Enterprises, PO Box 4354, Kalkaji HPO,
New Delhi 110019, India.
Printed at:
Print Process, 225, DSIDC Complex, Okhla Phase I, New Delhi-110020
ISSN: 22783164
International Journal for Small and Medium Enterprises (IJSME) is an international journal with a focus
on Small and Medium Enterprises (SMEs) and, hence, is dedicated to the formulation, development,
implementation and evaluation of pro-SME policy with a view to support the SME owners and
managers in their business operations. IJSME provides a place for quality papers including theoretical as
well as empirical research articles, issues pertaining to policies and practice within the fields of small
business and entrepreneurship, evidence-based case studies, best practices, policy briefs, business
models, entrepreneurial ideas, reports, statistical overviews and strategies for enhancing the
competitiveness and sustainable growth of SMEs. Apart from contributing to the academic literature,
IJSME aims at providing conceptual and practical insights and generating innovative ideas for SME
promotion at all levels. The articles, case studies and other write-ups that IJSME carries in its quarterly
issue are immensely important to all the SME stake holders who seek to understand small businesses,
entrepreneurial processes and outcomes.
Objectives
The IJSME aims at building an effective international platform for SME practitioners/ experts/
professionals, academics and policy makers to contribute their unbiased and practical research works in
the field of SME and entrepreneurship development in the larger interest of SMEs and the stakeholders
engaged in their promotion. Besides, it provides ample opportunity for the authors to learn from each
others work through radical thinking. IJSME is an excellent conduit whereby SME and entrepreneurship
development research can shape itself and outcomes & inferences can be shared across institutions,
governments, researchers and students, as well as industries. The objectives of IJSME are as follows:
Advanced research to keep you ahead with competitive edge best practice in SMEs.
Practical guidance on ways to achieve effectiveness and efficiency in SME management and
development.
Comprehensive analysis and elucidation to further our understanding about the core issues and
fundamental challenges inhibiting the growth of SMEs.
Cross-border coverage providing enough room to share information and knowledge and insight on a
worldwide scale.
Play a bridges role between SME and enterprise development theory and practice.
Assist and inform those responsible for the management of SMEs.
Highlight case studies on small business experiences including success stories and practical advice.
Vol. 3 / Issue 1
Jan-March, 2014
ISSN: 22783164
CONTENTS
Pg.
9
Editorial
The Challenge of Green Entrepreneurship in Greece
Authors:
Maria Markatou; and
Yannis Stournaras
12
ABSTRACT: This paper is a first attempt to link aspects of green policy to green results for the case of Greece by
studying and examining the response of Greek firms to the national call for boosting green entrepreneurship. The
analysis is based on information on those Greek firms for which government funding has been approved.
Government funding in the form of national subsidies has always been a major part of the Greek economic policy
and an important instrument for entrepreneurship, employment growth and regional development. Especially for
boosting green entrepreneurship, the Greek government lunched three programmes, the Green Firm program,
the Green infrastructure and the Relocation program. Four years after the official national call for the first two
programs, the majority of the firms investments plans have been realized or are at the stage of completion, and
either recorded as new firm establishments or being integrated into the firms production processes.
KEYWORDS: Government support, green entrepreneurship, green policy, subsidies
Solidarity-based Network for Sustainable Recyclable Waste

Management in Lebanon: A Case Study
Authors:
Salameh Dominique;
Dersarkissian Christapor; and
Maamari Olivia
ABSTRACT: In response to the pollution caused by waste, sustainable waste management practices based on
sorting and recycling are currently tested and promoted worldwide. Constituting a major source of pollution
today, recyclable wastes present tremendous social, environmental and economic opportunities if well managed.
In response to this situation, Arcenciel, a Lebanese nonprofit NGO has been conducting a pilot initiative to raise
public awareness regarding sustainable development issue and to encourage waste sorting and recycling, in order
to finance social services. This article describes and discusses the key element of success of this social and green
entrepreneurship project and how these elements constitute a basis for the implementation of such a project at an
industrial scale. Tested in more than 200 organisations belonging to various sectors, this solution proved to be
feasible. Whereas the environmental cause was not sufficient to motivate behavior change in Lebanon, the
motivation to solidarity is proving to be an efficient force driver. Currently, each month, 30 tons of waste are
collected by Arcenciel, prepared to be recycled in two regional centers, and redistributed to local recycling plants.
Thus, 30 social services are financed monthly thanks to waste recycling. Besides, 20 green jobs, notably for persons
in difficulty, have been created. The holistic sustainable development approach, associating social causes to
environment preservation, makes this solution very innovative. The simplicity of this low-cost solution allows it to
be easily replicated in organisations or countries seeking for sustainable waste management solutions.
KEYWORDS: Waste, recycling, green economy, sustainable development, environment
26
Sustainable Development through Finding Useful

Application of Bulk Industrial Waste: The Case of the Rice
Husk Ash
33
Author:
K. R. Chari
ABSTRACT: A change in our approach is needed in the way we look at resources. A shift in thought process and the
way in which we look at waste, especially while dealing with any bulk industrial waste. In the ecological system,
every waste of an animal is a food resource for some other animals or insects. The same approach, when adopted
in case of the industrial wastes, the authors experience and experiments prove that waste of an industry can be a
very good input source for some other industry. Rice milling industry generates a lot of rice husk during milling of
paddy which comes from the fields. This rice husk is mostly used as a fuel in the boilers for processing of paddy.
The early known applications of rice husk as fuel have been in the gasifiers to produce producer gas for various
thermal applications. The chemical analysis of the rice husk ash brought to light that it in fact is a very good source
of amorphous reactive silica (SiO2) which is formed as white crystalline lumps after complete combustion of the
rice husk.
KEYWORDS: Industrial Waste; Rice Mills; Rice Husk Ash; Green Concrete; Green Sand; Value Added Products from
Waste
Indigenous Resources, Ethnicity and Enterprises: A

Comprehensive Study of Bamboo as a Promising Resource
for Enterprising in Assam
46
Author:
Nabajyoti Deka
ABSTRACT: Indigenous Resources have been a major source for fulfilment of daily needs for mankind. There are
certain resources which not only satisfy the local demand but possess the potential to be accepted universally.
Bamboo plant is one such green material that is abundantly available in many geographical regions including
Assam, North East India. This paper is a general review to appreciate the role of bamboo as an eco-friendly
resource material for livelihood of people residing in the state and its potential at the global level. It includes study
of the association between various ethnic groups in the region with bamboo, and how bamboo based products
have gradually evolved as an industry. Overall, the purpose is to find the marketability of bamboo made items in
the international market and thereby create value for the supply chain. The study also includes description of
diverse usage of bamboo and bamboo made products amongst various communities in the state.
KEYWORDS: Indigenous resource, bamboo, eco-friendly, livelihood, bamboo items, industry, enterprises, market,
sustainable development
Global Energizing Models of the Eco-Entrepreneurship: A

Success Saga
54
Author:
G. V. Satya Sekhar
ABSTRACT: This paper discusses about various financing issues relating to eco-entrepreneurs, which a convergent
model of social entrepreneurs and green entrepreneurs. The willingness to engage with the social finance sector
will grow as the social enterprises themselves offer nearer market rate returns. Without adequate investment,
there is a risk that the high expectations of the social enterprise sector to help meet societys needs will not
materialise. To date, despite interest, there appears to be little engagement from the City and institutional
investors to provide the financial backing required and very little actual activity. The social finance sector is selfcontained.
KEYWORDS: Social Entrepreneurship, Eco-Entrepreneur And Financing Models, Green Funds, Green Investments
The Gold from Green Building
61
Author:
Jane Henley
ABSTRACT: Around the world, sustainability is emerging as the 21st centurys revolution joining the likes of the
industrial and information technology revolutions of the past two centuries as organisations begin to understand
its potential as a long-term business opportunity. Large corporations have been quick to recognise that simply
operating from green buildings can slash energy consumption and costs by as much as two thirds. But thats just
part of the story. Smart organisations are embracing sustainability to deliver on a range of other priorities from
attracting and retaining staff and boosting productivity, to demonstrating corporate social responsibility and
building brand equity. Small-to-medium organisations (SMEs), however, have been slower off the mark.
KEYWORDS: Green Economy; Green Building; Small and Medium Enterprises
ISSN 2278 3164
Innovative Eco-Friendly Practices
63
Author:
Sudhir Soundalgekar
ABSTRACT: Indian Retail Sector is being the second largest employer contributing GDP after agriculture where
Organised Retailing is fastest growing sectors to reach USD 200 billion by 2020. Here the challenge remains same
for all i.e. ever rising power tariffs and power Scarcity; hence we see a huge opportunity to save Power now and
Reduce CO2 footprint by all retailers. Shoppers Stop with a Leadership in Sustainable initiatives in Retail will
definitely encourage other retailers through Retail Association of India having 900 Retail Companies to strive for
Eco Friendly Practices as a Discipline
KEYWORDS: Retail Sector; Energy Saving; Green Practices; Innovative Green Practices
Role and Relevance of Business Incubators in ICT led Global

Educational System: Case for Eco-Enterprise Village
65
Author:
P. Koshy
ABSTRACT: Business Incubators are businesses aiming at nurturing and establishing other businesses. They are
considered to be an excellent tool for Small and Micro Enterprises (SMEs) development. Targeted assistance at
small entrepreneurs & start-up businesses- help them grow and graduate to mature enterprises. It is important to
impart real training in starting, managing, making profit and pursuing the growth of enterprises & ventures that a
youth entrepreneur could launch. In the knowledge economy, BIs can be real learning centres. Also, technological
and academic oriented knowledge & literacy is not the only skill required for attaining success, set-up a business or
getting a well-paying job in the new knowledge based global economy. But what is required are a set of skills
called 21st century skills, which can be well delivered through BIs, when they are turned as educational centres.
The paper also presents a BI model, which has an objective of building businesses with a strategic orientation
towards environment and sustainable development. The BI design presented is called as Eco-Enterprise Village.
KEYWORDS: Business Incubators; Micro, Small and Medium Enterprises; Information & Communication
Technology; Education and Training; Eco Enterprise Incubator
Eco-Spiritual Foundations of Green Enterprises
78
Author:
Acharya Sachidananda Bharathi
ABSTRACT: Green enterprises are those enterprises that will help us build a green economy. Economy could be
seen as the physical expression of an authentic and practical spirituality. The concepts of Green Economy,
Sustainable Development and Eco-Spirituality have become the triangular foundation of our economic thought
and discourse for sustainable development and global peace. Eco-friendly, people-centred and need-based
economic enterprises were what Gandhiji had advocated for sustainable development of India and for a culture of
abiding peace, prosperity and happiness on earth. This was the core concept in his ideology of Sarvodaya. Only
through such a green economic order can we uphold and promote the interdependent organic nature of creation
and the unity of all life.
KEYWORDS: Green Enterprises; Green Economy; Gandhian thought; Sustainable Development
Global Political Economy and Green and EcoEntrepreneurship
81
Author:
C. K. Vishwanath
ABSTRACT: Green economy is being defined as a local or neighbourhood based climate friendly and low input
economy. However, with the time a paradigm shift in the discourse on green economy could be seen. Today, focus
is more on developing environmental services and a market for environmental services. Various activities with the
potential for ''payments for ecosystem services" have emerged. Promotion of mono culture tree plantations, trade
in carbon credits and the speculation markets for bio-diversity and forests. Ultimate impact would be the
destruction of a localized land based agrarian communities and their livelihood enterprises, which are mainly
MSMEs. Green economy focus needs to be reprioritised and replaced with the positive rights of agrarian
communities and MSMEs, which are very much based upon entrepreneurial ventures in the neighbourhood and
local economies.
KEYWORDS: Green Economy; Carbon Credits; Environmental Services; Agrarian Communities and MSMEs
ISSN 2278 3164
Solar Energy for Air-conditioning Systems: A Case of VSM

Solar Pvt. Ltd
85
Author:
Srinivasan Sampath
ABSTRACT: Solar is the future. The solar air conditioning results in saving electricity that could be twice as
effective production, due to the transmission and other wastages involved. It is necessary to give an impetus to
this energy saving process by policies to provide adequate incentives to initially offset the cost of setting up these
solar air conditioning systems. With the advent of technology, the efficiency of solar collectors and hence areas
required have shrunk; the costs are rapidly coming down and the Government is offering incentives to propagate
solarisation due to the alarming power shortages, and the increasing awareness among public have made solar a
potential business sector that will keep growing.
KEYWORDS: Solar energy, power, solar air-conditioning, renewable energy, alternate technology
Wind-Hydro Hybrid Power Plants to Overcome the

Demerits of Standalone Power Plants
89
Author:
Anand Maralad
ABSTRACT: Wind and Hydro, both renewable forms of energy, economical and best alternatives to thermal (coal
based) energy to avoid harm to nature. But they too come with their baggage of demerits. Wind does not blow
when there is a peak demand for energy (i.e. during afternoons) but is at full action in the night generating
electricity when we need the least. There are no viable ways to store energy in the scale of mega-watts either. On
the other hand, hydro, the cheapest source of electrical energy production, has geographical limitations such as
elevations which are not significant enough or the insufficient flow rate to set-up a hydro power plant.
KEYWORDS: Wind, Hydro, energy recovery, utilization, scalability
Clean Energy Achievements and Energy Security Concerns

for India
92
Author:
K K Roy Chowdhury
ABSTRACT: India, despite its status as the second fastest growing economy, is still home to around 500 - 600
million people who are energy poor. Power sector in India should grow at a faster pace. And as of now, this is
simply not possible unless India immediately start implementing a comprehensive energy security solution for the
country with a long-term perspective.
KEYWORDS: Energy Security; Alternative Energy Sources; Green Economy
95
Understanding Green Economy and Green Growth: Some

Definitions
Book Reviews
Siddhartha Mishra
97
Select International Declarations Green Economy, Green

Growth and Green Enterprises
Siddhartha Mishra
109
GREEN EVENTS: Conferences, Seminars & Training

Programmes
Siddhartha Mishra
Sunil D Sharma
126
ISSN 2278 3164
Editorial
International Journal for Small and Medium Enterprises (IJSME) is a multidisciplinary international
journal with a focus on Small and Medium Enterprises (SMEs). Today, at a time when concerns about
unemployment, poverty and environment are greater than ever, a better knowledge base is important
to address these menacing challenges with a focus on micro, small and medium enterprises. There is
indeed a consensus among experts, policy makers and development thinkers about the crucial role that
the SMEs can play in employment generation and poverty alleviation. To generate a meaningful
discourse in the above context at policy, academic and practitioner fronts that IJSME has emerged. And
at the background, International Society for SMEs (ISSME) gives leadership and support for this
initiative.
As an international multidisciplinary journal for SMEs, IJSME is open to articles that meet
scholarly standards. At the same time IJSME gives much focus on ensuring that the papers and articles
that it publishes are of extremely relevant to SME stakeholders such as SME practitioners,
entrepreneurs, policy makers, academicians, researchers and students in different streams. There is an
attempt to publish case studies, experiences of entrepreneurs & SME managers and those at the policy
circle. Of course theoretical studies and empirical research studies by scholars would find a place as
usual in the journal. As a journal brought by an industry association of global reach, with a number of
SME leaders, particularly practitioners and entrepreneurs from across all the continents participating in
the editorial and publishing process itself make IJSME a unique academic endeavour.
IJSME would publish articles, issues pertaining to policies and practices within the fields of small
business and entrepreneurship, evidence-based case studies, best practice, policy briefs, business
models, entrepreneurial ideas, reports, statistical overviews and strategies for enhancing the
competitiveness and sustainable growth of SMEs. Apart from contributing to the academic literature,
IJSME aims at providing conceptual and practical insights and generating innovative ideas for SME
promotion at all levels. The articles, case studies and other write-ups that IJSME carries in its quarterly
issues are immensely important to all the SME stake holders who seek to understand small businesses,
entrepreneurial processes and outcomes.
The pages of the journal are also open to all relevant disciplines economics, management,
sociology, finance, political economy and articles taking an interdisciplinary perspective are
particularly welcome. The intention is to attract contributions from all parts of the world.
In addition to the research papers and articles, there will be a separate section that would
report about SME focused books, publications and events from around the world. There will be a
section on briefings and notes on new policy initiatives, best practices and innovative technology and
product developments from different parts of the world from all sectors.
Green Economy and Green Enterprises
This issue of IJSME has a focus on Green Economy and Green Enterprises. SMEs are generally known to
be highly labour intensive. And there is a considerably large section of SME population engaged in green
ISSN 2278 3164
production and may get qualified to be termed as green enterprises. However, there is a large section
still need to migrate to the status of green enterprises. Unlike large enterprises, SMEs lack awareness
and resources to migrate to a green technology and green enterprise era.
In this issue of IJSME, a number of articles discuss various concerns and challenges in this
regard. There are policy level studies and papers talking about initiatives and follow-up reports with
regard to governments green economy policies and interventions. Current issue carries an interesting
paper by MARIA Markatou and Yannis Stournaras titled The Challenge of Green Entrepreneurship in
Greece which looks into aspects of green policy, outcomes and results in the case of Greece by
examining the response of Greek firms to the government level initiative for boosting green
entrepreneurship. This study is very relevant for policy makers in other countries as well as it analyses
the impact of policy level intervention concerning green economy. The analysis is based on information
regarding those Greek firms for which government funding has been approved. In order to boost green
entrepreneurship, the Greek government launched three programmes, the Green Firm, the Green
infrastructure and the Relocation. How meaningful were these policy interventions? Similar studies,
using same methodology, in other countries may be carried out.
Waste management is another area that the journal covers in this issue. A case study from
Lebanon is indeed a very contextual experiment that could be replicated elsewhere and has got
relevance globally. In this particular Lebanese experiment, an NGO called Arcenciel initiated a waste
management project, adding useful social components, successfully! Similarly, KR Chari, a senior
industrial scientist talks about waste management and the need to change approach towards waste, on
the basis of his successful experimental research. He is presenting a successful experiment that he
conducted in the rice milling industry. He says that a usually wasted by-product from rice mills, rice
husk, has got industrial applications. It has emerged that Rice Husk could be an alternative building
material, one among many probable industrial application that Prof. Chari cites for rice husk ash. He
says, Rice milling industry generates a lot of rice husk during milling of paddy which comes from the
fields. This rice husk is mostly used as a fuel in the boilers for processing of paddy. The early known
applications of rice husk as fuel have been in the gasifiers to produce producer gas for various thermal
applications. The chemical analysis of the rice husk ash brought to light that it in fact is a very good
source of amorphous reactive silica (SiO2) which is formed as white crystalline lumps after complete
combustion of the rice husk. The point is that there is nothing called waste but a misplaced resource!
There are many other case studies, commentaries and articles that critically look at green
economy initiatives by global elites working with a focus on exploring commercial potential for ecoservices. Swami Sachidananda Bharatis interesting article stands apart as it talks about eco-spiritual
foundations of green economy. An environmental activist C K Vishwanath critically evaluates the global
political economy of green. He emphasizes the importance of green living and green as part of day to
day life for a sustainable economy. Potential of solar energy for Air-conditioning is what Srinivasan
Sampath, an entrepreneur from Bangalore, explores in his article on the basis of his personal experience
as a solar entrepreneur. There are few other interesting articles as well related to green practices
adopted by a retail chain, which is replicable elsewhere also. And the need for SMEs adopting green
building codes is what Jane Henley talks about in her article titled the gold from green building. There is
also a paper on Eco-Enterprise Village, a typical green business incubator.
In addition to that a number of events and brief reviews with a focus on green economy and
green enterprises could be found in this inaugural issue of IJSME. Also, it is interesting to note that
IJSME carries a section on definitions of green economy, green growth and green enterprises. And
moreover, it provides a list of select international declarations on green economy.
ISSN 2278 3164
10
We are very sure, IJSME JanuaryMarch 2014 issue would be a useful publication for those who
are concerned with SMEs as well as green economy and green enterprises.
We hope you will enjoy IJSME and look forward to receiving your comments and views.
Editors
Date: January, 2014
ISSN 2278 3164
11
International Journal for Small and Medium Enterprises, Vol. 3, Issue 1: Jan-March, 2014; pp. 12-25
2014 ISSME. All rights reserved.
ISSN 2278-3164

MARIA MARKATOU and YANNIS STOURNARAS
ABSTRACT: This paper is a first attempt to link aspects of green policy to green results for the case of
Greece by studying and examining the response of Greek firms to the national call for boosting green
entrepreneurship. The analysis is based on information on those Greek firms for which government
funding has been approved. Government funding in the form of national subsidies has always been a
major part of the Greek economic policy and an important instrument for entrepreneurship,
employment growth and regional development. Especially for boosting green entrepreneurship, the
Greek government lunched three programmes, the Green Firm program, the Green infrastructure and
the Relocation program. Four years after the official national call for the first two programs, the
majority of the firms investments plans have been realized or are at the stage of completion, and either
recorded as new firm establishments or being integrated into the firms production processes.
KEYWORDS: Government support, green entrepreneurship, green policy, subsidies
1.
Introduction
The concept of green economy is rather a recent one. It is related to the improved human well-being
and social equity, while significantly reducing environmental risks and ecological scarcities. Green
economy is an economy, which relies on an economic development model, which is based on
sustainable development and on a knowledge background, which relies on ecological economics. A
feature distinguishing it from prior economic regimes is the direct valuation of natural capital and
ecological services as having economic value and a full cost accounting regime in which costs
externalized onto society via ecosystems are reliably traced back to, and accounted for as liabilities of,
the entity that does the harm or neglects an asset (Runnalls, 2011; U.N., 2011).
Green growth, as agreed at the fifth Ministerial Conference on Environment and Development
in Asia and the Pacific, is a strategy for achieving sustainable development. It is focused on overhauling
the economy in a way that synergizes economic growth and environmental protection, building a green
economy in which investments in resource savings as well as sustainable management of natural capital
are drivers of growth. An economy, which is in closer alignment with the sustainable development
objectives, provides opportunities for using financial resources better to meet development needs and
reducing the vulnerability of socioeconomic systems to environmental change and resource constraints.
In this context, green growth strategies can help economies and societies become more resilient as they
work to meet demands for food production, transport, housing, energy and water. Strategies can help
Maria Markatou is an economist and land- planner & regional engineer. She is a free lancer researcher in the Research Unit of
Innovation and Entrepreneurship of the University of Thessaly (Greece) and a lecturer at the Technological Educational Institute
of Larissa (Greece). She holds a PhD in Economics from the National and Kapodistrian University of Athens and two master
degrees, the first in Science and Technology Policy (SPRU- United Kingdom) and the second in Production Management and
Engineering (University of Thessaly- Greece). Email: markatou@prd.uth.gr
Yannis (Ioannis) Stournaras is professor of Economics at the National and Kapodistrian University of Athens in Greece. He
obtained his post-graduate degrees (MPhil 1980, DPhil 1982) from Oxford University. He worked as a Special Advisor to the
Ministry of Economy and Finance (1986-1989) and to the Bank of Greece (1989-1994). During that period he represented the
Bank of Greece as an alternate member in the Meetings of the Governors of European Unions Central Banks. From September
2009 to June 2012 he served as Director General of the Foundation for Economic and Industrial Research (IOBE). He is the
current Minister of Finance in Greece. Email: ystournaras@iobe.gr
International Journal for Small and Medium Enterprises IJSME
Vol. 3 / Issue 1: Jan-March, 2014
mitigate the impacts of adverse shocks by reducing the intensity of resource consumption and
environmental impacts, while alleviating pressure on commodity prices. Green growth also offers
competitive advantages to those countries that commit to policy innovations. The global market for
green goods and services is vast and growing fast, offering countries the dual benefit of prosperity and
job creation (OECD, 2011a; World Bank, 2012).
The green economy is trying to reconcile two fundamental and conflicting needs, namely those
of economic development and environmental protection. In reality, however, competitiveness and
environment are complementary concepts and not conflicting, as environmental protection is an
essential condition for achieving strong competitiveness and, thus, sustainable economic development.
In this context, green entrepreneurship is the economic activity which embraces or poses the protection
of the environment and, more generally, of the nature at the center of its strategy. Green
entrepreneurship asks from firms to be positive on the issue of environmental protection through their
products and services as well as their production processes. The concept of green entrepreneurship
identifies that the entrepreneurial milieu/ environment is part of the broader physical environment.
Therefore, all natural resources, which are used in the real economy, come from the earth and/or
land, the air and the sea. Thus, the global reduction of the availability of the natural resources is a main
limitation in the development of economic activities of this kind. Green entrepreneurship is an
emerging entrepreneurship, which is closely related to the emerging green demand, to a new or revised
entrepreneurial vision, as well as to the production of innovation in fields, which havent been
developed so far (E.C., 2003; OECD, 2011b).
This paper is a first attempt to link aspects of green policy to green results for the case of
Greece by studying and examining the response of Greek firms to the national call for boosting green
entrepreneurship. The paper is structured as follows: Section one is the introductory part of the paper.
Section two presents the theoretical and empirical framework, in which the interrelated concepts of
competitiveness- economic development, entrepreneurship and environmental protection are
discussed. Section three describes the data that has been used and the methodology that has been
followed for this study. The data is based on raw data downloaded by the official cite of the Ministry of
Development. Section four describes the research results, which are presented at two levels: A
summary table on the main features and the performance of each programme under consideration is
presented at the first level. The basic firm characteristics in relation to their sectoral activities, products,
employment and other information are described at the second level. Finally, section five presents the
main conclusions of the paper.
2.
Theoretical and Empirical Evidence
Green entrepreneurship contributes into the integration of environmental cost in both the economy
and the market, while highlighting the need for the implementation of a green Keynesianism alongside
the global environmental governance. The fundamental characteristics of the green entrepreneurship
are the following: First, the symbiosis with the special characteristics of the local economy and the
ability of highlighting and enhancing those characteristics. These fundamental characteristics must be
present in every case while being the base underlying all the rest. Obviously, the main characteristics
and the basic priorities of the green entrepreneurship depend on the scale of the firm project under
consideration. The two above characteristics, naturally, refer to the small scale green entrepreneurship.
In large- scale cases of green entrepreneurship, the above factors should be taken into consideration,
with emphasis, however, at the high underlying necessity of these firms (wind parks, recycling
industries). On the contrary, the emphasis in supra-national activities should be focused on their
contribution in the environmental adjustment of the economy, with the smallest local environmental
impacts. For example, the issue of clean energy concerns the forests, the biodiversity, and the quality of
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MARKATOU AND STOURNARAS
life and, thus, the product of the sustainable production of energy can be dissipated in every location
(Bennett, 1991; Farinelli et al., 2011).
Obviously, the entrepreneur is the key for the green entrepreneurship. The international
bibliography argues that a green entrepreneur can be either making its business green or simply
entering a green industry or expanding to a green activity. In other words, green entrepreneurship
could be defined in terms of the technology used for production in any sector of the economy, or in
terms of the sectors, that the firms are active in, in which case the interest is focused on those parts of
the economy producing specific types of output. The former is sometimes referred to as a process
approach in defining green firm or activity, while the latter as an output approach (OECD, 2011c). The
above isnt the only definition for the green entrepreneur. In the case of incorporating ethical, social, or
environmental motivations to the green entrepreneurship, then there could be different versions and
multiple ways of defining the green entrepreneur. The following examples are some of the most
representative definitions: Anderson (1998) argues that both entrepreneurship and environmentalism
are based on a perception of value. The attitudes which inform environmental concern create areas of
value that can be exploited entrepreneurially. In this context, environmental entrepreneurs not only
recognise opportunity, but construct real organisations to capture and fix change in society. Isaak
(2005) introduces the term ecopreneur, referring to a person who seeks to transform a sector of the
economy towards sustainability by starting business in that sector with a green design, with green
processes and with the life-long commitment to sustainability in everything that is said and done.
Volery (2002) splits the term ecopreneur into its two types, the first being defined as environmentconscious entrepreneur, who is an individual who develop any kind of innovation (product, service,
process) that either reduces resource use and impacts or improves cost efficiencies while moving
towards a zero waste target. The second type, called green entrepreneur, is the individual who is both
aware of environmental issues and whose business venture is in the environmental marketplace. Such
an entrepreneur pursues s environmental-centred opportunities which show good profit prospects.
This paper studies the issue of green entrepreneurship by examining the response of Greek
firms to the national call for boosting green entrepreneurship, as this call was expressed by the
implementation of two national programs, which aimed at assisting to firms through funding them in
their effort towards green growth and entrepreneurship. Government funding has always been a
significant mechanism that both potential and existing entrepreneurs may use in order to start,
differentiate and expand- modernize their economic activities. Government funding may take many
forms and grants-subsidies are one of them. Grants-subsidies, generally defined as incentives, have
been a source of controversy among economists for decades (see for a review the work of Baum, 1987):
The group of economists being positive with grants- subsidies argues that there are many cases where
subsidies increased both local and national economic welfare, leading therefore to economic growth.
On the contrary, the group of negatives argues that subsidies are unlikely to increase local economic
welfare, supporting the view that subsidies are likely to decrease national economic welfare. In this
context, the no need of such financial assistance schemes is stated in the research of Wren (1987), who
studying and examining the effect of local authority financial assistance on the operation and
employment of establishments over the period 1980-84 (using data collected as part of a survey of 201
establishments located in the North-East of England) he concluded that local authority assisted projects
performed well, but nearly two-thirds of these projects would have gone ahead without being assisted.
Summarizing, being for or against the provision of grants-subsidies, it is generally accepted that the
provision of financial assistance to a part or the whole economy is a growing and important part of the
economic development policies of many countries, both developed and developing.
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Most countries have their own scheme of national funding programs and/ or subsidies or other
kinds of aid1. For example, Britain has a wide range of grants and subsidised loans available to its firms.
Finance is available to help and support business expansion, to provide funding for research and
development, to support training initiatives, to help acquire new premises or refurbish existing
buildings or to support international expansion. Whilst the provision of actual cash is usually the most
important issue, grant aid help can come in many different forms. For example, certain grant agencies
provide assistance in finding investors; others help them in generating new export leads or introducing
experts to accelerate the development of new product ideas and strategies. The availability of grants
and subsidies often depends on which sector a business is in, where it is located, how well the
application is made and on time.
The key factor in winning grants and subsidies is whether the funding results in the creation of
jobs, especially in regional or local areas that particularly need them. Canada uses a mixed scheme of
loans (low-interest and no-interest loans, government guaranteed loans), grants and subsidies (grants
and subsidies- one-time and renewable, conditionally repayable contribution, equity financing), tax
breaks (tax refunds or tax credits) and business advantages (government insurance against business
risks, government relocation incentives, government information and services, access to resources) to
help firms exist, survive and grow. France has over 250 different grants and subsidies (often referred to
as incentives, although strictly these are financial) available to individuals for starting up a personal
enterprise or small business, particularly in rural areas. These include EU subsidies, central government
grants, regional development grants, redeployment grants, and grants from departments and local
communities. These grants may take the form of assistance to buy buildings and equipment (or the
provision of low-cost business premises), subsidies for job creation, or tax incentives. Most government
subsidies are intended to provide support for small businesses already up and running, but there are
occasionally specific subsidies available for new businesses, particularly for individuals who have been
unemployed for a long period (OECD, 2011d).
3.
Methodology and Data
This study examines the response of Greek firms to the national call for boosting green
entrepreneurship in an attempt to provide an overview of that response and a first kind of evaluation
after the implementation of two programs for green growth and entrepreneurship in Greece. The Greek
government launched three programs for this purpose: the Green Firm, the Green Infrastructure, and
the Relocation program. All of them are financed by the Operational Program for Competitiveness and
Entrepreneurship (EPAE in Greek) and the Regional Operational Programs (PEP in Greek) for the five
Greek regions under transition. The total budget for all three programs amounted for 70,000,000 euro,
from 30,000,000 euro for the first two programs and 10,000,000 euro for the third. There was a delay in
the implementation of the third program (program: relocation), which is now in progress, being in the
phase of the evaluation of the proposals. Therefore, this paper focuses on the first two programs,
aiming at providing an overview as well as a first kind evaluation on them.
The response of Greek firms is measured by their participation in the above two programs and
this participation implies and prerequisites the following stages: The first stage is the stage of the
submission of a proposal for a specific investment plan; The second stage includes the evaluation of the
proposal based on specific criteria by a committee of experts; The third stage is the stage of the
inclusion of the firm in the program and its public support in phases in the form of subsidy based on the
submitted investment plan. In this context, the data for this study is based on the third step of the
above process, when a firm is included in the program and a government document for each firm is
prepared and then becomes public in the web through the program transparency. However, the
1
This paragraph is based on internet research on the issue of national funding programs and/ or subsidies for different
countries.
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problem with these government documents is that they only contain the name of the submitter and
this submitter could be the name of an individual or the name of the firm, in which this individual is the
general manager. Generally each government document contains the following information: The name
of the submitter, the total budget of the investment plan and the total amount of public support which
depends on several criteria, such as the region of the firm location, the main activity under
consideration etc.
Methodologically, the analysis relies on collecting, elaborating and interpreting questionnaire
data, which was sent to each firm and based on the following steps: Step one, all approved investment
proposals in paper sheets were collected after being published in the web. Step two is focused on the
construction of the first part of the database, which contains the name of the submitter (individual
person with a firm or the firm name), the total budget of the proposed investment plan and the amount
of public support. Step three is the step of the identification of firms based on their unique tax number,
followed by the sending of a structured questionnaire to all firms under examination. The forth step is
the stage of the interpretation of all structured questionnaires and the construction of the second part
of the database, which includes firm data and information on the main and the secondary firm
activities, the age of the firm (based on the year of establishment), the employment, financial
information (capital, total assets, turnover, profits) as well as information taken from the firms
balanced sheets, the exports and the countries of their destination and the location of firms. Finally, the
fifth step is the step of the elaboration of data of the second part of the database for the above fields
and according to the following criteria:
Main and the secondary firm activities: The firm activities are interpreted based on the detailed
structure of NACE Rev. 2 at 4 and 6 digit level.
Age of the firm- based on the year of establishment (5 classes- time periods):
before 1974, after 1974- before EMU, after EMU till the Olympic games, after the Olympic
games- before the memorandum and after the memorandum till now.
Employment- based on the total number of employees (4 classes): micro, small, medium (50- 100)
and medium (100- 250). This grouping is based on the definition of SMEs according to the EU law
and particularly the EU recommendation 2003/361, which states that the main factors determining
whether a firm is an SME are the number of employees (micro: <10, small: 10- 50, medium sized:
51-250 ), the turnover (micro: 2m. euro, small: 10 m. euro, medium sized: 50 m. euro) or the
balance sheet total (micro: 2m. euro, small: 10 m. euro, medium sized: 43 m. euro).
Exports and countries of destination (5 classes for the percentage of exports and 10 regions of
destination): 0-5, 5-10, 10-20, 20-50, >50. The classes for the parameter regions of
destination are determined by geographical criteria (e.g. America, Asia, Africa, Europe, and
Oceania) and specific cases of interest (e.g. Balkan countries, European Union, Middle East,
Northern America, and Southern Asia).
One last point should be clarified: The elaboration of data of the second part of the database is the
result of and relies on the replies of the managers/ firm owners on the structured questionnaires of
the firms under examination. Their overview showed that the managers/ firm owners were more
willing to answer to questions on the firms activities and their products than for exports and their
firms financial situation.
4.
Results
4.1
The green entrepreneurship in practice in Greece: The green firm and the green infrastructure
programs
4.1.1 The program- Green Firm
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The program aims at creating those conditions, which could integrate environmental considerations in
the operation of firms. Micro, small and medium in size firms of the manufacturing sector could submit
proposals. The program supports investments projects ranging from 30,000 euros to 200,000 euros. The
total budget accounts for 30,000,000 euro, of which 21,180,000 euro from the operational program
Competitiveness & Entrepreneurship and the rest from the regional operational programs as follows:
3,300,000 euro in Attica region from the operational regional program of Attica; 1,500,000 euro in
Central Macedonia from the operational regional program of Macedonia Thrace; 900,000 euro in
Western Macedonia by from the operational regional program of Macedonia- Thrace; 2,820,000 euro in
Sterea Ellada from the operational regional program of Thessaly Sterea Ellada- Epirus; 300,000 euro in
the region of Southern Aegean from the operational regional program of Crete- Aegean Islands. The
rate of public funding amounts to 35% of the eligible budget for the prefectures (sub-regions) of Attica
and Thessaloniki and of the islands of these prefectures (sub-regions), 40% rate in the regions Thessaly,
Southern Aegean, Ionian Islands, Crete, Central Macedonia, Western Macedonia and Sterea Greece and
45% for the regions of Eastern Macedonia and Thrace, Epirus, Northern Aegean, Peloponnesus and
Western Greece.
More specifically, the specific objectives of the program are: a) the reduction of the energy and
in particular of the environmental cost of the manufacturing firms; b) the development and placing on
the market of green products and services; c) the improvement of the environmental and social
profile of the firms and the reduction of the deficit of the social acceptance of the environmental
dimension for the whole sector of the Greek manufacturing activity; d) the compliance of the firms
operating in the manufacturing sector with the international environmental standards. Based on the
above objectives, the potential eligible actions are: a) management/ recycling/ disposal of waste; b)
monitoring of emissions; c) development of green products and processes; d) recovery- retrieve and
saving of energy and water; e) integration of standards in the production chain; f) infrastructure
development and activities for the improvement of the production process. In this context, the program
finances the following categories of eligible costs: a) configuration buildings and sites; b) supply of
machinery, computerized equipment and equipment of quality control; c) transportation modes (other
than that of passenger); d) purchase of software; e) expenditures related to the certificationstandardisation of the management systems, verification and validation of systems of environmental
management; f) expenditures related to testing and verification by relevant laboratories; g) purchase of
know-how (intangible investments); h) expenditures of consultancy and other services and activities
(intangible investments).
All types of small and micro-firms may be involved, within the meaning of Article 3 of the
definition of SMEs Regulation 800/2008, which during the use of the year 2009 and the previous of this
use (2008) were employing up to 50 employees, while the level of turnover or that of the balance-sheet
total wasnt exceeding the amount of 10 m. euro. For this program, a firm is considered to be an
existing one, if it had closed three (3) complete consecutive financial years. Eligible firms could be those
of limited liability, unlimited liability or limited partnership, as well as firms which keep B and C
categories of tax books, with one or more activities in the manufacturing sector (Codes 10- 332), as well
as the codes 82.92 and 96.01 of the services sector, as these codes appear in the permit or certificate of
entry profession, or in another equivalent document of probative value. In addition, eligible firms could
also be those with activities which are excluded from the regulation de minimis. On the contrary, firms
related to the field of franchising, as well as joint ventures and urban non-profit-making firms were
excluded from the program. There are also some additional conditions for a firm being included in the
program: a) the firm shouldnt be problematic in financial terms; b) the amount of the budget of the
proposed project shouldnt exceed the 100% of the average turnover of the undertaking in the last 3
years (2007, 2008 and 2009); c) the firms should operate legally having in their name a relevant
operating license for the activity or a relevant discharge (for firms in the services sector, any other
document that can confirm their legal operation can be valid).
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4.1.2
The program- Green Infrastructure
The program aims at making firms active and being involved in the management or alternative
management of waste and the boosting of entrepreneurship in the sector of decontamination of
industrial waste. Micro, small, medium in size or under establishment firms active in the management
of alternative management of waste could submit proposals. The program supports investments
projects which range from 300,000 euros to 3,000,000 euros. Public funding also ranges from 30% to
60% of the total eligible budget- cost depending on the location of the investment.
More specifically, the specific objectives of the program are: a) the direction of the business
activity in the field of management and of the alternative waste management; b) the promotion of
entrepreneurship in the field of the decontamination of industrial waste; c) the improvement of the
environmental and social profile of firms and the reduction of the deficit of social acceptance for the
whole sector of manufacturing; d) the increase of the number of establishments of waste disposal and,
thus, the coverage of the countrys deficit in this area; e) the expansion of the capacity of the
manufacturing sector to use recycled materials; f) the creation of new jobs. In this context, the potential
eligible actions, of which at least one must be included in the investment plan, are related to the
following categories of management and/or alternative waste management: a) collection; b) transfer; c)
transhipment, d) temporary storage, e) treatment, and as secondary eligible measures are activities of f)
monitoring emissions (automatic monitoring of emissions, registration systems emissions data,
laboratory equipment chemical analyses pollutants) and g) integration of environmental
standards/systems.
Existing and newly created very small, small and medium-sized firms, as defined by the
Commission Regulation (800/2008), could apply for this program. For this program, existing firms are
those which closed three (3) complete consecutive financial years. Eligible firms are those of limited
liability, unlimited liability or limited partnership with one or more activities related to waste water
treatment, collection, treatment and disposal of waste, recycling, recovery activities and other services
for waste management, as these activities appear in the permit or certificate of the firm establishment
or in another equivalent document of probative value. In addition, eligible firms were also those with
activities which are excluded from the regulation de minimis. On the contrary, firms related to the field
of franchising, as well as joint ventures and urban non-profit-making firms were excluded from the
program. There were also some additional conditions: a) the firm shouldnt be problematic in financial
terms; b) the amount of the budget of the proposed investment plan shouldnt exceed the 100% of the
average turnover of the undertaking in the last 3 years (2007, 2008 and 2009); c) the firms should
operate legally having in their name a relevant operating license for the activity or a relevant discharge
(for the eligible service firms, any other document that could confirm their legal operation can be valid).
All approved investment projects would have a period of 18 months from the date of the
decision for the inclusion in the program with a six-month extension for the case of Green Firm and a
period of 24 from the date of the decision for the inclusion in the program with a six-month extension
for the case of Green Infrastructure.
4.2
General information for the programs Green firm and Green infrastructure
Table 1 presents the main general features for the two programs, in relation to the number of proposals
(submitted and approved), their total budget, as well as the respective amount of public support in the
form of subsidy. The table also provides information on the number of firms with full data, some and no
data, based on the collection of the responses of the managers and the elaboration of the structured
questionnaires.
Generally, the Greek investors were more interested in the program Green Firm, submitting 89
proposals totally, contrary to the total number of 78 proposals for the case of Green Infrastructure.
However, the program Green Infrastructure had a better final response, as measured by the number
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of the approved proposals. The figures show that this final response accounts for 70% for the Green
Infrastructure program and 58.4% for the Green Firm case. The two programs greatly differ in the
parameter of total budget, with the program Green Infrastructure concentrating a much higher one
(57,344,010.11 euros and 7,270,815.47 euros respectively). However, combining the data of first total
budget, second amount of public support and third the response of the Greek firms in both programs,
it is obvious that the target of coverage taking into consideration the available government budget is, to
a great extent, fulfilled in the case of Green Infrastructure (73.4%). In contradiction, the program
Green Firm presented a very low percent of coverage of nearly 10%. Therefore, the interest and the
participation of the Greek investors in the Green Firm program were very low. In addition, the
completeness of the investment plans and their compliance with the program requirements were
incomplete and problematic, as criticized and argued in the final report of the evaluation committee.
The response of the Greek firms in the Green Infrastructure program was high enough, but the full
response of the managers in the structured questionnaire was rather low:
Table 1: The programs Green firm and Green infrastructure General features
General features
Programs
Green Firm
Green Infrastructure
Total budget
30,000,00 euro
30,000,00 euro
Number of proposals (submitted)
89
78
Number of proposals (approved)
52
53
Total amount of budget (submitted proposals)
7,270,815.47
57,344,010.11
Total amount of public support
2,945,646.36
22,396,81.79
Coverage (%, public support/ total budget
9.8%
73.4%
Number of firms with full data
47
11
Number of firms with some data
5
39
Number of firms (with on data)
1
1
Source: Own elaboration of government data.
Table 2: The programs Green firm and Green infrastructure Main economic sectors
Activities- Main economic sectors
Green Firm
Food products
Textiles
Wood and products of cork; articles of straw and plaiting materials
Wearing apparel
Coke and refined petroleum products
Printing and reproduction of recorded media
Chemicals and chemical products
Rubber and plastic products
Other non-metallic mineral products
Basic metals
Fabricated metal products
Machinery and equipment n.e.c.
Manufacture of furniture
Other manufacturing
Electricity, gas, steam and air conditioning supply
Sewerage
Waste collection, treatment- disposal activities; materials recovery
Civil engineering
Wholesale trade, except of motor vehicles and motorcycles
Services to buildings and landscape activities
Other mining and quarrying
Sale, maintenance, repair of motorcycles and parts and accessories
Source: Own elaboration of interview data and web research.
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1.96
7.84
Green Infrastructure
5.66
1.89
3.77
5.88
13.73
5.88
17.65
1.96
15.69
5.88
5.88
1.96
1.96
3.77
5.66
3.77
1.89
1.89
54.72
3.77
9.43
1.89
1.89
1.96
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The results that follow are based on the replies of the 90% and 20% of the sample (managers)
of the Green Firm and the Green Infrastructure programs respectively.
The program Green Firm was more open, addressed in the whole manufacturing sector, from
its planning and design. On the other hand, the program Green Infrastructure had a more specialized
orientation, focusing on the management of waste. Table 2 presents the sectoral distribution of the
firms, based on their main sector of activity for both the programs. Five manufacturing sectors nearly
concentrate the 70% of the firms involved in the program, with the industry of other non-metallic
mineral products being classified first (17.65%), fabricated metal products second (15.69%),
chemicals and chemical products third (13.83%), food products forth (11.76%) and the industry
wood and products of cork; articles of straw and plaiting materials fifth. The first industry is further
related to the activities of lime and plaster and the manufacture of concrete products for construction
purposes. The firms of the second industry are mainly activated in the manufacture of doors and
windows of metal and secondarily in those of metal structures, locks and hinges and treatment and
coating of metals. Chemicals and chemical products are to a large extent specialised in the
manufacture of soap and detergents, cleaning and polishing preparations, while the forth industry is
further related to the activities of bread; manufacture of fresh pastry goods and cakes. Last but not
least, the share of wood and products of cork; articles of straw and plaiting materials is equally divided
between the activities of sawmilling and planing of wood and the manufacture of other builders
carpentry and joinery.
The sectoral distribution of the firms involved in the program Green Infrastructure is clearer
and to a much larger extent concentrated. The table shows that 54.72% of the investment proposals
originate from firms activated in the activity waste collection, treatment- disposal activities; materials
recovery. Based on the content and the description of the investment plans, the above activity is
further specialized in the collection of hazardous and non- hazardous waste and the recovery of sorted
materials. This is due to the fact that the orientation of that program was narrower aiming at financing
specific activities. This concentrated pattern also indicates that the firms involved in this program
should be younger and, relatively, much younger than the firms of the other programs, as the sector of
waste collection, treatment- disposal activities; materials recovery is a recent one, which started to
concentrate the interest of potential investors after being discussed the issue of privatisation of the
water resources and of the waste management on behalf of the government. Both water resources and
waste management are still activities of the public sector, administered and managed by the 3 level of
local administration, namely the municipality level. However, the first announcements for their
privatization have already been made, leading to the first official calls and their award to the private
sector. Among the remaining industries, relatively important are the cases of wholesale trade, except
of motor vehicles and motorcycles (e.g. wholesale of waste and scrap) with a share of 9.43% and those
of food products and other non-metallic mineral products(e.g. manufacture of ready-mixed
concrete). It has to be noted and also clarified that, these remaining industries mainly include firms
with a different main activity than that of waste collection, treatment- disposal activities; materials
recovery. These firms, however, intend to invest in a secondary activity related to the Green
Infrastructure program. Based on this clarification, these remaining industries involve firms in the
above two industries, as well as firms in coke and refined petroleum products (e.g. refined petroleum
products), rubber and plastic products (e.g. rubber tyres and tubes; retreating and rebuilding of rubber
tyres), basic metals (e.g. basic iron and steel and of ferro-alloys and lead, zinc and tin production) and
firms in the civil engineering sector, which have professional experience in public works and especially
in the construction of utility projects for fluids.
Among the information and data asked and replied in the structured questionnaire were those
of the age of the firm (based on the year of establishment), the size of the firm (based on the number of
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total employment), the exports and the countries of their destination and the firm location (based on
the address of the firm). Results are presented in table 3 and summarized as follows:
The Green Firm program includes much older firms, the great majority of which being established
after 1974 and before Greece joining the EMU (economic and monetary union). On the contrary,
55% of the firms of the Green Infrastructure program have less than 10 years of life, a fact that
was implied in the previous section (sectoral analysis and distribution) and now confirmed in this
section.
Therefore, the firms of the two programs differ in their age, while the of the Green
Infrastructure case involves firms of the memorandum, namely firms that were established after
the IMFs involvement and in the middle of the most important economic crisis of the country.
The parameter of the size of the firm (based on the number of total employment) ended up in,
more or less, expected results. Most firms are micro and small, thus firms employing up to 50
employees, with those of the Green Firm program being smaller than those of the other program.
Firms in the Green Infrastructure program should be larger, because of their kind of investment
they aim at. However, this result may be problematic, as there was no data for the 26.42% (15
firms) of firms of this program.
Exports are important in most cases, as they express the openness of a firm, its extrovert nature
and its exposure on the international competition. The comparison between the two programs
shows that the firms of the Green Firm program are more open and extrovert, as the number of
firms with exports is more than twice of the respective number of the Green Infrastructure
program. However, it has to be acknowledged that the Green Infrastructure program concerns
activities which are less exportable from their nature (e.g. waste management is less exportable
than other non-metallic mineral products). In addition, this result may also be problematic, for the
great majority of firms for both programs didnt provide a definite answer on the issue of exports
based on the replies of the managers in the questionnaires.
Last but not least, there is the parameter of geography which had no empty data for any firm, as it
could be found and identified, through the web. The location of firms, classified at regional level is
similar with the results of other studies for the Greek case on the fields of innovation creation and
new firm creation (Markatou 2012; Markatou and Stournaras, 2013a), confirming this way the
importance of first Attica (the region of Athens, the capital of Greece), second Central Macedonia
(the region of Thessaloniki, the second in population municipality in Greece) and four other
regions with similar shares, which in pairs formulate two single geographical units (Thessaly and
Sterea Ellada formulate Central Greece, while Western Greece and Peloponnesus compose the
main part of the continental southern Greece). However, the geographical pattern of the firms of
the Green Firm program is more dispersed, concerning more firms from different Greek regions.
Table 3: The programs Green firm and Green infrastructure Main features
Program: Green Firm
Establishment (year)
Program: Green Infrastructure

Establishment (year)
Before 1974: 15.69%

After 1974- Before EMU: 72.55%
After EMU- Olympic games: 3.92%
After Olympic games- Before the memorandum:
1.96%
After the memorandum: 3.92%
No data: 2 firms- 1.96%
Before 1974: 5.66%

After 1974- Before EMU: 24.53%
After EMU- Olympic games: 11.32
After Olympic games- Before the memorandum:
30.19%
After the memorandum: 24.53%
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Program: Green Firm

Employment (number)
Micro: 31.37%
Small: 50.98%
Medium (50- 100): 7.84%
Medium (100- 250): 0
No data: 5 firms 9.80%
Program: Green Infrastructure

Employment (number)
Micro: 32.08%
Small: 26.42%
Medium (50- 100): 11.32%
Medium (100- 250): 3.77%
Exports (%) and regions of exports

0-5: 3.92% (Europe )
5-10: 5,88% (Europe)
10-20: 7.84% (Europe, America, M. East)
20-50: 3.92% (Europe, Middle East)
>50: 1.96% (Europe, Africa)
Firm with exports but no recorded percentage: 6
firms- 15.38%
Exports (%) and regions of exports

0-5: 0
5-10: 1.89% (Europe)
10-20: 0
20-50: 1.89%
>50: 7.55% (Europe, Middle East, Asia)
No data: 88.68%
Firm with exports but no recorded percentage: 1 firm2.12%
Geography (regional distribution, %)

Eastern Macedonia- Thrace: 11.76%
Attica: 25.49%
Northern Aegean: 0
Western Greece: 7.84%
Western Macedonia: 3.92%
Epirus: 3.92%
Thessaly: 7.84%
Ionian Islands: 0
Central Macedonia: 17.65%
Crete: 3.92%
Southern Aegean: 1.96%
Peloponnesus : 7.84%
Sterea Ellada : 7.94%
Geography (regional distribution, %)

Eastern Macedonia- Thrace: 11.32%
Attica: 35.85%
Northern Aegean: 1.89%
Western Greece: 0
Western Macedonia: 3.77%
Epirus: 3.77%
Thessaly: 5.66%
Ionian Islands: 0
Central Macedonia: 15.09%
Crete: 3.77%
Southern Aegean: 0
Peloponnesus : 7.55%
Sterea Ellada : 11.32%
Concentration Index : 0.13

Concentration Index : 0.19
Source: Own elaboration of interview data and web research.
5. Discussion
Most international organisations share the view and a large number of studies and reports argue that
there needs to be a global transformation towards a greener economy. Embracing green growth can
secure a strong, stable and sustainable future for all countries, especially, however, for those that are
characterized as developing. In the 20th century the worlds population multiplied by four, economic
output by 22 and fossil fuel consumption by 14 (U.N., 2011). The resilience of a wide range of
socioeconomic and environmental systems is now being tested by the requirements of a rapidly
growing global population and increased levels of economic activity. A key challenge will be meeting the
energy, food and water needs of 9 billion people by 2050 and ensuring that they have clean and healthy
living environments. Modelling work by the OECD, presented in its Environmental Outlook to 2050,
foresees large costs and potentially irreversible consequences of failing to adjust economic growth to
avoid environmental risks (OECD, 2011e). Environmental risk will directly affect human health and wellbeing and the potential for global sustainable development, with the most severe and dramatic
consequences occurring in developing countries. Whats more, though global GDP climbed at a steady
rate between 1971 and 2010, a wide gap still remains between the developed and the developing
world, and the gap between the richest and the poorest is growing in both. Governments that put green
growth at the heart of development can achieve sustainable economic growth and social stability,
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safeguard the environment and conserve resources for future generations. Reconciling development
with environmental protection and sustainable natural resource management is critical to avoid natural
capital depletion, climate change and social insecurity.
The response of Greek firms to the national call for boosting green entrepreneurship through
their participation in the Green Firm and the Green Infrastructure programs could be characterized as
low enough, based on the number of the submitted proposals. Figures for the case of Green Firm were
even worse, as nearly 10% of the available budget was eventually covered. Should the economic crisis
be blamed for that? Should the government authorities be more careful in their planning and
implementation? A positive response to the above questions could be too easy and far away from the
truth and there are arguments that can confirm it. In fact, three examples can be described to support
the statement that the economic crisis shouldnt be blamed for that: The PAVE 2013 program
(program for the development of industrial research) was launched in the first semester of 2013 with a
potential public expenditure of 19,800,000 euro. More than 880 firms formed collaboration
partnerships with universities and research agents in order to submit R&D proposals and being funded
by the Greek government. The total budget amounted to 216,986,164 euro with a total request for
public expenditure at 139,739,033 euro, namely much higher than expected (GSRT, 2013). At the same
time, the case of the program Extraversion Competitiveness of Business is a similar one, as the
Greek government has just announced the increase of its budget from 30,000,000 euro to 100,000,000
euro due to the high interest by the Greek investors (Ministry of Development, 2013). Last but not least,
there is also the case of the program New Innovative Entrepreneurship, which has been well accepted
despite the extremely difficult economic situation, exceeding the initial public budget and creating a
need of public financing from 30 to 37.9 m. euros. Totally 1,170 investment projects have been
submitted with a total budget of 192,883,431 euros, which corresponded to 115,730,058 euros of
public funding. The program eventually funded in the form of grants 439 investment projects with a
total budget of 63,135,109.78 euros corresponding to 37,881,065.87 euros of public funding (Markatou
and Stournaras, 2013b). Therefore, the experience of these three other programs of government
funding is completely different than that of the programs for green entrepreneurship.
5.
Conclusions
The issue of entrepreneurship is central in the effort towards green growth. Given its importance, the
concept of green entrepreneurship was emerged and developed. In this context, this paper attempted
to link aspects of green policy to green results, aiming at the target of green growth in the future for the
case of Greece, by studying and examining the response of Greek firms to the national call for boosting
green entrepreneurship. The Greek policy on green entrepreneurship was expressed by the launch of
three programmes, with the two of them already being completed and the third at the stage of
evaluation of the submitted proposals. The two completed programs are the Green Firm and the
Green infrastructure program. Totally, an amount of 60,000,000 m. euro could be provided to the
Greek investors in the form of government funding- subsidies for this purpose. The Green Firm
program aimed at creating the necessary conditions for the integration of the environmental dimension
in the operation of firms, by making interventions in their production chain, so that the area of the
protection of the environment becomes a main field of the business activity. Accordingly, the program
Green Infrastructure aimed at creating the necessary conditions so as the area of the protection of the
environment becomes a field of entrepreneurial activity.
This paper showed that the Greek entrepreneurs didnt respond sufficiently to this new reality
of entrepreneurship, which compromises the desire for profitability and growth and the need for
environmental protection, addressing the whole task as an opportunity and not as an obstacle neither a
choice after pressure. Green entrepreneurship is one of main pylons of the European policy, which is
now slowly taking hold in Greece, in compliance with the whole spectrum of Community- European
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policies as well as an awareness of the part of the political and entrepreneurial community to its
potential. Perhaps it is still early for the Greeks entrepreneurs to engage in such actions or maybe a
different approach may be needed for their activation. In any case, the challenge of Green
entrepreneurship is the challenge of the immediate future, whose framework should now be
established to offer a return in the future. This should be the target of those who decide and those who
invest.
References:
Amegashie, J.A. (2006) The Economics of Subsidies, Crossroads, Vol. 6, No. 2, pp.7-15.
Anderson, A. (1998) Cultivating the garden of eden: environmental entrepreneuring, Journal of
Organisational Change Management, Vol. 11, No. 2, pp.135144.
Baum, D.N. (1987) The economic effects of state and local business incentives, Land Economics, Vol. 63, No.
4, pp.348-360.
Baumol, J.W. (2002) Entrepreneurship, Innovation and Growth: The David-Goliath Symbiosis, New York
University Press, New York, USA.
Becker, R.A. and Shadbegian, R.J. (2008) The Green industry An examination of Environmental products
Manufacturing, Center for Economic Studies Discussion Paper, 08-34, Bureau of the Census, Washington, USA.
Bennett, S.J. (1991) Ecopreneuring: The Complete Guide to Small Business Opportunities from the
Environmental revolution, Wiley Publishing, New York, USA.
Djankov, S., La Porta, R., Lopez- de- Silanes, F. and Shleifer, A. (2002) The regulation of entry, Quarterly
Journal of Economics, Vol. 117, No. 1, pp.1-35.
European Commission (2003) Green Paper- Entrepreneurship in Europe, European Commission Publishing,
Brussels, Belgium.
Farinelli, F., Bottini, M., Akkoyunlu, S. and Aerni, P. (2011) Green entrepreneurship: the missing link towards a
greener economy, A.T.D.F. Journal, Vol. 8, No. .
Gough, J.W. (1969) The rise of the entrepreneur, Schocken Books, New York, USA.
G.S.R.T. (2013) The PAVE program, Press Release, GSRT, Athens, Greece.
Isaak, R. (2005) The making of the ecopreneur, in: M. Schaper (ed.), Making ecopreneurs: developing
sustainable entrepreneurship, Corporate Social Responsibility, London, UK.
Klapper, L., Amit R. and Guilln, M. (2010) Entrepreneurship and Firm Formation across Countries, In: J.
Lerner and A. Schoar (ed.) International Differences in Entrepreneurship, University of Chicago Press, Chicago,
USA.
Klapper, L., Laeven, L. and Rajan, R. (2006) Entry regulation as a barrier to entrepreneurship, Journal of
Financial Economics, Vol. 82, No. 3, pp.591-629.
Markatou, M. (2012) The role and the importance of the Greek SMEs in the production of innovation, Journal
of Innovation & Business Best Practice, Article ID 268692, DOI: 10.5171/2012.268692.
Markatou, M. and Stournaras, Y. (2013a) New firm creation in Greece: Evidence from the last two laws of
th
investment- incentives, Conference paper, 8 Annual London Business Research Conference, 8-9 July 2013,
London (forthcoming publication).
Markatou, M. and Stournaras, Y. (2013a) Incentives to Promote Entrepreneurship in Greece: Results Based on
the New Innovative Entrepreneurship Program, Workshop paper, First European Workshop on
Entrepreneurship Economics, 15-16 November 2013, Amsterdam, (forthcoming publication).
Ministry of Development (2013) The Extraversion Competitiveness of Business program, Press Release,
Ministry of Development Publishing.
OECD (2006) Subsidy reform and sustainable development, OECD, Paris, France.
OECD (2011a) Towards green growth, OECD, Paris, France.
OECD (2011b) Towards green growth: monitoring progress: OECD Indicators, OECD, Paris, France.
OECD (2011c) Entrepreneurship at a Glance 2011, OECD Paris, France.
OECD (2011d) Competition, state aids and subsidies, OECD, Paris, France.
OECD (2011e) The OECD Environmental Outlook to 2050, OECD, Paris, France.
OECD (2012a) Development co-operation report 2012: lessons in linking sustainability and development,
OECD, Paris France.
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OECD (2012b) Greening development: enhancing capacity for environmental management and governance,
OECD, Paris, France.
OECD (2013) Green entrepreneurship, eco-innovation and SMEs, OECD Publishing, Paris, France.
Runnalls, D. (2011) Environment and Economy: joined at the hip or just strange bedfellows?, S.A.P.I.EN.S, Vol.
4, No. 2.
Schumpeter, J. (1934) The theory of economic development, Harvard University Press, Cambridge, USA.
United Nations (2011) Towards a green economy: pathways to sustainable development and poverty
eradication, United Nations, USA.
Volery, T. (2002) Ecopreneurship: Rationale, current issues and future challenges, Conference paper,
Rencontres de lUniversit St.-Gallen, St. Gallen, Switzerland.
World Bank (2012) Inclusive green growth. The pathway to sustainable development, The Word Bank
Publishing, Washington, USA.
Wren, C. (1987) The relative dffects of local authority financial assistance policies, Urban Studies,
Vol. 24, No. 4, pp.268-278.
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Solidarity-based Network for Sustainable Recyclable

Waste Management in Lebanon: A Case Study
SALAMEH DOMINIQUE;
DERSARKISSIAN CHRISTAPOR; and
MAAMARI OLIVIA
Abstract: In response to the pollution caused by waste, sustainable waste management practices based
on sorting and recycling are currently tested and promoted worldwide. Constituting a major source of
pollution today, recyclable wastes present tremendous social, environmental and economical
opportunities if well managed. In response to this situation, Arcenciel, a Lebanese non-profit NGO has
been conducting a pilot initiative to raise public awareness regarding sustainable development issue and
to encourage waste sorting and recycling, in order to finance social services. This article describes and
discusses the key element of success of this social and green entrepreneurship project and how these
elements constitute a basis for the implementation of such a project at an industrial scale. Tested in
more than 200 organisations belonging to various sectors, this solution proved to be feasible. Whereas
the environmental cause was not sufficient to motivate behavior change in Lebanon, the motivation to
solidarity is proving to be an efficient force driver. Currently, each month, 30 tons of waste are collected
by Arcenciel, prepared to be recycled in two regional centers, and redistributed to local recycling plants.
Thus, 30 social services are financed monthly thanks to waste recycling. Besides, 20 green jobs, notably
for persons in difficulty, have been created. The holistic sustainable development approach, associating
social causes to environment preservation, makes this solution very innovative. The simplicity of this
low-cost solution allows it to be easily replicated in organisations or countries seeking for sustainable
waste management solutions.
KEYWORDS: Waste, recycling, green economy, sustainable development, environment
1.
Introduction
The environment is degrading dramatically in Lebanon. This is considerably affecting the well-being of
the population. More particularly, Lebanon is presently facing a huge problem of municipal waste
management, since there is no sorting at the point of waste generation. Environmental degradation is
about 1.5 times higher than in high-income countries. Costs of environmental degradation in the year
2000 were estimated at USD 565 million or 3.4% of GDP. Lebanons annual environmental damage costs
related to waste is estimated to 10 million USD (World Bank, 2004).
DOMINIQUE SALAMEH: Research Professor and Director of Chemistry Department in St-Joseph University of Beirut.
CHRISTAPOR DERSARKISSIAN: Head of the sector Recyclable Waste Management in the Environment Program of Arcenciel, a
Lebanese NGO. OLIVIA MAAMARI: Head of the Sector, Research and Development of the program of Environment of
Arcenciel.
Arcenciel, Environment Program, B.P. 165216, Beirut, Lebanon
Saint Joseph University, Faculty of Sciences, Chemistry Department, B.P. 11-514, 11072050- Lebanon
Tel: +961.3.285753. Email address: oliviam@arcenciel.org
Acknowledgement: The authors would like to acknowledge the association Arcenciel, that have initiated the solidarity-based
network for sustainable recyclable waste management, and all the organisations that joined this network
Solidarity-based Network for Sustainable Recyclable Waste Management in Lebanon: A Case Study
Although 40% of the 1.57 million tons of municipal wastes produced annually is composed of
potentially recyclable materials (paper/cardboard, plastic, metal, glass), only 8% is recycled. In most
cases, these wastes are left in sanitary landfills or dumps, when they are not simply thrown in the
nature or burnt (Country report on the solid waste management in Lebanon; Sweepnet; 2010). In
response to the pollution caused by waste, and to the depletion of natural resources, sustainable waste
management practices based on sorting and recycling are currently tested and promoted worldwide,
especially since incineration and pyrolysis present problems such as air pollution and high initial
investments. One of the most accepted alternatives to reduce the amount of solid wastes that need
final disposal is the use of massive recycling programs (Vazquez et al, 2002).
New models and solutions, more sustainable, economical and environmentally friendly, are
being sought and must be tested and adopted. Constituting a major source of pollution today,
recyclable wastes present tremendous social, environmental and economic opportunities if well
managed. Nevertheless, the implementation of these techniques requires a mobilization and
participation of populations and communities; otherwise they are doomed to failure.
In response to this situation, and in the context of its mission of participating in sustainable
development, Arcenciel, a Lebanese nonprofit NGO committed to sustainable development has been
conducting a pilot initiative since 2009 to raise public awareness regarding sustainable development
issue and to encourage waste sorting and recycling.
This article describes and discusses the key elements of success of this green and social
entrepreneurship project and how these elements constitute a basis for the implementation of such a
project at an industrial scale.
2.
Materials and methods
A sustainable development approach

The principle of the pilot project bouchons roulants (rolling caps) launched by Arcenciel in 2009 was
to make general public sort plastic caps and give them back to Arcenciel, which in turn sells them to
recycling facilities. Each ton of caps collected and sold allows financing the production of a wheelchair
at Arcenciel factories, which will be offered to a person having disability.
This pilot project is very representative of the concept of sustainable development, since it
integrates a socio-cultural dimension, an environmental dimension, and an economical dimension.
From a socio-cultural aspect, waste recycling allows reducing unemployment and health problems
associated with poor waste management. Waste selling to recycling industries generates revenues that
are reinvested in social services. From an environmental aspect, waste recycling reduces natural
resources consumption, landscape degradation, groundwater contamination, and greenhouse gases
emissions. From an economical aspect, waste recycling promotes local recycling industries, green jobs,
and allows an economy of lands used for land filling.
Social motivation
Source sorting involves a modification of behavior and practices. This modification is extremely difficult
to obtain. Thus, socio-cultural particularities should be taken into consideration while choosing
arguments to convince target groups. In Lebanon, whereas a general lack of concern about
environmental issues can be observed, on the contrary, social issues mobilize easily. Persons feel
compassion when they see the difficulty or distress of others. In this case, donate waste is a simple way
to get over powerlessness and act. Therefore, a social goal has been accorded to source sorting.
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SALAMEH; DERSARKISSIAN; and MAAMARI
Feasibility study
The successful results achieved by this project has shown that the population was ready to engage in a
system of waste sorting at the source, provided that this action comes with a social purpose. As a
consequence, Arcenciel is extending this action to other types of recyclables (cans, paper, cardboard,
transparent glass, plastic), and other types of social services (such as technical aids provided to persons
with disabilities, the treatment of a patient for a specified time) through the creation of a solidaritybased network for sustainable recyclable waste management, reproducing the bouchons roulants
model. The feasibility study (developed by Arcenciel, in collaboration with the Saint Joseph University
(USJ) and Universit Paris Dauphine) indicates that the project is viable. This executive MBA study
succeeded with honors, and was nominated for Best International MBA project-Paris 2012 (ParisDauphine University Sorbonne).
Pillars of the proposed waste management system
Thus, the proposed waste management system is based on 3 main pillars:
- Sorting at the point of generation and recycling,
- Social integration of persons in difficulty in the waste management process,
- Generating economical revenues to be reinvested in the development of the municipality or
other organisations, since Arcenciel is a nonprofit organisation.
Solution components
The network provides a sustainable solution, which can be described as follows:
-
Creation or identification of environmental units inside organisations, which should be

responsible for awareness and sorting control in organisations (scout associations, social clubs,
youth clubs, environmental departments)
Providing awareness sessions on sustainable development and waste sorting and recycling to
participant organisations. Indeed, sorting at the point of generation preserves materials quality
and thus their market value.
Support to organisations (universities, companies, schools, municipalities) in the development
of storage areas for recyclable waste (determination of appropriate sorting bins specifications
and locations).
Waste preparation to recycling in regional center (secondary sorting, compacting/shredding).
This step improves the quality of the waste prior to its sale to recycling plants, and optimizes
transportation.
Collection and redistribution of waste to recycling plants in collaboration with a network of
NGOs.
Development of a transparent traceability system
Achievement of social services determined by the organisation and financed through the sale of
sorted waste (after deduction of operational costs). These services are provided through
Arcenciel programs such as Rehabilitation, Health, Social and Youth; or through other
organisations, depending on the needs.
Since Arcenciels mission is to participate to sustainable development of the society by

supporting fragilized groups and integrating marginalized people, the recruitment of people with
difficulties (people with disabilities, ex-addicts, ex-prisoners...) is promoted: 30% of Arcenciels team has
a disability, and the team of the program of environment in particular is formed of 70% by people
having difficulties.
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3.
Results and discussion
Number of participating organisations

Tested in more than 200 organisations, including municipalities, schools, universities, companies,
refugee camps, residential buildings, and other associations, this project proved to be very feasible and
successful. Mobilizing society surprisingly and unexpectedly, it initiated a change both culturally by
initiating a culture of sustainable development in Lebanon, and environmentally, by offering an
innovative solution to waste management. Whereas the environmental cause was not sufficient to
motivate behavior change in Lebanon, the motivation to solidarity is proving to be an efficient force
driver. Thus, the project launched a transition of a society where waste is a source of pollution,
unpleasant odors, and diseases, towards a society where waste is considered as a valuable resource
that can be used, if well managed, for sustainable development and solidarity actions. These results are
impressive for a country where affected by a long and ravaging civil war, where the culture of resources
preservation is not diffused yet. The number of participating organisations is growing since 2012, as
shown in figures 1 and 2.
To maintain public motivation, arcenciel regularly communicate news and information about
waste issues, using newsletters and social media.
Figure 1: evolution of the number of participating organisations between 2012 and 2013
300
200
100
0
2012
2013
Figure 2: evolution of the number of participating organisations in 2013
Dec-13
Nov-13
Oct-13
Sep-13
Aug-13
Jul-13
Jun-13
Jan-13
Feb-13
Mar-13
Apr-13
May-13
250
200
150
100
50
0
Categories of participating organisations

As shown in figure 3, participants belong to various sectors, with a majority of companies
(39.9%) and associations (15.27%). In fact, what makes this solution appealing for the organisations
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from the private sector is that it gives them the opportunity to contribute through waste sorting to the
implementation of social activities and environment preservation. This can be undertaken under their
Corporate Social Responsibility and improve their image. Associations can increase the social actions
they provide trough encouraging waste sorting among their community. Schools and universities use
this solution as an educational tool on sustainable development.
Figure 3: categories of participating organisations
1.48%
1.48%
0.99%
3.94%
0.49% 1.97%
Companies
Schools
15.27%
39.90%
Universities
6.90%
Banks
5.91%
Health Care Centers
9.85%
Clubs
3.94%
5.91%
Residential buildings
1.97%
Restaurants
Quantities of recyclable waste

The quantities of recyclable waste have been significantly increasing since 2012, as shown in figure 4
and 5. Currently, each month, 30 tons of waste are collected by arcenciel, prepared to be recycled in
two regional centers located in Beirut and in Bekaa, and redistributed to recycling plants. Thus, 30 social
services are provided monthly thanks to waste recycling. These social services can be provided directly
to persons in difficulties, or through association serving persons in difficulties (Such as the Red Cross or
the Civil Defense). As a consequence of this solution, pollution by waste dumped into the environment
or burned in the open air is reduced. Similarly, amounts of waste deposited in landfills, polluting the air,
soil and groundwater are reduced. We expect a gradual increase in the amount of waste collected over
time, due to an increase in the populations and organisations adhesion, and to the creation of
additional centers for preparation to recycling in different regions.
Figure 4: evolution of the quantities of recycled waste between 2012 and 2013 (in kg)
300
200
100
0
2012
2013
Figure 5: evolution of the quantities of recycled waste in 2013 (in kg)
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30,000
25,000
20,000
15,000
10,000
5,000
0
Creation of green jobs

Until now, the project created jobs to 20 persons, including technicians, drivers, drivers assistants, and
specialists in environment science and management, waste management, industrial technology,
management, finances, and education to sustainable development.
Cost effectiveness
The proposed solution is based on an economy of scale, and presents relatively low investment and
operating costs. Thus, the implemented project is financially sustainable, and has been studied to be
profitable on medium-term: this is possible through waste selling revenues and through a rigorous
monitoring and optimization of the process. Revenues are used to cover running costs and salaries. The
profits realized are reinvested in social services or actions.
Main barriers and opportunities for private sector
Absence of recycling/treatment industries for certain types of waste, such as colored glass, and limited
capacities of recycling industries constitutes the main encountered barrier. Therefore, creation of new
recycling industries in Lebanon is found necessary.
4.
Conclusion
The projects success can be the basis for the implementation of national policies for sustainable waste
management in Lebanon, through proposing legislation and creation of a national steering committee
for the implementation of government strategies of waste management. The proposed solution could
provide an appropriate management for recyclable waste that forms 28 % from total waste. Besides,
sorting recyclable waste will considerably facilitate organic waste sorting. This category forms 60% of
the waste in Lebanon. Hence, the proposed solution would allow a better control of the quality of raw
materials for composting and anaerobic digestion, and has multiple advantages on the environment and
public health.
The project can be reproduced in other countries, especially developing ones, that face
difficulties in implementing source sorting and that have not sufficient capacities to control and monitor
incinerators.
In fact, our solution respond to an urgent and fundamental need in Lebanon, but also
worldwide in the sense that waste management is currently a critical problem, a major preoccupation
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and an urgent priority, especially that waste management is a sustainable development and climate
change crucial issue.
References:
Sarraf, M., B. Larsen and M. Owaygen, Cost of Environmental Degradation: The Case of Lebanon and
Tunisia Environment Department Paper No. 97, the World Bank, Washington, DC. 2004
Country Report on the Solid Waste Management in Lebanon, Sweepnet (The Regional Solid Waste Exchange of
Information and Expertise network in Mashreq and Maghreb countries) 2010.
Mariana Chavez-Vazquez and David M. Bagley, Evaluation of the performance of different anaerobic digestion
technologies for solid waste treatment, Toronto, 2002
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Sustainable Development through Finding Useful Application

of Bulk Industrial Waste: The Case of the Rice Husk Ash
K. R. CHARI
Abstract: A change in our approach is needed in the way we look at resources. A shift in thought process
and the way in which we look at waste, especially while dealing with any bulk industrial waste. In the
ecological system, every waste of an animal is a food resource for some other animals or insects. The
same approach, when adopted in case of the industrial wastes, the authors experience and experiments
prove that waste of an industry can be a very good input source for some other industry. Rice milling
industry generates a lot of rice husk during milling of paddy which comes from the fields. This rice husk is
mostly used as a fuel in the boilers for processing of paddy. The early known applications of rice husk as
fuel have been in the gasifiers to produce producer gas for various thermal applications. The chemical
analysis of the rice husk ash brought to light that it in fact is a very good source of amorphous reactive
silica (SiO2) which is formed as white crystalline lumps after complete combustion of the rice husk.
KEYWORDS: Industrial Waste; Rice Mills; Rice Husk Ash; Green Concrete; Green Sand; Value Added Products from
Waste
Background and Introduction: Rice and Rice Husk Ash1

Production
Rice is one of the most important food crops of India in terms of area, production and consumer
preference. India is the second largest producer and consumer of rice in the world. Rice production in
India crossed the mark of 100 million MT in 2011-12 accounting for 22.81% of global production in that
year. The productivity of rice has increased from 1984 kg per hectare in 2004-05 to 2372 kg per hectare
in 2011-12.2
Indian share in global rice production has been hovering in the range of 19.50 to 24.52 % as
shown in Table-1. Indian share dipped below 20 percent only in 2009-10. Production of rice in India is
expected to drop this year from 104.3 million MT to 101.80 million MT (including 11.11 million MT rabi
production) due to lower kharif output pegged at almost 90.69 million MT. Below given table shows the
world rice production and percentage share of India in total production:
K. R. Chari, Professor (Operations Management), Birla Institute of Management Technology, Greater Noida NCR - India :
Email: km.chari@bimtech.ac.in
1
http://www.ricehuskash.com/product.htm
2
http://drd.dacnet.nic.in/Downloads/Rice-Varieties-Upto-2010.pdf.
www.ijsme.com
Sustainable Development through Finding Useful Application of Bulk Industrial Waste: The Case of the Rice Husk Ash
Table-1: Indias Rice Production in Global Context3:

Year
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13*(Proj.)
World Production in
million MT
399
380
390
405
423
427
438
459
457
449
456
463
Indian Production in
million MT
93.34
71.82
88.53
83.13
91.79
93.35
96.69
99.18
89.09
95.98
104.32
103
Indias share (In %)

23.39
18.90
22.70
20.53
21.70
21.86
22.08
21.61
19.49
21.38
22.88
22.25
Rice Milling operation and generation of Rice Husk

Rice milling industry generates a lot of rice husk during milling of paddy which comes from the fields.
This rice husk is mostly used as a fuel in the boilers for processing of paddy. Rice husk is also used as a
fuel for power generation. During milling of paddy about 78 % of weight is received as rice, broken rice
and bran. The rest about 22 % of the weight of paddy is received as husk. Rice husk is the natural sheath
that forms on rice grains during their growth and it had no commercial value till late 1980s. In Malaysia,
rice husk is produced in abundance after every paddy harvesting season and contributes to major
agricultural waste.
This husk is used as fuel in the rice mills to generate steam for the parboiling process. In the
recent years, say during the past decade and a half, many power generation facilities have started using
rice husk as a basic source of fuel. Such a use has created a new market for the rice husk, which hitherto
was treated as a nuisance by product. While the rice mills were earlier paying for disposing the husk, at
present the price of this husk is fetching them anywhere between Rs. 3,000 to Rs. 3,500 per Metric
Tonne.
Starting from the late 1980s, and especially during the 1990s, various experiments were
undertaken and the rice husk, due to its natural form, being of almost uniform size and shape, was
found to be a potential source of thermal energy, having a very attractive heating value with calorific
values in the range of 3,000 to 3,500 Kcals/Kg. This was almost closely equivalent to the grade E and F
coals.
The early known applications of rice husk as fuel have been in the gasifiers to produce producer
gas for various thermal applications. Subsequently, the scientists found its application in running diesel
engines by replacing part of the diesel oil with the producer gas from the rice husk fired gasifiers. In
India, professors from the IIT Delhi, IIT Mumbai, IISc Bangalore, Bharatidasan School of Energy Trichi
and National Productivity Council formed a large team of Principal Investigators working for perfecting
the gasifier designs.
While most of such gasifiers were initially designed for capacities in the range of 5 to 10 KW
thermal equivalent, some of the manufacturers of gasifiers have been successful in using rice husk to
3
th
agricoop.nic.in/imagedefault/trade/Rice%20profile.pdf (Accessed on 14 January 2014)
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generate up to 2 MW thermal energy. During the period 1995 to 2005, the Ministry of New and
Renewable Energy (MNRE), GOI has designed various incentive schemes to promote biomass based
power generation. Rice husk was identified as a major source of fuel. Many of the rice husk based
power generation units have been commissioned, with capacities as high as 12 MW. However, most of
them have not been sustainable due to the availability of enough rice husk economically, primarily due
to its high transportation costs and storage needs.
The uniformity of the material, and its low bulk density also found its application in fluidised
bed furnaces for hot air generation and also steam generation.
Till the years 1980s, rice husk was considered to be a nuisance item and the producers,
especially the rice mills across the country were finding it difficult to dispose the voluminous by product
of the rice milling operation, i.e. rice husk. The mill owners used to pay money to the vendors who
would lift it from the mill and dispose it off in open unused lands or use for landfills. However, very
small (miniscule) quantities were used as a fuel by road side hotels (dhabas) or some times for domestic
water heating purpose. It was however never used as a basic fuel. The left over material, i.e. ash of the
rice husk was invariably left in the area. Being very light in weight, even very gentle breeze would raise
it in air and spread it across in the nearby areas. Due to its nature, it could not be used as fodder or
cattle feed. The husk was also eliminated by burning it in the field at high temperature leaving behind a
white grey/blackish powder. The presence of the silica ash causes a number of problems to the
environment that causes pollution and disposal problems because of its non-biodegradable property.
Therefore, useful applications of the rice husk were felt desirable to solve this problem.
However, with the ever increasing danger of depletion of fossil fuels and search for alternative
sources of energy, the scientists across the world have been experimenting with various nonconventional sources. Rice husk happened to be one of them.
Starting from the late 1980s, and especially during the 1990s, various experiments were
undertaken and the rice husk, due to its natural form, being of almost uniform size and shape, was
found to be a potential source of thermal energy, having a very attractive heating value with calorific
values in the range of 3,000 to 3,500 Kcals/Kg. This was almost closely equivalent to the grade E and F
coals.
The early known applications of rice husk as fuel have been in the gasifiers to produce producer
gas for various thermal applications. Subsequently, the scientists found its application in running diesel
engines by replacing part of the diesel oil with the producer gas from the rice husk fired gasifiers. In
India, professors from the IIT Delhi, IIT Mumbai, IISc Bangalore, Bharatidasan School of Energy Trichi
and National Productivity Council formed a large team of Principal Investigators working for perfecting
the gasifier designs.
While most of such gasifiers were initially designed for capacities in the range of 5 to 10 KW
thermal equivalent, some of the manufacturers of gasifiers have been successful in using rice husk to
generate up to 2 MW thermal. During the period 1995 to 2005, the Ministry of New and Renewable
Energy (MNRE), GOI has designed various incentive schemes to promote biomass based power
generation. Rice husk was identified as a major source of fuel. Many of the rice husk based power
generation units have been commissioned, with capacities as high as 12 MW. However, most of them
have not been sustainable due to the availability of enough rice husk economically, primarily due to its
high transportation costs and storage needs.
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Observations
Case 1: Gasifier application
In case of gasifier for thermal applications, it has been observed that the gas quality is very good and it
burns very efficiently and cleanly. Such a gas is the result of the volatiles in rice husk. Although
considerable amount of Tar is generated in the process, but it also gets burnt in the furnace along with
the gas, and does not create any operational problems. However, the byproduct Char contains all the
fixed carbon and forms about 40% of the weight of the rice husk. This char needs to be separately used
as a secondary fuel.
In case of use of gasifier for electricity generation, through a dual fuel engine running a
generator, the results have not been very favourable. Although experimental runs have established that
almost up to 80% of the Diesel oil can be replaced by the gas from the gasifier, but the system gets
highly de rated in its capacity. The derating has been observed to be of the order of up to 30%. An
appropriate gas engine should solve the problem to some extent, for electricity generation.
Case 2: Biomass based power generation units
In case of power generation through use of rice husk, burning is much better as compared to the
gasifier case. The fixed carbon also gets burnt and thus provides much higher levels of thermal value per
unit of rice husk. However, this process also generates almost about 25% ash by weight of the rice husk.
The units being of a comparatively large size than the gasifiers, the volumes of rice husk ash are also
higher, thereby creating a problem of its disposal.
The uniformity of the material, and its low bulk density also found its application in fluidised
bed furnaces for hot air generation and also steam generation.
The problem area: Generation of Rice Husk Ash
The rice husk contains about 75 % organic volatile matter and the balance 25 % of the weight of this
husk is converted into ash during the firing process, in technical terms, this is known as rice husk ash
(RHA). As a result of such applications as a fuel, an estimated 25% by weight of rice husk is left over as
RHA. This RHA is a great environmental threat causing damage to the land and the surrounding areas in
which it is dumped. The fineness of the RHA is the main reason, which makes it fly easily even under
mild breeze, not to talk about heavy winds. So, for every 1000 kgs of paddy milled, about 220 kgs (22 %)
of husk is produced, and when this husk is burnt in the boilers, about 55 kgs (25 %) of RHA is generated,
or say an average of 5.5% of the total production of rice paddy. Considering Indias production of Rice in
the range of 100 million MT annually, an estimated about 5.5 Million metric Tons of RHA is generated in
the country.
Addressing the issues related with Rice Husk Ash.
Each one of the industry using the rice husk as a fuel has been facing one single problem, that of the
objections raised by the adjoining population complaining about the ash flying in to their farms, houses
and open fields. There have been many cases where the neighbours have lodged complaints with the
concerned state pollution boards.
A general scene near any industry using Rice Husk as fuel will be heaps / hillocks of rice husk ash
is depicted in the Picture 1 and Picture 2 below. Being very fine and of low bulk density, it flies very
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easily with mild breeze and gets spread over the nearby areas. Picture-3 below shows a sample of
washed RHA, as it comes out of any furnace using rice husk as fuel.
Most of the paddies producing areas of the country have this problem.
Picture-1: A view of a plant using rice husk as fuel. Notice the blocks, highlighting heaps of the left over
ash dumped around the plant.
Picture-2: Close up view of ash dumps
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Picture-3: A close up of ash.

Some experiments
After washing the rice husk ash and centrifuging, the solids settled down in a series of layers, the
heaviest/large crystals on the bottom and the lighter suspended powdery material in the top layers.
Silica being the basic form of sand, can be used for plastering, particularly for filling the cracks,
as it has a better penetration capacity in to fine crevices of cracks in civil structures.
The author undertook the work of repairing the cracks in the roof of his own house, which used
to seep heavily in rainy season, and has earlier been repaired many times in the past. When repaired
with the rice husk silica and cement used as a slurry, it sealed the crevices in the roof, and even after 9
years, the roof does not seep. Such application in sealing the crack on the roof has resulted in to
permanent sealing of the crack and complete stoppage of seepage of rain water. This was due to the
fact that rice husk ash is the finest of sands available anywhere.
To demonstrate this, the author visited a rice mill in Bahjoi, UP in the year 2011. This plant was
having a 1 Mw captive power plant using their own rice husk as fuel. The unit was generating volumes
of such ash on a daily basis. Pictures 4 to 7 show different stages of the experiment.
Picture-4: Rice husk as fuel
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Picture- 6: Ash used for plaster
Picture-7: Cement plaster sample with rice

husk ash and cement in 1:6 ratio
Please note that no conventional sand was used. Only the rice husk ash and cement were used.
The mason, who conducted this experiment and who had about 30 years experience in the field
expressed his full satisfaction and approved that the ash in fact can be used in regular plaster mix and
will give a more compact plastering. This has been already proved in case of the fly ash blended cement.
However, before trying to find further alternative applications/uses of the ash, it was thought fit
to identify the ingredients or components of ash. Accordingly, a laboratory analysis was carried out.
The report of three different samples is as below.
Rice husk powder analysis report dated 16.2.2011
Loss of volatile % material at 900 degree
Analysis after loss of volatile material
Sodium as Na2O
Alumina as Al2O3
Silica as SiO2
Phosphorous as P2O5
Potash as K2O
Calcium as CaO
Iron as Fe2O3
Chloride as Cl
total %
sample A
4.9
sample B
6.8
sample C
11
0.15
1.38
91.7
0.98
2.34
1.12
1.09
0.18
98.94
0.27
1.15
92.8
0.94
1.87
1
0.76
0.086
98.87
1.08
1.44
81.9
0.22
1.47
0.51
5.79
6.14
98.55
Above are major constituents after removing volatile material rest are minor inorganic content.
It was seen that the major portion of the ash contained silica (SiO2). Based on the findings in the test
report, different options for use of silica rich ash were considered.
Used as a fine filler in plastering and water proofing.
M/s Sujana Electronics in Hyderabad (AP) had a manufacturing facility with about 10,000 square feet of
roof. The company was facing a serious problem of heavy seepage of water after every rain. The culprit
spot was identified and repaired with the rice husk ash and cement mix and the whole problem was
solved. Pictures 8 through 12 show different stages of the work.
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Picture-8: The culprit spot on the roof
Picture-9: Filling of the spot with RHA and

cement mix
Picture-10: Curing
Picture 11: Another culprit spot
Picture 12: Filled, plastered and cured.

Other possible applications:
Use in foundry as separation sand:
In the town of Samalkha in Haryana, a sample of the finer portion of ash was tried in the foundry
industry as separation sand used for avoiding sticking of the two parts of steel and CI casting mould
boxes. It proved that the material can be used for this purpose too.
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Use as slagging ingredient in steel melting furnace

Subsequently, a sample was tested for its slagging characteristic in steel melting induction furnaces. It
worked perfectly to the full satisfaction of the shop engineers and they wanted to get more of the
material.
Use as heat insulation blocks:
Another experiment carried out was by making slabs of the material, with cement as a binder. This
resulted in to production of light weight blocks/slabs, which have a very low heat sinking property. It
seems to be a very good case for further work to develop them as low cost heat insulation material for
use in industry for covering furnaces to avoid heat losses through radiation. An experiment carried out
at M/s Balaji Roofinfs (P) Ltd. In Andhra Pradesh proved that this material in fact is a very good heat
insulator. The following Picture-10 depicts the experiment. Picture-13 depicts the bindability of the ash
with cement. Picture-14: shows blocks which were prepared in the year 2003 using the fly ash of rice
husk, which was reported to have as high as 94% amorphous Reactive Silica. They have been found to
be having excellent heat insulation characteristic, and very light in weight.
Picture-13: Rice husk ash block in cement

bonded
Picture-14: Slabs made with superior grade

husk ash
Heat insulation characteristics of rice husk ash:

Considering that silica has heat insulation properties, an experiment was carried out at M/s Balaji
Roofings (P) Ltd. At Gokavaram, near the city of Rajahmundry in Andhra Pradesh.
Picture-15: Hot air duct covered with the rice husk ash blended with cement.
While the surface temperature of the hot air duct was measured to be 3500C on its open
surface, the temperature on the half inch thick insulated surface was measured at only 650C
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The approach to addressing the problem:

Characteristics of RHA
Considerable amount of research has been conducted on the RHA during the twenty first century. The
various researchers have found that RHA is mainly composed of silica and carbon black remaining from
incomplete combustion4. Both silica and carbon black have long been recognised as the main
reinforcing fillers used in the rubber industry to enhance certain properties of rubber vulcanizates, such
as modulus and tensile strength.
Source of amorphous silica:
In one of the instances, when all the three chambers of a fluidized bed fired furnace were shut down for
a major repair of the furnace, a visual observation of the inside of the furnace was carried out. It was
observed that there were scattered whitish patches amongst the grey ash formed in to a dome shaped
structure on the roof of the furnace.
With a view to identify whether this waste can be put to some productive use, a sample was
drawn and sent to a laboratory. Initially, the laboratory officials were not interested in testing such a
waste. However, after analyzing the material they needed larger samples, stating that it does have
some very interesting ingredients or components in it.
The chemical analysis of the rice husk ash brought to light that it in fact is a very good source of
amorphous reactive silica (SiO2) which is formed as white crystalline lumps after complete combustion
of the rice husk. It also contains some fractions of various metallic powders.
This RHA is found to contain around 85 % - 90 % amorphous silica. If properly and fully burnt
under controlled conditions, the percentage of Amorphous Reactive Silica may go even up to 95%.
In addition, the Blaine No. was favourably higher than that of cement, meaning that this silica
based powder was finer than cement. It was also quite heartening to note that the Blaine no. (Exposed
Surface Area in Square Meters per gram of the material) was reported to be about 3,600 as compared
to the blaine no. of cement as 2,900 to 3000. This only shows that the powdery silica is finer than
common cement, which has a Blaine No. of 2,800 to 3,000.
Value added products from waste:
Having realized that the rice husk does contain amorphous silica, an effort was made to produce the
purest form of silica. For the purpose of this exercise, a muffle furnace was used with borosil crucible.
Pictures 16 through 20 show different stages of the experiment.
Objective of the experiment: To establish that rice husk is a very potential source of amorphous and
Reactive Silica.
A total of ten samples were taken and put in the furnace to be heated up to a temperature of 8800C.
2002 Wiley Periodicals, Inc. J Appl Polym Sci 83: 24852493, 2002: http://onlinelibrary.wiley.com/doi/10.1002/app.10249/abstract
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Picture-16: Rice Husk
Picture-17: Muffle furnace
Picture-18: Empty crucible
Picture-19: Crucible with rice husk
Picture-20: White Amorphous Reactive Silica samples

Table 2 depicts the details of the experiment.
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Table-2: The following table provides the relevant details.

Rice Husk Silica experiments at Bheema Cements Limited
Date
28-05-2013
Sample
No.
1
2
3
4
5
6
7
8
9
10
Overall %
Crucible
weight (A)
29.2918
29.3471
27.436
29.6702
29.3053
33.4009
28.0445
29.7852
32.1345
25.4059
Crucible + Material
weight (B)
31.2918
31.3471
29.7781
32.0702
31.5319
35.5533
30.6389
31.9864
34.1271
27.9745
Material
weight FOR A
= (B)-(A)
2.0000
2.0000
2.3421
2.4000
2.2266
2.1524
2.5944
2.2012
1.9926
2.5686
22.4779
Crucible
plus silica
weight (D)
29.6673
29.7271
27.8806
30.129
29.7232
33.8126
28.5367
30.2018
32.5115
25.8912
Silica
weight
FOR A =
(D)-(A)
0.3755
0.3800
0.4446
0.4588
0.4179
0.4117
0.4922
0.4166
0.3770
0.4853
4.2596
% of Silica to
Husk (F) =
FOR
A*100/FOR
A
18.78
19.00
18.98
19.12
18.77
19.13
18.97
18.93
18.92
18.89
18.95
Note* In the first two samples, exact weight of 2 gms. of rice husk was taken. In all other cases, the
crucible was filled with rice husk and actual weight was taken. From the above, it was seen that super
white coloured ash was formed and accounted for about 18.95% by weight of the rice husk. The ash
was subjected to further chemical analysis for its composition.
Other application of Rice Husk Ash5
RHA is a carbon neutral green product. Lots of ways are being thought of for disposing them by making
commercial use of this RHA. RHA is a good super-pozzolan. This super-pozzolan can be used in a big way
to make special concrete mixes. There is a growing demand for fine amorphous silica in the production
of special cement and concrete mixes, high performance concrete, high strength, low permeability
concrete, for use in bridges, marine environments, nuclear power plants etc. This market is currently
filled by silica fume or micro silica, being imported from Norway, China and also from Burma. Due to
limited supply of silica fumes in India and the demand being high the price of silica fume has risen to as
much as US$ 500 / ton in India.
From RHA, organic micro-silica / amorphous silica can be manufactured, with silica content of
above 89%, in very small particle size of less than 35 microns Silpozz for application in High
Performance Concrete6.
Other possible uses of Rice Husk Ash
This product can be used in a variety of applications like:
Green concrete
High performance concrete
5
6
http://www.ricehuskash.com/application.htm
www.silpozz.com
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Refractory
Ceramic glaze
Insulator
Roofing shingles
Waterproofing chemicals
Oil spill absorbent
Specialty paints
Flame retardants
Carrier for pesticides
Insecticides and bio fertilizers etc.
Rice husk ash used in making of concrete canoe7
The Michigan Tech Concrete Canoe Team named their 2005 concrete canoe The MacInnes after the
legendary Michigan Tech hockey team. Their black, 20ft long, 175 lb concrete canoe carried the team to
a third place finish and earned them a $1500 scholarship.
Similar to silica fume, RHA possesses a small particle size that lowers the porosity of concrete
and is a highly reactive pozzolan. However, previous experience has shown that silica fume decreases
the initial set time of concrete and increases the amount of shrinkage in the mix.
RHA does not possess these undesired characteristics. Furthermore, RHA has a greater amount
of surface area per unit weight than silica fume, helping to increase the overall strength of the mix.
In one experimental study, two grades of rice husk ash (low- and high-carbon contents) were
used as filler in natural rubber. Comparison was made of the reinforcing effect between rice husk ashes
and other commercial fillers such as talcum, china clay, calcium carbonate, silica, and carbon black.
Fourier transform infrared spectroscopy (FTIR) analysis was employed to study the presence of
functional groups on the ash surface. The effect of silane coupling agent, Bis(3-triethoxysilylpropyl)
tetrasulfane (Si-69), on the properties of ash-filled vulcanizates was also investigated. It was found that
both grades of rice husk ash provide inferior mechanical properties (tensile strength, modulus,
hardness, abrasion resistance, and tear strength) in comparison with reinforcing fillers such as silica and
carbon black. However, the mechanical properties of the vulcanizates filled with rice husk ash are
comparable to those filled with inert fillers. The addition of silane-coupling agent has little effect on the
properties of the ash-filled vulcanizates. This is simply due to the lack of silanol groups on the ash
surface.
Concluding:
While dealing with any bulk industrial waste, we need a paradigm shift in our thought process and the
way in which we look at waste. In the ecological system, every waste of an animal is a food resource for
some other animals or insects. The same approach, when adopted in case of the industrial wastes, the
authors experience is that a waste of an industry can be a very good input source for some other
industry. We should develop a habit of looking at such item as a resource and not as a waste.
Narayan Prasad Singhania: Michigan Technological University: singhanianp@gmail.com
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Indigenous Resources, Ethnicity and Enterprises:

A Comprehensive Study of Bamboo as a Promising Resource
for Enterprising in Assam
NABAJYOTI DEKA
ABSTRACT: Indigenous Resources have been a major source for fulfilment of daily needs for mankind.
There are certain resources which not only satisfy the local demand but possess the potential to be
accepted universally. Bamboo plant is one such green material that is abundantly available in many
geographical regions including Assam, North East India. This paper is a general review to appreciate the
role of bamboo as an eco-friendly resource material for livelihood of people residing in the state and its
potential at the global level. It includes study of the association between various ethnic groups in the
region with bamboo, and how bamboo based products have gradually evolved as an industry. Overall,
the purpose is to find the marketability of bamboo made items in the international market and thereby
create value for the supply chain. The study also includes description of diverse usage of bamboo and
bamboo made products amongst various communities in the state. The methodology involved blending
of individual observations made since years with various relevant information from literature and
reliable reports. Inputs from those associated with this small scale industry have been considered for
more insight. The finding clearly reveals the immense potential of the plant in promoting profitable
enterprises at various levels. The government and concerned organisations have also realised the same
and have started taking necessary initiatives to promote sustainable development.
KEYWORDS: Indigenous resource, bamboo, eco-friendly, livelihood, bamboo items, industry, enterprises, market,
sustainable development
Introduction
Bamboo or Bambuseae, often referred to as
poor mans timber is one of the fastest
growing plants belonging to the grass family.
Various species of bamboo is found in diverse
climatic zones in the world including East Asia,
Sub Saharan Africa and Latin America. As far
as usage of bamboo and bamboo based
product is concerned, East Asian regions like
china, India, Vietnam, Thailand etc. have comparatively fared better than other regions. North eastern
states of India, which are abundant in many useful species of bamboo, have a culturally rich association
with the plant. The people residing in the region have utilised this plant as per their requirement since
centuries. Assam, one of the states in the region has gradually evolved as a hub for many bamboo based
small scale enterprises. Many villages and small towns across the state rely on bamboo and bamboo
made products for their livelihood (Bamboo culture of Assam, n.d.). The government too has realised
Lecturer, Department of Management, Rajiv Gandhi University of Knowledge Technologies, Nuzvid, Andhra Pradesh-India, Pin:
52120, Contact no: +91-9885202549, Mail Id: u.nabadeka@gmail.com or nabad@rgukt.in

A Comprehensive Study of Bamboo as a Promising Resource for Enterprising in Assam
the potential and started taking policy initiatives for sustainable development of the industry and
promote such eco-friendly products in the international market. However, review of the current
scenario and future prospects of the bamboo based Industry would not be complete without a brief
understanding of the interrelationship between the people and the resource plant available in this
particular geographic region.
The state and the Resource Material
Assam is a beautiful lush green state
geographically located in North eastern part of
India. It is constituted of hills, valleys and fertile
plains on both the sides of mighty Brahmaputra
River that flows across the length of the region.
The region is one of the richest bio-diversity
zones with distinct flora & fauna; it consists of
tropical rain forest, deciduous forest,
grasslands, bamboo orchards & wetlands.
Talking about bamboo plant, the state has a
wide area covered under bamboo plantation
with 51 different species of bamboo available in
the region. It is easily observable that bamboo orchards spread across length and breadth of the state.
The plant, which is of great versatility as a raw material, forms an integral part of lifestyle of the people
residing here. Muli (Melocanna bambusoides), Dalu (Teinostachyum dalloa), Khang (Dendrocalmus
longispatnus), Kaligoda (Oxytenanthera nigrociliata) and Pecha (Dendrocalamus Hamilton-ii) are some
of the species of great economic value (Sadangi. H, 2008). Although, there is no written record
mentioning usage of bamboo and bamboo based products, different people living in the region have
been closely associated with the material. From ancient times, people of Assam are widely dependent
on bamboo to make their houses. There is mention of use of bamboo made products like Jaapi
(traditional Assamese sunshade) since the days of visit by Hiuen Tsang to the region [642-643 AD] (Art
Culture Assam, n.d.). Bamboo has been used for diverse purposes since ancient times till date likes of
construction, furniture, household goods, musical instruments, toys, crafts etc.
Ethnic Groups and Bamboo Usage
Assam consists of numerous ethnic groups
residing within its political boundaries; some of
them are believed to be aborigines by historians
while others to have migrated from nearby
geographical locations and settled down in
search of cultivable land. Most of these ethnic
communities have learnt how to make a living
out of the natural resources available in and
around them. The tradition of bamboo houses
and bamboo craft is very rich amongst these
groups since ages. Today, every household in
Assam uses bamboo and bamboo based products
irrespective of its ethnic identity. Designs of the
products may vary up to certain extent amongst
various groups but the gap is slowly reducing due to
interaction amongst the communities. However, the
cultural association of some of the major communities
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DEKA
with the plant is noteworthy. For example, the Bodo community which is one of the largest and
earliest ethnic group of North east India, are traditionally very well versed in making cane and bamboo
crafts. Most of the Bodo man knows to make basket of various size
and design.
Fishing is an integral part of the Bodo community and the
implements commonly used are mainly two, i.e., Jekhai and Pholo
which are made of bamboo (Ghosh,G.K, 2008).
Dimasha (or
kachari) in cachar hills make baskets and crafts of their design.
Women are expert weavers who use spinnings and weaving
implement partly made of bamboo. They also make bamboo mats,
baskets, fishing traps and other household equipments. In a
similar way, for the Mishing Community, the main purposes of
bamboos are construction of platform houses (chang). Some of
the fishing implements made from bamboo are esap, porang,
dirdang, koliyang,turji, jurki, jambork, saloni, jakoi, tuli etc.
Moreover, the agricultural implements like moi, zuyali, stick
etc. are also made from bamboo. There is a popular saying
amongst the Karbi Community: A Karbi is born with Jintak
(Bamboo split) in his hand and leaves the world holding jintak.
Han-up or bamboo shoots is a major source of food during
scarcity of rice amongst this community. They celebrate a
traditional festival to mark the bamboo shoots harvesting season.
Karbi people use bamboo for making cordage, crafts, fuel, rituals,
food and medicine (Crafts of Karbi,n.d.). The Tai Ahoms have
their own way of catching the fish. They use different kinds of
implements made by themselves from bamboo and cane. It is
interesting to note that the Ahom use bamboo extensively in their
day-to-day life for making their houses, fences, fishing equipments,
musical instruments and for eating as well. The Koch Rajbonshi
community too worshiped bamboo. They use bamboo to cook
traditional food like Baash Pitha. Bamboo fan, mat and bamboo
products for daily hygiene are some of the few usage mentioned in literature for the Koch community.
The Current Scenario
The People of Assam are reliable on bamboo and bamboo made items
for many of their basic needs. Nowadays, bamboo based household
equipments, furnitures, crafts etc. is used extensively across the entire
region. Most of the products are made on cottage and small scale basis
that provides livelihood at the local level. Gradually, this industry has
carved for itself an important place among the handicrafts of the State.
It provides part time employment to the cultivators in their spare time
and full time employment to the few highly skilled artisans who
produce only fine decorative baskets, furniture and mats on a
commercial basis. Since couple of years, many initiatives
have been taken by state & central govt. to transform the
business into a full-fledged Industry. The union ministry of
micro, small and medium enterprises (MSME) , ministry of
Agriculture, Confederation of Indian Industries (CII), All India
Management Association (AIMA), North east development
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consortium(NEDC) are several bodies which have shown concern for the bamboo based
industry(AIMA,MSME 2013).
The crafts, decorative items, furnitures, household
goods etc. are some of the commercial products sold in the
local market and some of these items also fetch
international customers. However, many of the bamboo
made items lack in standard in design and finishing
aspects when compared to international market. The
drawback may be attributed mainly due to usage of time
consuming and cumbersome traditional tools and
techniques.
Tools and Techniques
Most of the tools and equipments used by the artisans for bamboo work
are traditional and manually operated. Some of
these tools like Dao, katari etc. are very much in use
till date. These tools are out dated and make the
production process more tiresome and time
consuming. Moreover the products are also not able
to get desired display and look, and lack in finishing
(Dutta A., 2012). Conversation with artisans and
bamboo workers revealed that there is a hesitation
towards using new equipments or technologies due certain
psychological reasons. Since the workers had been using traditional
tools, they believe that any new machine may not be as comfortable
as the traditional ones. Some of them simply do not want to change
their working kit as they are deeply associated with them since
decades.
Recent developments: Cane and Bamboo Clusters
The recent developments like Cane & bamboo cluster have been a boost up for the entire bamboo
based industry. Several clusters have been identified in various regions like Barpeta, Nalbari, kamrup,
darrang district with an objective to provide new design inputs, provide access to new markets and
strengthen the supply chain. This cluster is constituted of certain number of villages in which skilled and
semiskilled artisans of the region are brought to a common platform and encouraged to improve their
bamboo work. The workers are trained to adopt modern tools and techniques to improve productivity
and design to meet international standard. They are informed about new technologies and schemes in
which they can register and get benefits in return.
The artisans may also take loans under govt. sponsored schemes at subsidised rate and
enhance their business opportunities. The cluster also provides provision for linkages to the
international market and encourages participation of artisans in trade fairs and exhibitions (MSME DI,
2011-12). Many of these clusters have resulted in increase in employment, income and social security of
village artisans. Providing access to local and foreign market and promoting goods made by the workers
in those markets is a major concern for the clusters. This model is gradually adopted by other parts of
region for greater benefit of the society and the economy.
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The Domestic and International Market for Bamboo Based Products

One of the most remarkable changes in the world of business and
market has been the shift from producers market to consumers
market; and the most recent development being the socially
concerned consumer segment. Consumers want products that are
non-harmful to humans, animals and the earth. They want ethically
and locally made products using domestic and sustainable
resources. Bamboo is often seen as one such resource that has the
potential to satisfy the need of this recently emerged consumer
segment globally. During the last 1520 years, Bamboo has developed
as an exceptionally valuable and often superior substitute for wood.
Apart from construction material, people also use bamboo to produce
mats, baskets, tools, handles, hats, traditional toys, musical instruments and furniture. In the food
sector, bamboo shoots are becoming more and more popular. Bamboo has a tremendous potential for
economic, international trade and environmental development. As per a report by National Mission on
Bamboo Application (NMBA) in 2008, the annual market for value added bamboo in India is estimated
at approx. $1.0bn in 2004 which is expected to grow up to $5.8bn by 2015. Several reports expect the
international market to become $20 by 2015 from the currently estimated $10-12 (NMB, n.d.).
Assam handicrafts have a huge domestic & export
market. Most of these crafts are exported across countries
like Japan, Malaysia, Singapore, Thailand, UAE and many
other countries of the world. The lovely works of cane and
bamboo gets huge attraction in international trade fairs
and exhibitions (Assam Handicrafts, n.d.) . The bamboo
crafts of Assam have a variety of products like bamboo
mats, sital pati, baskets of various sizes and shapes,
winnowing trays, sieves, japi, various types of fishing
implements, etc. Items like Chalani (sieve), Kula (winnowing fan), Khorahi (small basket), Dukula or
Tukuri (Big basket), Dala (bamboo tray), Duli (Assamese), Dhol (big measure) are several products made
for the local market. Apart from this, bamboo is used to make various types of fishing implements like
polo, Jakai, Khalai, Dori, Chepa, Paran, Jhuti, Hogra, etc,which are widely used by the local people.
The bamboo and cane crafts of Assam also
include preparing musical instruments that are
extensively designed with intricate curving that needs
dexterity in the craft. Flute, bamboo beater, do-tara
etc., are commonly used musical instruments made
of bamboo. The traditional Bihu dance is not
complete without Gogona & Thoka which are
other musical instruments famous in Assam.
Although, the bamboo products from Assam do not figure significantly in the international market,
many entrepreneurs have started looking forward to opportunities in the global market considering the
export potentiality. Blinds, floor mats, carpets, placemats, sticks/strips, table mats, decorative etc. are
some of the high quality bamboo products which compete with Chinese counterparts in the
international market.
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The Global Scenario for Bamboo Resource and Products

The international market for bamboo based products is highly promising. Producers need to exploit the
opportunities available across the globe in terms of resource availability and skill set. Marketers have
great opportunities lying ahead as many of the developed economies are looking forward to ecofriendly
products and technologies. A quick look at few reliable reports reveals that USA, some countries of
Europe and other developed nations are the major importers of bamboo based products (Muller &
Rebelo, n.d.). Most of these products come from Asian countries. China is the top exporter of bamboo
products with a market share of 46 percent, while the US is the largest Western consumer of Bamboo
with annual Bamboo products imports of $300 million. About 57 percent of the imports are Bamboo
flooring and baskets. In countries of Latin America and Africa, the market is not yet developed in a
commercial aspect. Most of the bamboo based products in those regions is either for local consumption
and export to nearby countries. When it comes to resources, India ranks second in the world in bamboo
diversity with 136 species, while China with 300 species is leading in genetic diversity of bamboo. Out of
this, 58 species belonging to 10 genera are found in the North-Eastern region. India has the largest
bamboo forests in the world. Two-third of the growing stock of the bamboo in India is in the NorthEastern States. About 2.5 billion people in the world depend economically on Bamboo and the
international trade in Bamboo amounts to between $5 and $10 billion (FAO, 2005). National and local
trade is likely to be a few times higher. However, reliable statistics are still lacking. Most of the
economic activities related to Bamboo are not recorded officially as it is often traded within a country
and within the informal economy.
Role of Central and the State Government
The bamboo and cane crafts of Assam have attained great importance in the past few years as this
small scale household industry possess the potential to transform the socio-economic condition of
people associated with it. The steps taken by the government and the policies made in favour of the
industry would encourage more and more artisans to come forward as entrepreneurs and generate
employment. In a step towards encouraging bamboo based industry, the Ministry of Agriculture,
Government of India, has recently launched the National Bamboo Mission. Under this Mission, it is
proposed for plantation of selected species of bamboo in the State, in an area of 176000 Hectare, as a
raw material for bamboo based industry. The National Bamboo Mission is envisaged to promote the
growth of the bamboo sector in the country through area based regionally differentiated strategies.
The area under bamboo will be increased by planting appropriate varieties of bamboo to
enhance its production and productivity, to promote marketing of bamboo and bamboo based
handicrafts, to generate employment opportunities for skilled and unskilled persons, especially
unemployed youths. Another remarkable initiative is Bamboo Technology Park, a section 25 company,
is promoting a project for setting up common infrastructure and facilities for the benefit of Bamboobased industrial cluster at Chaygaon, near Guwahati, under Industrial Infrastructure Up-gradation
Scheme (IIUS) launched by the department of Industrial Promotion and Policy (DIPP), Government of
India. Availability of funds for development of any industry is crucial. In a step towards making starting
capital accessible for entrepreneurs, credit by banks to SME Sector in North East has been raised by
50%; current year flow is Rs. 2500 crore and expected to touch Rs 3800 crore next year for Assam. This
recent move by RBI would definitely encourage small industries like bamboo crafts and others to exploit
the opportunities (Outlook India, 2013).
The Government of Assam has also taken several steps in this direction; the vision bamboo
under Bamboo and Cane Policy-2005was one such prominent move. It has decided to encourage,
promote and support the development of the bamboo sector in a comprehensive manner, through a
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multidisciplinary multi departmental and multi-dimensional integrated approach to provide economic

benefits to the people of the State. It also ensures enhancing employment and income generating
opportunities using bamboo and cane as the prime resource. The government has announced skill up
gradation and training, market analysis and support for the artisans engaged in bamboo and cane craft
of Assam. Govt. of Assam, Industrial policy 2008, Assam Financial Corporation, a premier term lending
institution of the North East, has been providing credit and other financial services to Micro, Small and
Medium Enterprises (MSME). Bamboo based industry, has been declared as one of the thrust area for
financing. The most noticeable move is the development of bamboo clusters in collaboration with
MSME Development Institute and NGOs in several small towns in the state. The clusters have already
brought significant changes in the employment level and income in rural and semi urban parts of the
state (Das & Das, 2011). Overall, the government of Assam is in a rapid rate of promoting Bamboo
based Industries. Policies are also appearing to be in favor of the entrepreneurs in the field.
Organisations like National Bamboo Mission, Cane and Bamboo Technology Centre (CBTC), North East
Development Finance Corporation ltd. (NEDFi), Building materials and technology promotion council are
also providing support for the new ventures (Bamboo and cane policy, 2005)
Conclusion
Bamboo plant, once a resource material for ethnic tribes in
Assam, has gradually become an integral part of every
household in the region. Whether it is used as a household
good, musical instrument or simply a fence, it is observed
everywhere in the state irrespective of socio-economic
differences, origin and identity of the people. The gradual
evolution of the traditional bamboo crafts work as a
potential industry may be attributed to its abundance and
cultural linkages with the people residing in the region.
Some of the recent developments in the bamboo based
industry involve promotion of value added products in the local and international market. The domestic
market is already supplied with bamboo made items while the international market is yet to be
exploited by bamboo items from Assam. The state, being one of the richest regions in terms of bamboo
variety and production, opens up new avenues for many entrepreneurs. Several initiatives have already
been taken by the state and the central government, some of these initiatives has already started
showing desired results. Understanding the bottlenecks, developing the right infrastructure and
overcoming the supply chain constrains through innovative policies would be the key for the state to
gain competitive advantage in the international market.
References:
Bamboo and Cane Culture of Assam (n.d.), retrieved from http://ignca.nic.in/craft152.htm

Sadangi, H.C. (2008),Emergent North-East: A way forward, Retrieved from
http://books.google.co.in/books?id=uLfE8HGwdIMC&pg=PA104&lpg=PA104&dq
Art culture of Assam (n.d.), retrieved from
http://online.assam.gov.in/c/journal/view_article_content?groupId=10156&articleId=107778&version=1.
1
Ghosh, G.K. (2008), Bamboo: The wonderful grass , retrieved from
http://books.google.co.in/books/about/Bamboo_The_Wonderful_Grass.html?id=FH4Bb7dD4qYC&redir_e
sc=y
Crafts of Karbi Anglong (n.d.), retrieved from http://www.indianetzone.com/64/crafts_karbi_anglong.htm
Unleashing Indias MSME potential: A new vision(2013), AIMA 4rth national MSME convention, Executive
summary
Dutta, A. (2012), Bamboo and Woodcarft: a need assessment survey report
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Annual report (2011-12), MSME Development Institute

National Bamboo Mission (2008), Department of agriculture and cooperation, India , Retrieved from
http://agricoop.nic.in/bamboo/bamboomission.htm
Assam Handicraft (n.d.), http://www.camelcraft.com/assam-handicrafts.html
Muller & Rebelo, (n.d.), Bamboo Worldwide: The current market and future potential, EcoPlanet Bamboo
World Bamboo Resources(2005), FAO, retrieved from
http://www.fao.org/docrep/010/a1243e/a1243e00.htm
Banks to Increase Credit for SMEs, Outlook India (Feb, 2013), retrieved from
http://news.outlookindia.com/items.aspx?artid=789165
Das, R. & Das, A. (April 2011), Industrial Cluster: An approach for Rural Development in North East India,
International Journal of Trade Economics and Finance, vol.2,no.2
Bamboo & Cane policy of Assam, Official website (2005) ,Govt. of Assam , retrieved from
http://assamgovt.nic.in/policies/bamboo&cane_policy.asp
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Global Energizing Models of the Eco-Entrepreneurship:

A Success Saga
G. V. SATYA SEKHAR
ABSTRACT: This paper discusses about various financing issues relating to eco-entrepreneurs, which a
convergent model of social entrepreneurs and green entrepreneurs. The willingness to engage with the
social finance sector will grow as the social enterprises themselves offer nearer market rate returns.
Without adequate investment, there is a risk that the high expectations of the social enterprise sector to
help meet societys needs will not materialise. To date, despite interest, there appears to be little
engagement from the City and institutional investors to provide the financial backing required and very
little actual activity. The social finance sector is self-contained.
KEYWORDS: Social Entrepreneurship, Eco-Entrepreneur and Financing Models, Green Funds, Green Investments
1.0. Introduction:
Eco- Enterprise Model or Social Enterprise Investment offers a blend of financial and social returns,
which benefits its customers, investors and society as a whole. The precise blend will vary according to
the type of investment opportunity. 1 Just as products need to be more flexible, so do the social
enterprises themselves. Generally, the supply of bankable propositions has been seen as inadequate
by investors a shortage which cannot be easily corrected through product engineering or packaging.
However, there is evidence that this supply is growing. Intermediaries have a substantial role to play in
helping investor and investee meet common aims. For example, Atira Womens Resource Society
received a grant from the Enterprising Non-profits Program and matched this with funds of their own to
hire the Institute for Media, Policy, and Civil Society (IMPACS) itself a social enterprise to develop
their marketing plan.
24.0. Socially Responsible Investing general description
Socially Responsible Investing (SRI) is nothing but investing in green mutual funds and alternative
energy mutual funds. The companies that green mutual funds invest in usually do their best to ensure
that their day to day operations have as little negative effect on the environment and produce as little
pollution as possible. Many of these companies also provide products and services that are aimed at
making the world a cleaner, greener place. Value of clean energy funds or green funds (like Allianz
RCMs Eco Trends fund, European Clean Energy Fund of Swiss Re) is increasing. By Sept, 2007, 174 of
such funds have been managing portfolios totaling $22.5 billion.2 Going green is not an option
anymore it is a necessity. The Infrastructure Industry has increasingly become more conscious about
Dr. G.V.SATYA SEKHAR, MBA, Ph.D is Asst. Professor and Coordinator-MBA Programme at Centre for Distance LearningGITAM University, Andhra Pradesh. India. Email: gudimetlavss@yahoo.com
1
Investor Perspectives on Social Enterprise Financing- A Report prepared for the City of London Corporation, City Bridge Trust,
and the Big Lottery Fund by ClearlySo, Published July 2011- London
2
Stadru Chakrborty, The Role of Financial Institutions in Mitigation, Green Energy- The Journal of World Institute of
Sustainable Energy, Vol.4, No.2, Mar-Apr, 2008.
Global Emerging Models of the Eco-Entrepreneurship: A Success Saga
adopting eco-friendly practices in both residential and commercial buildings. A large number of
infrastructure companies have responded to issues relevant to environment degradation by adopting
energy-efficient technologies. Many infrastructure projects are being embedded with environmentfriendly raw materials and a growing number of infrastructure companies are consulting
environmentalists. Many companies have started to invest more in R&D to address green infrastructure
issues including improving designs in water and energy related services3. According to the UN
Environment Programmes (UNEPs) latest report4, Global Trends in Renewable Energy Investment
2011, a record USD$211 billion was invested into the renewable energy industry last year.
1.2. Investing in Green Stocks
The market for green stocks is steadily gaining in popularity and the investors in solar and wind stocks
have started making handsome profits over the past few years in India. This shift to green stocks may
principally be due to the fact that people are convinced with the need for alternate sources of energy
due to the ever escalating oil prices and the perils of climate change. More and more consumers are
expressing concern for protecting the environment and many business houses have made it their
mission to contribute to development of alternative energy.
2. REVIEW OF LITERATURE:
Matthew Haigh and James Hazelton (2004)5 study on the market share of SRI funds in the regions
where they are most developed, being Europe, the U.S. and Australia, to show that this claim is unlikely
to eventuate. SRI funds also commonly claim that they will outperform conventional active mutual
funds. That the economic performances of both are similar might be explained by their similar portfolio
compositions. Their paper makes an innovation in the SRI literature by adopting a legitimacy framework
to explain the continued presence of SRI funds. To achieve desired social and environmental outcomes,
SRI funds are urged to address issues at a more systemic level. A suggested mechanism is the collective
lobbying of corporations and, especially, governments.
Katherina Glac (2009)6 states that Over the past two decades, the phenomenon of socially
responsible investing has become more widespread. However, knowledge about the individual socially
responsible investor is largely limited to descriptive and comparative accounts. The question of why do
some investors practice socially responsible investing and others dont? is therefore still largely
unanswered. To address this shortcoming in the current literature, this paper develops a model of the
decision to invest socially responsibly that is grounded in the cognition literature. The hypotheses
proposed in the model are tested with an experimental survey. The results indicate that the framing of
the investing situation influences the likelihood of engagement in socially responsible investing and how
much return the individuals are willing to sacrifice when choosing socially responsible over conventional
investments. The study does not find support for a relationship between expectations about corporate
social responsibility and the likelihood of engagement in socially responsible investing.
The Economic Times is organizing Infragreen 2011

Becky Stuart, Green energy investments rise by 32 percent; boosted by European rooftop PV, 08. July 2011 | Markets &
Trends, Global PV markets, Research & Development
5
Matthew Haigh and James Hazelton, Financial Markets: A Tool for Social Responsibility? Journal of Business Ethics, Volume
52, Number 1 / June, 2004
6
Katherina Glac, Understanding Socially Responsible Investing: The Effect of Decision Frames and Trade-off Options, Journal of
Business Ethics, Volume 87, Supplement 1 / April, 2009
4
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Cline Louche (2009)7 explores the investors perspective of the field of corporate social
responsibility and more specifically on the practice of Responsible Investment (RI). The aim is threefold:
firstly to provide a general background on Responsible Investment definition, history, actors and
trends, secondly, to give an overview of the existing practices of responsible investment and its key
characteristics and finally to discuss some critical issues that may shape the future of RI. RI is still a
developing and changing activity which is expected to keep growing in the future. But responsible
investors can play a major role in transforming the concept of investing by integrating social and
environmental dimensions whilst simultaneously pushing up the issue in a companys CSR agenda.
Greig A. Mills8 paper empirically examines the financial performance of a UK unit trust that was
initially conventional and later adopted socially responsible investment (SRI) principles (ethical
investment principles). Comparison is made with three similar conventional funds whose investment
objectives remained unchanged. Analysis techniques employed in previous studies find similar results:
mean risk-adjusted performance is unchanged by the switch to SRI, with no evidence of over-or underperformance relative to the benchmark market index by any of the four funds. More interestingly,
changes in variability of returns over time are also modelled using generalised auto-regressive
conditional heteroscedasticity models, not previously applied to SRI funds so far as is known. Results
show a temporary increase in variability of returns, followed by a return to previous levels after around
4 years. Evidence shows the increased variability to be associated with the adoption of SRI rather than
with a change in fund management. Possible explanations for the subsequent reduction in variability
include the spread of corporate social responsibility activities by firms and learning by fund managers.
In addition to reporting on a previously unobserved phenomenon, this paper raises questions for
further research.
3.
GLOBAL ENERGING MODELS FOR ECO- ENTRPERENEURS:
3.1.
Traditional Philanthropy
Grants can be seen as a source of equity as, once granted, the grantor has little or no control over the
money except for requiring a final report. Increasingly, funders are describing grants as investments
which provide a social, rather than financial, return. Instead of using the term grant, funders are
tending to speak about community investments or investing in the development of social capital.
Traditionally grants are given to support social programs, community development, community
economic development, or organisational development. Many grants cannot be used to fund activities
directly related to social enterprise. However some, while they cannot be used for activities directly
related to developing social enterprise, can be used for building the capacity of the organisation in such
a way that skills and expertise required start a business venture are developed. Examples of these
grants are:
Partners in Organisational Development (POD) grants available through the Centre for
Sustainability. These include POD, ArtsPOD, and EnviroPOD.
The Community Economic Development Technical Assistance Program (CEDTAP) funded by the
McConnell Family Foundation and Carelton University supports early stage and mature community
economic development organisations.
Cline Louche, Corporate Social Responsibility: The Investors Perspective, Springer Berlin Heidelberg, ISBN978-3-642-02631-7
(Print), 2009
8
Greig A. Mil. The Financial Performance of a Socially Responsible Investment over Time and a Possible Link with Corporate
Social Responsibility, Journal of Business Ethics, Volume 63, Number 2 / January, 2006
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3.2.
Venture Philanthropy
The Peninsular Community Foundation, San Francisco claims to have first used the term venture
philanthropy in 1984. It is a confusing area, in fact, The venture philanthropy field is so diverse and
unsettled it resembles the Wild West. Examples of venture philanthropists are:
BC Technology Social Venture Partners (BCTSVP), a charitable foundation created by individuals in

BCs technology industries, which supports innovative non-profit groups serving children, women at
risk, and people living in Vancouvers Downtown Eastside. BCTSVP provides a combination of
grants, technical expertise and entrepreneurial acumen. An example of venture which is working in
partnership with BCTSVP, is the social purchasing portal developed by Fast Track to Employment.
This portal was developed to encourage businesses to adapt their purchasing and hiring practices to
include a social value component, specifically by hiring companies that participate in FTEs program.
Participating companies commit to buying from businesses that hire graduates from FTEs
Downtown Eastside training network, and to hire qualified applicants from that pool. In addition to
significant grants, BCTSVP contributed technical assistance in system design, business concept
development, policy and implementation, marketing and promotion, and web site design and
housing.9
A partnership, between the Vancouver Foundation, Vancity Community Foundation, Coast Capital
Savings, United Way, and the federal government through Western Economic Diversification, has
created the Enterprising Non-profits Program (ENP).
3.3.
Equity Investment for Social Enterprise
3.3.1
Equity Investment
Equity investment is the money an investor puts into the business in return for an ownership interest.
Equity investors can be active or passive. Passive investors are those who are willing to take little part in
the management of the company. Active investors expect to play a hands-on role in the running of the
business. Investors put their money into a business because they expect it to do well, however if there
is no profit the shareholders do not make any money. While loan capital requires interest payments
regardless of the profitability of the business, equity capital does not. For this reason, conventional
businesses raise a significant part of their capital needs in the form of equity rather than through debt.
3.3.2
Venture Capital
Venture capital is needed by enterprises that are unsecured and have unproven earnings. Venture
capital often comes from a pool of investors who are willing to accept high risks in exchange for a high
rate of return. Conventional venture capital companies look for promising start-up or expanding
businesses which may be able to grow quickly and produce significant profits. Some ventures will
succeed, some will fail, and venture capitalist companies want to maximize the chances of success.
Therefore, they are active investors and want to play a major part in the strategic management
of companies in which they invest, typically by becoming directors. Venture capitalist companies also
look for exit strategies that are they look for ways to extract their investment after a few years and
move on. When the relationship works, the close involvement of a venture capital company with a new
or expanding business can help the business. However, not every relationship between an entrepreneur
and a venture capital company works well. Applying the venture capital concept to social enterprise is
very new, emerging at the end of the 1990s. Renewal Partners is an example of a venture capital
9
http://www.coastcapitalsavings.com/documents/ProgramDescriptionFeb05.pdf
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company investing with the goal of long-term preservation and sustainability in British Columbia. Their
primary focus is expanding consumer access to socially responsible, solutions-oriented services and
products.
3.3.3
Angel Investors and Social Venture Capital
The name angels was originally given to those who were prepared to help the theatrical profession by
investing in new productions. Angel investors are private investors who are willing to put their money in
to high-risk ventures. Angel investors often form a pool of investors who are willing to accept high risks
in exchange for a high rate of return; however, they can also be individual investors. Surrey Delta
Immigrant Services developed an ESL (English as a Second Language) school that would serve as a
revenue diversification strategy. To do this SDISS created a separate corporation. Friends and
supporters of the Society the Societys angels purchased preferred shares in denominations of
$1000, providing the Society with significant equity.
4.0
Conventional Debt Financing
Conventional debt financing is sometimes referred to as senior debt as it is the debt that is repaid first
if there is a business failure.
4.1.1
Overdraft protection
Overdraft protection covers shortfalls in the business account up to an approved limit. Interest is
charged only on the amount borrowed and the rates are competitive. Monthly administration fees may
be charged.
4.1.2
Credit cards
Business credit cards provide short-term loans for smaller purchases. Interest rates are usually high but
there is no interest if the balance is paid off every month. Many small business people rely extensively
on credit cards when they are developing their businesses.
4.1.3
Operating Line of Credit
An operating line of credit is a loan with a set limit. The business can draw on the line of credit when
needed. Interest rates are lower than most credit cards and some loans, and interest is only paid on the
outstanding balance. There are no fixed payments except for a monthly fee and interest. The business
has the option of paying down the loan as it can afford to do so. Property or other assets are usually
required to secure an operating line of credit. Potluck Caf and Catering obtained an operating line of
credit from Vancity Savings Credit Union.
4.2
Debt Financing Secured by Socially Responsible Investments
New ways of investing are making it possible for people to invest their money so that it will have
maximum social and environmental impact. Some of these new investment tools, such as ethical funds,
are not available to social enterprise as they are invested in public companies. For Example: Vancity
offers two types of Shared Growth Term Deposits Cashable or Fixed Term. Vancity manages these in
such a way that they return social, environmental and economic benefits to local communities. In
addition, the investor can receive a market rate of return or can choose any rate below market. The
interest they give up is pooled and then used to provide access to credit, or reduced interest on loans
for local community groups.
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5.0.
Community Debt Financing
Community debt financing is geared primarily towards high-risk ventures in rural areas. The exception is
Partners in Community Help (PEACH) in the Downtown Eastside of Vancouver which offers a form of
community debt financing. Community Futures Development Corporations (CFDCs) throughout rural BC
provide business counselling and make loans of up to a maximum of $125,000 to new and existing
businesses. Loans received from a CFDC are fully repayable at competitive interest rates. Because the
boards of CFDCs come from the community, the loans they make reflect local knowledge of the needs
of the community. CFDCs are becoming increasingly aware of the financing needs of social enterprise;
however, some boards are much more conservative than others. In 2005, CFDC of South Fraser
obtained funds from Western Economic Diversification to set up a centre for social enterprise in the
Abbotsford area.
6.0.
A Success Saga Chadra Sekhar10
An economist turned eco-entrepreneur Chandrasekhar Hariharan, a chartered accountant by

education; he also did masters in econometrics and corporate communications from PennState,
Harrisburg. He worked as a business journalist with reputed newspapers for a few years and also was
with some non-government organisations, who has been conferred Green Builder Extraordinaire, as
he is way ahead in foreseeing the lurking danger due to over exploitation of natural resources. Chandra
Sekhar has designed and built houses for hundreds of people, who at present work in Biodiversity
Conservation (India) Limited (BCIL).
Chandrasekhar Hariharan turned into an eco-entrepreneur who has presided over national and
international projects on water, energy and green buildings since 1989. Since 1995, he has been
creating community-based, sustainably developed residential enclaves through BCIL. In the last three
years, BCIL has won eight awards from six nations. Since 2002, the company has won 14 awards from
Indian and global institutions for leadership in sustainable design. Chandrasekhar Hariharan is a
recipient of the ADB Water Champion award in 2006. In February 2010, he was conferred the
distinguished Udyog Rattan Award for Excellence by the Institute of Economic Studies, New Delhi.
Green Builder Extraordinaire
Buildtech 11 is conferring Green Builder Extraordinaire on Mr. Chandra Sekhar on January 28 in
Mysore. He says that, this will be the last generation to use COGM (coal, oil, gas and minerals) and
exhaust them. We have exhausted COGM, which took 2 billion years to form in just 60 years. My aim is
to remove COGM from H3O (hotels, hospital, homes and offices) to become sustainable. Apart from
saving our planet, one can even save money and earn peace of mind by becoming self-sustainable. His
study reveals that, If a family of four can save at least 35,000 litres of water every year by using
aerators and flow restrictors on taps in energy-efficient houses we build. We discourage installation of
bathtubs as it drains a lot of water. The case is the same with expenditure on power due to use of LED
and such energy-efficient lights. So, even if our houses seem marginally expensive than the ones built
by other builders, our houses are a good investment in the long run.
7.0. Conclusion
This paper has made a focus on global models of financing eco-entrepreneurs, in general and green
investments and social entrepreneurs financing options in specific. At the end a small success saga of
Mr. Chandra Sekhar, will give inspiration to upcoming eco-entrepreneurs. Eco-enterprising has been
10
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Deccan Herald, 22 Nov, 2012
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SATYA SEKHAR
gaining popularity recently as more and more investors are starting to think about the environment.
Increasing oil consumption, global warming effects, increasing rates of natural disasters, and similar
other factors are now leading many investors to think that if we dont start taking care of the
environment, this Earth may not be a very nice place in the near future.
References:
Becky Stuart, Green energy investments rise by 32 percent; boosted by European rooftop PV, 08. July 2011 |
Markets & Trends, Global PV markets, Research & Development.
Flona Harvey, http://www.guardian.co.uk/environment/2011/jul/07/europe-green-investment
Matthew Haigh and James Hazelton, Financial Markets: A Tool for Social Responsibility? Journal of Business
Ethics, Volume 52, Number 1 / June, 2004.
Katherina Glac, Understanding Socially Responsible Investing: The Effect of Decision Frames and Trade-off
Options, Journal of Business Ethics, Volume 87, Supplement 1 / April, 2009.
Cline Louche, Corporate Social Responsibility: The Investors Perspective, Springer Berlin Heidelberg, ISBN9783-642-02631-7 (Print), 2009.
Greig A. Mil. The Financial Performance of a Socially Responsible Investment Over Time and a Possible Link
with Corporate Social Responsibility, Journal of Business Ethics, Volume 63, Number 2 / January, 2006.
http://www.tatagreenbattery.com/aboutus.html
http://www.carazoo.com/article/2003200808/Green-Cars-are-need-of-the-hour
http://www.greenmoneyjournal.com/index.mpl?newsletterid=51
http://www.nfosigw.gov.pl/en/priority-programmes/green-investment-scheme
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JANE HENLEY
ABSTRACT: Around the world, sustainability is emerging as the 21st centurys revolution joining the
likes of the industrial and information technology revolutions of the past two centuries as
organisations begin to understand its potential as a long-term business opportunity. Large corporations
have been quick to recognise that simply operating from green buildings can slash energy consumption
and costs by as much as two thirds. But thats just part of the story. Smart organisations are embracing
sustainability to deliver on a range of other priorities from attracting and retaining staff and boosting
productivity, to demonstrating corporate social responsibility and building brand equity. Small-tomedium organisations (SMEs), however, have been slower off the mark.
KEYWORDS: Green Economy; Green Building; Small and Medium Enterprises
Around the world, sustainability is emerging as the 21st centurys revolution joining the likes of the
industrial and information technology revolutions of the past two centuries as organisations begin to
understand its potential as a long-term business opportunity.
Globalised workforces and supply chains, low-cost imports, rising wages bills and increasing
energy prices are putting pressure on companies both big and small to reduce their costs and
increase their efficiencies.
Large corporations have been quick to recognise that simply operating from green buildings can
slash energy consumption and costs by as much as two thirds. But thats just part of the story. Smart
organisations are embracing sustainability to deliver on a range of other priorities from attracting and
retaining staff and boosting productivity, to demonstrating corporate social responsibility and building
brand equity.
Small-to-medium organisations (SMEs), however, have been slower off the mark. In these
organisations, property decisions are typically made by the chief executive or chief operating officer
people who are generally not building professionals, and who know very little about why it may be
beneficial to rent green space.
And yet, while CFOs may not be interested in technical information about photovoltaics or wind
turbines, they should understand why the physical characteristics of office buildings and indoor
environments can influence worker productivity and occupant health and well-being, resulting in
bottom line benefits for businesses.
Any business owner can tell you that staff salaries and expenditures make up the bulk of
operational expenses associated with occupying an office building. Indeed, more than 85 per cent of
Jane Henley, Chief Executive Officer, World Green Building Council
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total workplace costs are spent on salaries and benefits, compared to less than 10 per cent on rent and
less than one per cent on energy.
It is not surprising, then, that large corporations with thousands of employees on the payroll
are increasingly interested in how green building design can positively impact people. Some leading
businesses are now shifting their thinking from how much will green building cost my business to how
much will not investing in green building cost my business?
Research suggests that businesses gain greater financial benefit from making incremental
improvements to productivity, health and wellbeing, than they do from more efficient resource use in
building operations. Studies have found giving office workers individual temperature control leads to
measured productivity gains of up to three per cent. Thats just one measure! Improved ventilation
can enhance productivity by up to 11 per cent, while better lighting has been found to boost
productivity by as much as 23 per cent. Many more studies link access to the natural environment
through daylight and operable windows to individual and organisational on productivity, such as
increased retail sales. One study found a 40 per cent increase in sales at a 73-store retail chain in
California simply due to daylighting.
Building design that contributes positively to human wellbeing and performance is increasingly
forming part of many corporate strategies to attract and retain workers. In addition, the building itself
may act as a symbol of the corporations environmental and social performance and be a powerful
attraction for potential employees.
A Johnson Controls survey of people aged 18 to 35 in the United States, UK, Germany, India and
China found that younger generation employees want evidence that their employers are going beyond
the minimum levels of environmental compliance. In fact, 97 per cent wanted to work in a greener
office.
The Colliers International 2012 Office Tenant Survey, which assessed 300 decision-makers
leasing commercial property, representing 5.5 per cent of Australias total office space, found that
attraction and retention is now firmly linked with the greenness of a workplace. Simon Hunt, Colliers
International Managing Director of Office Leasing, says that workers want to be able to say they work
in a green building. In fact, 95 per cent of tenants said they wanted to occupy a sustainable building,
up from 75 per cent two years earlier.
The story doesnt end there. A 2008 Deloitte study of companies that had undertaken a green
retrofit found that 93 per cent were more able to attract talent, with 81 per cent reporting greater
employee retention. Another study from the Pacific Northwest National Laboratory in the United
States found a green upgrade directly decreased turnover by 60 per cent, and absenteeism dropped
from 96 hours per person to 45 hours per person.
The bottom line is simple: in a tough economic climate, getting the most out of your employees
is vital for any SME and choosing a green building is not just about saving on energy cost, but about
tapping in to a raft of benefits that can mean the difference between surviving and thriving.
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SUDHIR SOUNDALGEKAR
ABSTRACT: Indian Retail Sector is being the second largest employer contributing GDP after agriculture
where Organised Retailing is fastest growing sectors to reach USD 200 billion by 2020. Here the
challenge remains same for all i.e. ever rising power tariffs and power Scarcity; hence we see a huge
opportunity to save Power now and Reduce CO2 footprint by all retailers. Shoppers Stop with a
Leadership in Sustainable initiatives in Retail will definitely encourage other retailers through Retail
Association of India having 900 Retail Companies to strive for Eco Friendly Practices as a Discipline
KEYWORDS: Retail Sector; Energy Saving; Green Practices; Innovative Green Practices
Shoppers Stop is the largest retail chain having presence of 65 department stores in 26 cities till 1st
November 2013, having a total built-up area of 3.40 million sq. ft. with a gross retail turnover of 2,500
million FTY 2012-13 and 1,400 million Till H1 2013-14. It has a strong loyalty program having 3 million
loyal members contributing 71% of sales and 4.8 million Facebook fans with well diversified portfolio of
bridge to luxury brands to satisfy consumers.
Everyone is aware of our Mother Earth who is exhausted due to issues like air-water-land
pollution, deforestation & industrialization creating Global Warming hence destroying the environment.
To save our earth globe against these effects Shoppers Stop has been executing innovative eco-friendly
practices since 2007 with the mission to conserve energy. With the formulation of energy
management policy the in-house team evaluated opportunities available, to advocate 3Rsreducereuse-recycle and took initiatives which were purely business driven to improve bottom line; before any
government mandates.
Primarily the opportunities were studied to reduce electrical consumption on lighting-HVAC,
wastage in paper, packaging, and travel; to reuse solar power, old clothing-fixtures and water; to
recycle e-waste, shopping bags, to introduce eco-friendly products against ozone depletion and own a
cause.
Our first initiatives was to reduce unit consumption in power where we installed central energy
monitoring systems to check consumption pattern of stores where we are proud to be the leaders and
first retailers in India to install this system. We have installed variable frequency drives on airconditioning and using of eco-friendly refrigerant in chillers approved by ASHRAE & ARI. LED lights are
installed replacing traditional tube lights. An environment friendly polarized refrigerant oil additive is
applied for ductable air-conditioning, which clears flux deposits in refrigerant tubes thereby increasing
the lubricity in the system enhancing the compressor efficiency & life.
Second initiative was to Reuse Solar Power where we harvested sunlight by installing Sun Pipe
system which maximizes the concept of Renewable Energy by reflecting, intensifying sunlight & even
Sudhir Soundalgekar Customer Care Associate and Vice President Lifestyle, Specialty & Energy Projects, Shoppers Stop Ltd
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normal daylight, down through a pure silver base mirror-finish aluminum tube. This system is effective
in both sunny & overcast conditions. For the first time in Retail sector installation of Solar Power panels
of 30 KW capacity was executed successfully which is a limitless supply of clean, safe, reliable,
maintenance free, cost saving, long life & renewable energy till Sun shines. The initiative demonstrates
our leadership in the Green Power category. We have reused water from Sewage Treatment Plant for
air-conditioning purpose and harvested rain water as well.
Third initiative was to Recycle Electronic Waste where we engaged with a professional company
for recycling of electronic waste in an organised manner employing necessary technology &
methodology. We had recycled POS machines, scanners, desktops, printers, modem, servers, laptops
and ups to save harmful landfills. Waste & left over materials post project execution were reutilised for
creating infrastructure at underprivileged schools. As part of Recycling measure we introduced Back to
Earth merchandise range in Home products made of eco-friendly material, chemically untreated
cotton, bamboo, jute & dead wood. Each vendor provides certification for using dead wood to
manufacture goods and also plants trees maintaining nature.
We engaged our Project Vendor Partners to carry out energy conservation, reduce wastage at
individual level & making efforts sustainable towards Cleaner & Greener Environment. We have shared
knowledge with our employees and group companies through intranet to collate more thoughts and
ideas to support the initiative.
As a result of this systematic approach we could save energy of 6 million units equivalent to
63 million. A Capex of 79 million, paper saving worth 1.84 million, water saving of 1,500 KL was
achieved with a business of eco-friendly merchandise of 37.9 million p.a. Here we are proud to
declare a reduction of Carbon Footprint by 10.2 MT. As a reward of these efforts we received few
accolades for quality & innovation in India and internationally as well.
Finally, I would like to say that Indian Retail Sector being the second largest employer
contributing GDP after agriculture where Organised Retailing is fastest growing sectors to reach USD
200 billion by 2020. Here the challenge remains same for all i.e. ever rising power tariffs and power
scarcity; hence we see a huge opportunity to save power now and reduce CO2 footprint by all retailers.
Shoppers Stop with a leadership in sustainable initiatives in retail will definitely encourage other
retailers through Retail Association of India having 900 retail companies to strive for ecofriendly
practices as a discipline.
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Role and Relevance of Business Incubators in

ICT led Global Educational System:
Case for Eco-Enterprise Village
P. Koshy
ABSTRACT: Business Incubators (BIs) are businesses aiming at nurturing and establishing other
businesses. They are considered to be an excellent tool for Small and Micro Enterprises (SMEs)
development. Targeted assistance at small entrepreneurs & start-up businesses- help them grow and
graduate to mature enterprises. It is important to impart real training in starting, managing, making
profit and pursuing the growth of enterprises & ventures that a youth entrepreneur could launch. In the
knowledge economy, BIs can be real learning centres. Also, technological and academic oriented
knowledge & literacy is not the only skill required for attaining success, set-up a business or getting a
well-paying job in the new knowledge based global economy. But what is required are a set of skills
called 21st century skills, which can be well delivered through BIs, when they are turned as educational
centres. The paper also presents a BI model, which has an objective of building businesses with a
strategic orientation towards environment and sustainable development. The BI design presented is
called as Eco-Enterprise Village.
KEYWORDS: Business Incubators; Micro, Small and Medium Enterprises; Information & Communication
Technology; Education and Training; Eco Enterprise Incubator
The concept of a BI is very simple and appealing. A business incubator is something like a premature
infant incubator in a paediatric ward. However, the paediatric incubator attempts to nurse a premature
infant baby, so that it may survive its own. Whereas a BI nurtures a company, which is at its infancy, to
a stage till, it could successfully stand-alone and survive in the market place. (White, 2006) As the
phrase itself implies, BIs are programmes intended to help small businesses get off the ground.
According to Antal Szabo, former UN Regional Advisor & Scientific Director ERENET, Business
Incubators are businesses aiming at nurturing and establishing other businesses. (Szabo, 2010) They
are multitenant facility providing affordable space and an environment that promotes the growth of
small companies. They provide both services and rental space to start-up companies. The services
typically include administrative help, consulting, and referral. Incubator programmes are managed both
by public and private agencies.
BI programmes are often called as new entrepreneur creation projects or new enterprise
development programs. They help develop new entrepreneurs and enterprises as well as provide
support to start-ups businesses to survive and be in the business on a sustainable basis. (Bayhan, 2006)
Some of them have been built upon a kind of real estate business model. A large area of office space
between 30,000 to 50,000 sq. feet is what is required, to house up to 40 start-up businesses. A number
P. Koshy, Director and Editor (Periodicals) at International Society for Small and Medium Enterprises (ISSME), India
www.ijsme.com
Role and Relevance of Business Incubators in ICT led Global Educational System: Case for Eco-Enterprise Village
of additional revenue generating activities within the BI can also be planned. They include education &
training programs; networking event; exhibitions etc. apart from gains from equity partnership. Present
paper explores how business incubators can be designed to deliver educational & training programmes
that would meet the requirement of knowledge economy needs by suitably preparing youth to face the
challenges of contemporary global market.
Why Business Incubators needed in the information economy?
Within the framework and compulsions of the global market, it is almost impossible to accomplish the
sheer number of tasks that need to be accomplished in the time frame available today for the start-up
businesses. Successful entrepreneurs of the past several decades shows that they did not need
incubators to come up, grow and diversify. Great entrepreneurs of yesteryears had an advantage of
time, which is not available in todays information economy which is led by various components of
Information and Communication Technology (ICT) which is faster. Challenge before an entrepreneur is
to make claim in the market space, build a brand, and launch a company at the earliest in nanoseconds.
There is no space for much experimentation. So how does an entrepreneur with a great idea accomplish
this? Looking for help from a successful incubator is a solution. Whether it is office space, back office
support, packaged finance, key personnel, marketing plans or leveraging investor relationships and past
success; an incubator is essential to the current ICT led information economy. Traditional companies
could always use the services of lawyers, agents, accounting firms, consulting companies and other
services. Needs of the companies in the new economy are perhaps slightly different and require an
even greater specialization and knowledge. Packaged services to those desirous start-up enterprise
clients have thus emerged through business incubators. (Brandt, 2000) Here the definition offered by
Antal Szabo becomes relevant that BIs are businesses aiming at nurturing and establishing other
businesses.
BIs foster the growth of entrepreneurial companies, helping them continues to stay alive and
grow during the initial period. They provide a number of services to their client companies. Services that
are being provided include business support services and resources tailored to young firms for their
growth and development. (IPI/IKED, 2005) BIs are considered to be an excellent tool for building a
thriving SME sector. (Bayhan, 2006; Koshy, 2010) Ebay and other successful Internet ventures needed
incubators to gain financing and attain the market share that they currently enjoy.
Incubators provide access to suitable rental space and flexible leases and shared basic business
services and equipments. They also provide assistance in obtaining the financing necessary for a
company grow. It is the provision of management guidance, technical assistance and consulting tailored
to young and growing companies make business incubator programs unique. (Smith, 2004 ;
Whitepaper, 2008; NBIA, 2009)
Incubators differ in the way they deliver various services. Their organisational structure also
varies depending upon the types of clients they serve. There are different types of BIs with differing
goals that include diversifying rural economies, providing employment and transferring technology from
universities and technology institutions. Incubator clients are at the forefront of developing new and
innovative technologies, products and services, which could improve the quality of lives. (NBIA, 2009)
Business Incubators and Employment generation in the local market
Job creation is a global challenge. In this context, BIs can contribute in building youth entrepreneurship
and youth owned companies so as to create employment opportunities in the local market, within the
neighbourhood economy. Building youth owned enterprises is critical to innovation. Creation of jobs for
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the growing population can be addressed only by developing youth entrepreneurship as they could
probably grasp global market dynamics and provide better enterprise leadership.
Youth can contribute to create competitive, efficient and innovative enterprises. Here comes
the role of building a strong foundation in human resource development. For it is from this source that
innovators & entrepreneurs have to emerge to make a difference. However youth who come out from
the academic world need to be empowered for being self-employed, to start new ventures and
commercialise their knowledge. Therefore, it is critical to direct them to the world of MSMEs to build an
innovative, creative and competitive MSME sector. For the youth living in the information economy
needs the institutional support system of BIs.
According to ILO estimates 300 million jobs have to be created world over in the next 5 years.
As many as 45 million young people enter the job market annually, at a global level. Youth
unemployment rates are three times higher than those of adults, as a worldwide average. Unemployed
youth make up almost half of the worlds total unemployed population. The rate of young people
unemployed increased from 74 million to 85 million between 1995 and 2005. (ILO/09/39, 2009 ; GTZ,
2010)
Different varieties of Business Inucubators
Business incubators come in a variety of shapes and sizes in the modern economy. There are three
different kinds of BIs and they are public, private, and university based BIs. BIs are commonly classified
by ownership. Many of the BIs are attached to the universities, technical and technological institutes
and management institutes. And most of them are under public ownership and are being run as not for
profit initiatives. Numerous sets of subclassifications also exist, depending on their status as for-profit
or nonprofit entities. (Zablocki, 2007)
First incubator in the history came up as a private initiative in the US. Often BIs come up with
the support of the governments, LGIs (local government institutions). They could also be established as
a CSR program. Bank Muscat in Sultanate of Oman set up a BI as part of their CSR initiative.(Bank
Muscat, 2010)
For Profit BIs are privately funded and managed. The Incubator Company has the advantage of
taking an ownership position in each of the companies that it nurtures in their incubator and can have
the share in the profit, once the harvest begin. BIs can accelerate the time that it takes to get products
of a company reach the market in a very short time span. Often private BIs are being set-up by venture
capital companies, entrepreneurs, and corporations. According to a study on US incubators, 24% of BIs
there take equity share in the start-ups that they nurture. Whereas when it comes to specialized
incubators, 72% of technology BIs take some percentage of equity in those companies. This has now
come to be as a source of revenue for incubators especially for privately owned BIs. (InfoDev)
Private Incubator fees can include a monthly service fee for various facilities provided such as
telephone, computer usage, office space, and administrative services, as well as fees for professional
assistance. Many of the profit incubators accept outside investors. According to an estimate 15 to 20
percent of the US incubators are in the private sector. In the US, in terms of location, the bulk of BIs are
urban (45%), then rural (36%) and suburban (15%). The main focus areas are: 43% Mixed use, 34%
Technology and Targeted, 10% manufacturing, 6% Services and 7% Empowerment and others. (Lalkaka,
2001)
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Financing business incubators

Traditional approach to financing a BI model is that of State owned BI model, where the government
funds and manages a BI. Even today, globally, most of the incubators are founded and funded by the
governments themselves. But the trend is fast changing with the role of the State in the business arena
itself has changed. BI itself could emerge as an industry that build, nurture new businesses. In addition
to the government sources, corporate sources such as CSR initiatives add to the range of funding for
incubators. University incubators are mostly financed by the universities themselves and
government/private agencies. Governmental departments, various State agencies local economic
development agencies, local government intuitions(LGIs), financial institutions and others who want to
promote and develop SME sector and facilitate job creation at local level also finance and supports BI
projects. There are also particular businesses that want to tap the market of SMEs and entrepreneurs
are also probable financiers of BIs, in order to build business relationship with incubator clients.
Chambers of Commerce, Trade & industry associations, corporate and community foundations etc. are
examples in this regard. BIs could also expect support in terms of tax incentives, low interest loans and
tax credits to entities investing in incubators. Private partnership funding is yet another method of
financing, which is by way of raising money from a coalition of businesses and banks for operational
funds. (Chandra, 2007)
The pattern of US incubator sponsorship is as follows, based on a NBIA report 2000: (Lalkaka,
2001)
Sponsor Percent (%)
State/local/provincial government
No sponsor (independent)
Economic development group
Educational institution
Venture capital
Other
24
18
18
20
8
12
Other possible services and revenue generation avenues need to be explored for BIs to be selfsustainable in the years ahead. This would also possibly attract more private participation in this
industry. Some of the other possible revenue generation tools are providing skill development and
educational training programs through the facilities & by pooling skilled human resources at the
disposal of a BI , organisation of various networking events for the larger SME sector as well as start-ups
such as exhibitions, seminars, conferences and industry oriented workshops.
Services provided in a business incubator
Initially, BIs used to provide inexpensive physical environment in old or vacant buildings. But BIs evolved
over a period of time to concentrate on companies themselves, helping them to grow. A range of
services was developed to assist small companies by providing shared support services such as:
secretarial assistance
receptionist
access to photo copiers
internet,-telephone ,fax, telex;
technology transfer
professional services like
business planning
legal
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accounting & marketing support.

mentoring support
help in fulfilling regulatory requirements
help in the new firm getting registered
help in company going public through IPOs and capital/share market participation
Access to working capital is also arranged through provision of debt and equity financing,
government grant/loan assistance, by connecting them to a financial network of angels, bankers,
and venture capitalists. In the USA 33% of business incubators have in-house investment funds.
(InfoDev)
History of Business Incubators

First incubator in the history came up as a private initiative in the US, in Batavia, New York in 1959. It
began as a real estate venture. It was an attempt to utilise unused industrial warehouse building space,
as a commercial venture and was pioneered by Joseph L. Mancuso. One of the first tenants at Batavia
Industrial Center was a chicken company, which was into poultry production. (Asme) In 1951, Stanford
University created a research park in an attempt to bring in companies that would develop research and
commercialise them for their student base. Incubation pioneers appeared in Europe at the end of
1960s established as research parks and concentrated on building technologically oriented start-ups.
(narmsp.sk)
The earliest BI programs focused on a variety of technology companies or on a combination of
light industrial, technology and services firms. Such BIs are referred to as mixed-use or general
incubators. Whereas recent years witnessed the emergence of new incubators that targets specific
industry sectors such as food processing, medical technologies, space and ceramics technologies, arts
and crafts, and software development. Incubator sponsors also started to target specific areas for
instance micro enterprise creation, the needs of women and minorities, environment and
telecommunication sectors.
By 1980, there were only 12 incubators in the United States. Between the years of 1984 and
1987, the U.S. Small Business Administration developed several initiatives to build the incubator
movement. (Asme) In the 1970s, the first incubator was set up in Australia and in 1974 in Asia. In the
1980s, incubators were opened in Scandinavia and in Germany. The first Latin American incubator was
created in 1986. The 1990s were a chance for Central and Eastern Europe, when those countries were
faced with a transition from socialist model to market economy. In the former socialist countries of East
Europe and Russia, incubators were being considered as a tool for building the private sector economy
which was smaller in size prior to transition.
There are around 7000 business incubators around the world, according to an estimate. GCC
has around 20 incubators. The first incubator in the GCC came up in the Kingdom of Bahrain, when it
took initiative to set up a BI in 2003 with the support of UNIDO. Since then a number of other countries
in the GCC set up incubators. The Sultanate of Oman also came forward and set up Knowledge Oasis
Oman (KOM) as a joint venture with UK technology park programs. (ALMUBARAKI, 2009) EcoEnterprise Village (EEV) is an interesting concept with a focus on nurturing environment friendly
enterprises. At present, more than 60 national and international business incubation associations and
research and technological parks exist in the world, which actively support the development of new
enterprises and regional economic growth. (narmsp.sk)
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Business Incubators as a tool for SME development

Business incubators are an important part of the support infrastructure of SMEs in the world. Their
greatest benefit is enhancing enterprise survival rate. Incubated companies have a considerably higher
rate of survival. Studies have documented that Business Incubators enhance chances of firm survival by
80 to 85 percent. The establishment of new incubators peaked in 1987, and the new wave of economic
development initiatives in the1990s focused on helping existing businesses survive and prosper in the
face of global competition. Small business incubation is now a well-established and an accepted
economic development tool. Incubators are now used to promote the growth of entrepreneurial
ventures of every imaginable type. Incubation can be very useful for a new company, but they should
have an internal business plan and management team as early as possible. (LABJ, 2000)
Education with a focus on employment
The high percentage of youth unemployment is being considered as one of the most serious concern
and a barrier to economic and social development. In this context to promote and accelerate youth
employment opportunities what is required is a multi-sectoral employment generation strategy. These
strategies have to generate synergies among policies and institutions that are active in the economic,
education, employment, and social sectors. (GTZ, 2010) Education is not yet employment-oriented as it
should be.
Youth empowerment through education and employment demands greater attention. The
unique position of education in preparing students for the competitive job market need not be
overemphasized. The relevance of higher education in this regard is the extent to which the courses
studied by students could readily and easily be fixed into the context of demanding market conditions.
The role of higher education in preparing youth for job market is becoming more challenging in the
modern society. (Olufunke Akomolafe, 2009;Yorke, 2006)
It is often the current system of education that does not adequately prepare students to be selfemployed. This could be mainly due to lack of educational programs in those lines. But the youth of
today want to have focused education and training that have the potential to be applied in real life
situations, empower them and enable them to take on the challenges of life, especially work related
and finding a suitable career/profession that gives them satisfaction as well as income for their living.
For instance, take the case of the youth population that wants to set up their own business
establishments. How far todays educational system geared to train and assist them towards realizing
their targets in life?
For the growing number of population, the solution for the unemployment problem is indeed
self-employment through entrepreneurship development. After finishing formal education, young
people should be able to consequently make successful transition to work with the skills and
knowledge they acquired (UNESCO, 2005). World over today, many graduates of higher education
remains unemployed, some under-employed. Only a minority of them becomes self-employed despite
opportunities. What is required in this context is a new model of educational delivery that empowers a
student to be self-employed, and to launch ones own ventures and commercialise knowledge acquired.
Entrepreneurs are plenty. And, youth have the potential to make a difference, if, appropriate
support, assistance and encouragement are given. They have high aspirations, eager to experiment with
innovative ideas and take risks to prove themselves. But, when it comes to launching a new venture,
they need support. Though there are entrepreneurship development programs (EDPs) in select
management institutes but their scope is limited in enabling youth to start their own ventures as they
dont provide the support system that a BI do provide.
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Education transition in Delivery through ICT: learning for a knowledge economy

In the IT-led global knowledge village, there are seamless potentials for study, earning a degree,
knowledge building outside of the college campuses. Virtual campuses are the reality today. What are
needed then would be centres for imparting practical lessons on starting, managing, and pursuing the
growth of enterprises & ventures that a youth entrepreneur could launch. In the knowledge economy,
Business Incubators can turn to be real learning centres. Each student need to identify commercial
relevance of the knowledge acquired so as to survive in the highly competitive world. Educational
establishments also could help students by way of setting up business incubation programmes to find
commercial application of acquired knowledge.
Technological literacy is not the only skill required for attaining success and set-up a business or
getting a well-paying job in the new knowledge based global economy. EnGauge of the North Central
Regional Educational Laboratory (U.S.) has listed a set of skills that are required for the knowledge
based information economy. Those skills are called 21st Century Skills. 21st century skills include digital
age literacy (consisting of functional literacy, visual literacy, scientific literacy, technological literacy,
information literacy, cultural literacy, and global awareness), inventive thinking, higher-order thinking
and sound reasoning, effective communication, and high productivity. (Tinio, 2003)
Following table illustrates the skills required in the ICT led work places and knowledge
economy.
21st Century Skills
Digital Age Literacy
Functional literacy
Scientific literacy
Technological literacy
Information literacy
Cultural literacy
Global awareness
Ability to decipher meaning and express ideas in a range of media;

this includes the use of images, graphics, video, charts and graphs or
visual literacy
Understanding of both the theoretical and applied aspects of science
and mathematics
Competence in the use of information and communication
technologies
Ability to find, evaluate and make appropriate use of information,
including via the use of ICTs
Appreciation of the diversity of cultures
Understanding of how nations, corporations and communities all over
the world are interrelated
Inventive Thinking
Adaptability
Ability to adapt and manage in a complex, interdependent world
Curiosity
Creativity
Risk-taking
Desire to know
Ability to use imagination to create new things
Ability to take risks
Higher-Order Thinking
Creative problem-solving and logical thinking that result in sound

judgments
Effective Communication
Teaming
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Collaboration & interpersonal skills

Personal and social responsibility
Interactive communication
High Productivity
Ability to interact smoothly and work effectively with

others
Be accountable for the way they use ICTs and to learn to
use ICTs for the public good
Competence in conveying, transmitting accessing and
understanding information
Ability to prioritise, plan, and manage programs and
Projects to achieve the desired results. Ability to apply
what they learn in the classroom to real-life contexts to
create relevant, high-quality products
Source: Adapted from EnGauge. North Central Regional Educational Laboratory; Victoria L. Tinio, ICT in
Education, e-premier, UNDP-APDIP, 2003, p. 7
ICT oriented educational delivery and business incubators
An important aspect of Information and Communication Technology (ICTs) is its ability to transcend
time and space. Online course materials, could be accessed 24 hours a day and 7 days a week. Radio
and television and such other broadcasting technologies could also be made applicable. ICT-based
educational delivery dispenses with the need for all learners and the instructor to be in one physical
location-class room. Here comes the potential for BIs to work as the real learning centres for the
enterprising youth population. In this context of business incubators can prepare students to be selfsupportive, and self-employed. While they acquire some of the business management techniques and
much required as 21st century skills from a BI students could continue their learning that they could
otherwise do from traditional college or a university through ICT modes and practical/applied
educational programmes from a BI.
Also, ICTs can facilitate access to resource persons such as mentors, experts, researchers,
professionals, and business leaders, from all over the world to assist enrolled students in a BI. Further,
there is access to remote learning resources. With the Internet and the World Wide Web, a wealth of
learning materials in almost every subject and in a variety of media can now be accessed from
anywhere at any time by an unlimited number of people.
Educational institutions have to prepare students to be entrepreneurs. In the context of growth
of population and challenge of providing employment opportunities to them can be addressed by
churning out graduates who can be self employed with entrepreneurial and enterprise management
skills. The challenge hence is to have model that would combine education, learning and training with
employment and enterprise creation. . In the information age, learning is much more collaborative and
active process. Here, learners learn as they do and, whenever appropriate, work on real-life problems
in-depth, making learning less abstract and more relevant. (Tinio, 2002) Education oriented business
incubators thus appears to be a solution. As table above explained, 21st century skills can be imparted in
a better way through educational centres located at a business incubator.
Business Incubator as future Education Centre
Considering the scope and potential of un-identified youth talent, there needs to be a much vaster
network of BIs. These BIs could provide a diploma or degree in economic leadership, business &
enterprise leadership to those successful candidates during the pre-incubation stage
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A Business Incubator Model

Eco-Enterprise Village (EEV): Business Incubators for building environmentally focussed companies
Why Eco-Enterprises Business Incubator?
Eco-Enterprise Village (EEV) is a general type business incubator concept. It focuses on building &
nurturing green oriented companies for whom environment-conservation and sustenance as core
corporate strategy. It would help commercialise new technologies, new ideas and all kinds of innovative
products and services, with a focus on contributing to sustainable & eco-friendly development.
Deterioration of the eco-system is a major issue that the world faces today. This is due to rapid
economic growth and race for attaining much faster growth. In this race what is ignored is the
environment. EEV- BI model is an attempt to build companies as partners in sustainable development
with a focus on environment. Below is a list of few select sectors that would be nurtured and
encouraged in an EEV- BI. They include the following, but are not limited the below list:
.
Solar technology Companies and alternative energy products
Recycling industry, Waste management industry
Information and Communication Technology units
Public Relations, Advertising, Marketing and other such service sector units
Business Process Outsourcing Units
Targeted population: Youth
Targeted population would be youth within the age bracket of 18 25. It would target youth population
and imparts lessons, training, exposure, in-house networking possibilities, space and post launch
mentoring assistance to up to 20 to 40 start-up ventures.
Features of EEV Business Incubator
To be sustainable and to offer additional services EEV should have a space between 40,000 to 60, 000
sq. feet. EEV business incubator would have a focus on pre-incubation phase as a thorough preparatory
period. During which an entrant entrepreneur will undergo rigorous training, coaching and s/he would
be provided with opportunity for extensive interaction with the industry that prepares them as
entrepreneurs as well as enterprise manager.
Business
incubator
Youth ( 1825 age

group)
EEV( ecoenterprise
village)
Building
green
oriented
enterprises
Focus on
management ,
business and
entrepreneurship
training
Figure 1: Eco-Enterprise Village features
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Focus on education and training: Pre-incubation programs at EEV

The present education system, at all levels, is not tuned to produce ready to work and ready to perform
graduates or students. It is a fact that the world of academics is different from the world of work. The
EEV educational and training programs are designed to bring out youth ready to work for their own
company. They would be taught and given certificates, diplomas or degrees as well. The training
programs help them prepare themselves for the world of work and introduce them to demanding work
site & enterprise management needs.
Educational, skill development and training programmes
Offering practical and applied education and training programmes for the youth and any other desirous
entrepreneurs as well as anybody else would be a major part of EEV BI programmes. A list of probable
courses that would be offered include: Entrepreneurship development; enterprise management;
financial management; accounts management; sales & marketing; communication for managers; and IT
for enterprise managers.
enterprise
management
Entrepreneurship
development
accounts
management
EEV
Education
&Training
Programs
sales &
marketing;
communication
for managers
financial
management
IT for
enterprise
managers
Figure 2: EEV Education & Training Programs

This would essentially act as an additional revenue generation for EEVs, as such programs would
be offered to youth in general as well.
Pre-incubation phase- focus on training
In addition to educational programmes offered to youth, there would be very specific Pre-incubation
training phase which is being planned as a six month long training leading to a diploma or post-graduate
diploma in enterprise development and management, with practical and exposure programmes. Pre-
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KOSHY
incubation training is expected to be a very comprehensive training in all aspects of enterprise

management.
Towards Incubation: Starting a venture and getting admitted to EEV Incubator
During the pre-incubation phase, training & preparatory period, an entrepreneur gets equipped to
enter into incubation stage. Training and education, empowers them to perform their responsibilities.
Once training period is over, which is compulsory, all the potential entrepreneurs then move to the EEV
business incubator for which, EEV management conducts a crucial screening of desirous entrepreneurs
and choose the apt on the basis of certain criteria that the management decides.
Assistance would be provided during the interim period in the following aspects:
Developing a bankable Business plan

Each candidates to be attached with a mentor
Technology Selection & identifying partnerships
Facilitating Business partnerships
Seeking licenses/regulatory assistance
Incubation phase: Services available to incubate start-ups

Companies will be permitted to stay in EEV Business Incubator, to begin with, for a period of 36 months.
Monthly service charge will be levied to a company for the period of first 12 months, and at a higher
rate from second and 3rd years. EEV, Business Incubator management at its own discretion, as per the
requirement, permit companies to extend their stay for a maximum period of another 24 months.
Incubation phase services in Eco-Enterprise Village
Office/workshop/
lab space &
furnitures
High speed
internet
Computers/
Photocopying
Common
Reception
Fax/ Telephone/
Communication
Mentoring support
Marketing
Support/ PR
support and Initial
promotin
support to fulfill
regulatory
requirements
Finance/funds
identification, IPO
Support when
required
Marketing
support/
Promotion
/common PR
Technology
transer/
international
collaboration
Networking
opportunites
Figure 3: Services during Incubation Phase in EEV

Joining the EEV
One time registration and joining fee (to be fixed)

Will undergo a 6 months training program at EEV and get a diploma in enterprise development
and management
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After 6 months they will be attached to a mentor, in addition to EEV staff who would assist the
entrepreneur in setting up and running their companies
Receive assistance in availing bank finances and other sources of funding
Can take an office space as per the requirement at a cost which is fixed from time to time
Enterprise Resource Centre (ERC)

The EEV would house an Enterprise Resource Centre which would be a centre for providing various
services to MSMEs and entrepreneurs. Following are some of the services that the ERC would provide:
Business and market intelligence: Resource centre would provide information pertaining to all aspects
of market, finance, technology, changing policies, business rule and any other relevant information that
are required for the enterprises. This service would be a revenue source for the EEV.
Market studies, reports and feasibility studies: would bring out regular market studies and analysis
would conduct feasibility studies on projects as and when asked for on a fee basis
Business directories and publications: ERC would compile and bring out directories and other useful
materials for business houses
Events: ERC would organise events such as exhibitions, seminars, conferences, workshops and other
networking event on a regular basis
Conclusion
Business Incubator as detailed above can function on a sustainable basis and serve society, economy
and communities in creating employment opportunities, building sustainable eco-focussed enterprises
and thereby alleviate poverty and promote and assist in building a thriving Small and Micro Enterprise
sector. If given an educational focus and provide it as a service that would be an additional revenue
source for BIs. Together with business incubator services, educational programs for business leaders
and services of ERC, the model of BI suggested here called Eco-Enterprise Village offer a promise to
youth population to build sustainable youth enterprises.
What is needed in todays complex and challenging global market scenario for the youth
population are institutions that would provide education as well as mentoring support to translate the
knowledge acquired for commercial uses and youth coming out from academic world to be selfemployed and start new ventures of their own on a successful manner. Business Incubator model,
presented here with a focus on imparting educational and networking services by harnessing ICT tools
could prove to be a panacea for some of the challenges and issues of the modern times such as building
a competitive SME sector, eco-friendly businesses, unemployment and building youth enterprises and
entrepreneurship.
References:
ALMUBARAKI, H. M. (2009). BUSINESS INCUBATION: NEW INTERNATIONAL CURRENCY FOR ECONOMIC

DEVELOPMENT. Retrieved June 10, 2010, from http://www.kuniv.edu:
http://www.kuniv.edu/ku/News/KU_004113
Asme. (n.d.). History of Incubators . Retrieved November 4, 2010, from http://professionalpractice.asme.org:
http://professionalpractice.asme.org/Entrepreneurial/Incubators/History_Incubators.cfm
Bank Muscat. (2010, January 5). BankMuscat business incubator to create livelihood for women. Retrieved
November 7, 2010, from http://www.bankmuscat.com: http://www.bankmuscat.com/enus/PressReleases/Pages/pressreleases6-1.aspx
Bayhan, A. (2006). BUSINESS INCUBATOR PROCESS:A POLICY TOOL FOR ENTREPRENEURSHIP AND ENTERPRISE
DEVELOPMENT IN A KNOWLEDGE BASED ECONOMY. Competitiveness Support Fund.
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Brandt, J. (2000, March 27). To Incubate or Not to Incubate, That is the Question. Retrieved November 4, 2010,
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Chandra, A. (2007, November). Approaches to Business Incubation:A Comparative Study of the United States,
China and Brazil. Working Paper, 2007-WP-29 . Network Financial Institute, Indiana State University.
GTZ. (2010). TOOLKIT GET YOUTH ON BOARD!. Eschborn/Germany: Deutsche Gesellschaft fr Technische
Zusammenarbeit (GTZ) GmbH.
IDISC.InfoDev. (2010, November 1). Types of Business Incubators. Retrieved November 4, 2010, from
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ILO/09/39. (2009, June 19). ILO adopts Global Jobs Pact aimed at creating jobs, protecting workers and
stimulating economic recovery. Retrieved November 6, 2010, from www.ilo.org:
http://www.ilo.org/global/About_the_ILO/Media_and_public_information/Press_releases/lang
en/WCMS_108482/index.htm
Inc, Business Incubators. (n.d.). Business Incubators. Retrieved November 4, 2010, from http://www.inc.com/:
http://www.inc.com/encyclopedia/business-incubators.html
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IPI/IKED. ( 2005). Business Incubation and Venture Capital An International Survey on Synergies and
Challenges. Rome Italy: Institute for Industrial Promotion(IPI).
KJ Smith. (2004). BUSINESS PLAN FOR A TECHNOLOGY INCUBATOR. Oregon: KJ Smith Associates.
Koshy, P. (2010, October Vol.III, No. 10). From Theory to Practice: Business Incubators as Tomorrows
Educational Centers . SME World , pp. 40-41.
Koshy, P. (2010, July 15). Rural Business Incubators: A tool for inclusive growth. Retrieved August 20, 2010,
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work? Retrieved November 4, 2010, from http://www.labusinessjournal.com:
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Lalkaka, R. (2001, November 20-21). Best Practices in Business Incubation:Lessons (yet to be) Learned.
International Conference on Business Centers: Actors for Economic & Social Development . Brussels: European
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Seminar on Human Development Issues: Capacity Development in Indian States (p. 16). Mumbai: Unpublished.
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Delhi.
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received from Antal Szabo, Unpublished document)
White, J. T. ( 2006). Building A Business Incubator:A Teaching Case Study. Journal of Business Case Studies
Fourth Quarter , 19-22.
Yorke, M. (2006). Employability in higher education: what it is what it is not: Learning and Employability
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ACHARYA SACHIDANANDA BHARATHI
ABSTRACT: Green enterprises are those enterprises that will help us build a green economy. Economy
could be seen as the physical expression of an authentic and practical spirituality. The concepts of Green
Economy, Sustainable Development and Eco-Spirituality have become the triangular foundation of
our economic thought and discourse for sustainable development and global peace. Eco-friendly,
people-centred and need-based economic enterprises were what Gandhiji had advocated for sustainable
development of India and for a culture of abiding peace, prosperity and happiness on earth. This was the
core concept in his ideology of Sarvodaya. Only through such a green economic order can we uphold
and promote the interdependent organic nature of creation and the unity of all life.
KEYWORDS: Green Enterprises; Green Economy; Gandhian thought; Sustainable Development
Economy is being seen as a physical expression of an authentic and practical spirituality. Few gurus and
books have greatly influenced in molding my thoughts in this direction during the initial stages of my
spiritual quest that began soon after an encounter with death in an air accident in 1982. (I was a 35year old Indian Air Force Squadron Leader at that time). Important among the books that influenced my
thoughts were Economy of Permanence by J. C. Kumarappa, The Marriage of East and West & New
Vision of Reality by Bede Griffiths, Small is Beautiful by E.F Schumacher and My Experiments with
Truth by M.K. Gandhi. The concepts of Green Economy, Sustainable Development and EcoSpirituality were just beginning to enter into the realm of human thought at that time. Today they have
become something like a triangular foundation of our economic thought and discourse for sustainable
development and global peace.
Earth Family Consciousness & Ecological Worldview
Discoveries of modern science have proved beyond doubt that creation is an interdependent organic
whole in the form of a network of relationships. Planet Earth itself is a living organism the health and
vitality of which depend on the health and vitality of its various individual parts and of the various
species of life inhabiting it.
The saints and sages of India proclaimed from their intuitive wisdom that human beings,
animals, plants and all other living beings inhabiting the earth together constitute one large
Vasudhaivakutumbakam (Earth Family). This Earth Family Consciousness and holistic ecological
Acharya Sachidananda Bharathi is a former Indian Air Force Squadron Leader turned Sanyasi. An encounter with death in an
air accident in 1982 and the subsequent spiritual experiences transformed his life radically. He renounced private property and
family life in 1996. He became a Sanyasin in 2001 after 5 years of experimental life as a Parivrajaka. He initiated the
Bharathi Chaturashrama Sanyasa Parampara in 2003 and took the name Swami Sachidananda Bharathi. He has travelled
widely and has authored a number of books. A Vision and a Mission for the Third Millennium, The Second Freedom Struggle of
India are his major works. He was one of the delegates who represented India in the Millennium World Peace Summit of
Religious & Spiritual Leaders organised by the United Nations. Contact Address: Shantivanam Ashram, Rama Village, Nagpur
441108; E-mail: swamisachidananda@gmail.com & URL: www.navasrushti.org
worldview constitute the two greatest contributions of India to the evolutionary growth of human
thought. What ancient India knew intuitively the western world today is proving scientifically? It is only
on the strong foundation of such an Earth-Family Consciousness and a holistic ecological worldview
that humanity can build a united and happy world of sustainable development and abiding peace.
India always believed that earth is like a mother (dharthi mata) to all living beings that share
her resources for their existence. Pollution of air, water and soil, and destruction of natural resources
and ecological harmony will have disastrous consequences for the whole Earth Family.
It is a shameful reality that out of all living beings inhabiting Planet Earth, it is only we human
beings who destroy the ecological health and harmony of this our common habitat in space because of
our insatiable greed. It is like the proverbial foolish man cutting the very branch upon which he himself
is sitting. By destroying the ecological health and harmony of Planet Earth we are harming ourselves.
However, we are now learning through many painful experiences the need to take care of Mother Earth
and her resources, and to live in harmony with the rest of Earth Family and with the world of nature for
our very survival on this planet.
Environmental degradation, soil erosion, floods, droughts, ozone layer depletion, acid rains,
natural calamities, unknown diseases, wars small and big, violence, terrorism, etc. are today teaching us
the need and necessity for living in peace and harmony with one another and with all other living beings
constituting this Earth Family. We are forced to accept that an Earth Family Consciousness and holistic
ecological worldview are essential prerequisites for building a peaceful, prosperous and happy world.
But we are yet to develop the mindset and will power to abandon our old worldview and habits, and
reorient our lives and remold our consciousness based on this emerging new integral vision of reality.
Promoting among the peoples of the world such an Earth-Family Consciousness and holistic
ecological worldview based on the interdependent organic nature of creation and the unity of all life is
the most important divine mission ahead of us. I see this Green Enterprise Summit also as part this
divine mission of the era.
A Spirituality of Peace & Sustainable Development
Spirit is the source and ground of existence. Spirituality is the art, science and process of being in
conscious communion with this source of our being and ground of our existence. Spirituality is not
religiosity. It has nothing much to do with the code, creed and cult of religions. It is also beyond all
rituals, dogmas and doctrines of organised religions.
Spirituality is a vision of reality that pervades, integrates and transforms all aspects and fields of
individual and collective life; economic, social, religious, political, scientific, cultural and educational; for
the fulfillment of human life in its totality.
Spirituality of peace implies a vision of life and reality that can inspire us to live in harmony
with the whole human family and with all other living beings in the Earth Family. This is the deepest
foundation of sustainable development. An Earth Family Consciousness and a holistic ecological
worldview are the two interdependent and interrelated dimensions of a spirituality of peace, and
hence, of sustainable development. Through them a spirituality of peace also expresses itself.
Green enterprises are those enterprises that will help us build a green economy. The UNEP has defined
green economy as that economy which contributes towards improved human well-being and social
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ACHARYA BHARATHI
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equity, while significantly reducing environmental risks and ecological scarcities. Environmental health
and ecological harmony constitute the central theme of green economy and hence, of green
enterprises.
Peace is essential for development, prosperity and happiness. Materialism and Consumerism,
and their offshoots like Capitalism, Communism and Socialism, have violence and exploitation inherent
in them. They are destructive to humankind and to the world of nature. Human experiences so far bear
testimony to this truth. Mother earth has her limitations. I remember to have read somewhere that the
Club of Rome had brought out a document three decades ago on limit to development pointing out
that humankind cannot go on consuming the natural resources without ecological responsibility. We
need to develop and adhere to an ethic of enough for our own sake and for the sake of future
generations. The materialistic and consumerist approach based on market economy and healthy
competition will lead us to mutual annihilation and self-destruction. Hence, it is a historic imperative
that we search and find a new sustainable developmental paradigm based on an Earth Family
Consciousness, a holistic ecological worldview, an ethic of enough and a spirituality of peace. This will
mean that science and technology will have to be rebuilt on a new foundation of love. This is the task of
the era in which every one of us is called to play a unique yet important role. I see this Green Enterprise
Summit as one such initiative.
Eco-friendly, people-centered and need-based economic enterprises were what Gandhiji had
advocated for sustainable development of India and for a culture of abiding peace, prosperity and
happiness on earth. This was the core concept in his ideology of Sarvodaya. Only through such a green
economic order can we uphold and promote the interdependent organic nature of creation and the
unity of all life. It is in this mission of building a peaceful world order based on green economy and
green enterprises that Mahatma Gandhi and his ideas will have their eternal relevance. The world at
large is coming to this realization today.
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Global Political Economy and Green and Eco-Entrepreneurship

C. K. VISHWANATH
ABSTRACT: Green economy is being defined as a local or neighbourhood based climate friendly and low
input economy. However, with the time a paradigm shift in the discourse on green economy could be
seen. Today, focus is more on developing environmental services and a market for environmental
services. Various activities with the potential for payments for ecosystem services has emerged.
Promotion of mono culture tree plantations, trade in carbon credits and the speculation markets for biodiversity and forests. Ultimate impact would be the destruction of a localized land based agrarian
communities and their livelihood enterprises, which are mainly MSMEs. Green economy focus needs to
be reprioritised and replaced with the positive rights of agrarian communities and MSMEs, which are
very much based upon entrepreneurial ventures in the neighbourhood and local economies.
KEYWORDS: Green Economy; Carbon Credits; Environmental Services; Agrarian Communities and MSMEs
The discussion on green economy is quite common. With the impact of climate change and global
warming being increasingly felt and experienced by communities around the world, a focus on
environment and greening of the economies has emerged as a prominent topic of discussion in
academic, policy and in the research circles. Green has been one of the most important topics in the
policy forums across the globe.
Along with the relevant topics of the planetary crisis, the business interest of the green
economy is also coming into the forefront. After the signing of the Koyoto protocol in 1977, which came
into existence on February 16, 2005, but in reality this could create a huge market and business
opportunities for green enterprise ventures. Just for instance hot air trading has got a new prominence.
The alliance against global climate change has been a new economic agency for green market, green
enterprises and green entrepreneurial ventures.
Green Economics: Indigenous communities vs. global economic elites
Green economics: who represents the green economy? This is a pertinent question that is being raised
by communities and groups across the world. There is a battle going on between indigenous people and
economic elite in the globalized economy for quite some time. Green economy is being represented in
the name of clean air credits, carbon trade etc. However, it is to be noted that indigenous and localized
life styles which is based upon mother earth rights and crucial livelihood questions concerning
ownership of natural resources and right to livelihood based upon such eco-centric activities. The local
and global conflicts in green economics, which is an interesting development in the present economic
and social life, where questions are topics related to the land rights, life style and localized or
neighborhood economy.
C. K. Vishwanath is an independent researcher based in Kannur, Kerala.

www.ijsme.com
Gordon Brown, the former British Prime Minister, could see the positive impact of climate
change business. But, the question remains that, green investment, green infrastructure and green
mode of economy for whom? One should see corporate interests that are playing its role in the creation
of a market for themselves in green market and green products. The green new deal for economic
growth, what Mr. Brown referred could be seen as an attempt to tackle over dependence on oil so as
to meet three interlinked objectives, energy security, climate change and job creation together.
Green economics as a strategic tool for western hegemony!
Creation of four lakh jobs had been the dream project objective, to which this green job mechanism was
being targeted. How, a boost in economic productivity, through this green development model, can be
achieved is the major question confronting financial and economic experts as well as policy makers
worldwide. Each country has its own interests and stake in this green development model. For instance,
USA aims at controlling global food market. Green farm technology through which they can produce
genetically modified seeds is one way of exerting its continued influence on global food market. This has
tremendous economic and financial interest as well. Clean development mechanism is another strategy
for solving the emission from the developed countries. This was a contentious issue at Copenhagen
climate summit. The recession that hit western economies particularly, would also gain considerably
from climate change business and they may overcome from the economic crisis through this ecofocused business opportunity. But many see this is something that is against the interests of the
developing world. In short, the agrarian populations of the Asia, Africa and Latin America have to bear
all the consequences related to the emission of gas and developing new farm technologies.
Gender dimension and green economy
The present day crisis relating to climate change has clearly given a gender dimension too. Greta Gurad
and Lauren Guren, the noted eco-feminists have observed that the green crisis of the world, owing to
unjust over consumption and production, leading to the enslavement of women.
Environment and justice movement, a social justice movement in USA, declared
that environmental justice affirms the sacredness of mother earth, ecological unity of species and the
right to be free from ecological determinism. Forests are disappearing at a rate of 17 billion hectares
per year. Every day the mother earth loses no less than 140 plant and animal species. The ongoing
economic development has literally crushed the life chances of the different species of Earth.
Development mania in developing countries and the question on green economy
The middle class consumption is expanding in countries like India has also created the problems of
growth syndrome. The development mania among the middle class sections of the Indian society is
nothing else, but a development disease. A promoter of Indian economic growth, Nandan Nilekani says
that allowing private entrepreneurship such as contract based agricultural eco-system services, in
parallel with carbon pricing system can shift farmers away from destructive agricultural practices and
also create a large new market for green agribusiness interlinking farmers more effectively to market.
This would also help them directly access carbon markets.
The green agribusiness for Indian small peasants, adivasis, dalits and other land based
communities: What does it mean to them? The policy level shift from agriculture to agribusiness has
created its own troubles across India. Farmers suicides are still happening and the problems of
agricultural communities are being neglected. Water table is depleting. Severe drought is affecting
across India. Likewise, Gordon Brown, the climate change is an issue of business opportunities, for
Nadan Nilekani.
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Global poor and land rights

Oil and control over petrochemical resources is being seen as the foundation of global power and
economic security. However, land question and limit to growth reality has been the real survival issue of
the global poor. The new global land grabbing has been very different from old plantation economies of
colonial powers of the world. Land deals of Africa have been exposing the ugly underbelly of agrarian
scenario. In Sudan, the land deals have expanded around 24,000 hectares. In Madagascar, the South
Korean company Daewoo has reached an agreement in land deals. It includes half of its arable land and
also the lease extending to 90 years. The local economy of Madagascar doesnt get any kind of benefit
from this land deal.
Saudi Arabia has bought land for cultivating wheat in Sudan. China is also buying land for biofuel and food. Indian companies have also formed a consortium for corporate farming in Latin America.
All these land deals and land grabbing have been raising many questions on land and local economy
relations. Most of these countries are said to be in a survival crisis. The changing pattern of land usages
in agrarian sector has had a boomerang effect on those countries economies.
Understanding green economy
Green economy had defined earlier as a locally based climate friendly and low input economy, but now
it is called payments for ecosystem services that means to promote mono culture tree plantations,
trade in pollination credits, and the speculation markets for bio-diversity and forests. The ultimate
impact is to destroy the localized land based agrarian communities survival. The green economy needs
to be replaced with the positive rights of agrarian communities. While reading out a report on
ecosystem services, the report promoting the payment for eco system services, the picture is very clear.
What it means is the commodification of natural resources! Ecosystem provides trillions of dollars in
clean water, food production, fertile lands, clean air, pollination, disease control. So how could we
secure this enormously valuable infrastructure and its services? In the same light today, we pay for
electricity, portable water, or natural gas.
Natural capital accounting
UNEP and World Bank have reinvented novel ideas for green economy. World Bank says natural
capital accounting would add to our GDPs .The wealth stored in our natural resources- minerals before
they are mined, forests before they are felled ,water while still in the rivers.
Sustainability along with the foreign direct investment in developed and developing nation
states are more in conflicts. In other words, clashes of interests with regard to global sustainability
and favorable investment climate with the naked productivism in the development models that
sabotage the sustainability. The environmental Kuznets curve explains that GDP growth helps to
improve green economic realities later. Growth first, later environment, movement is questioning the
concept of sustainability itself.
Economic crisis and green economy
The financial crisis needs to be related with ecosystem. The noted green economist, Robert Constanza
has pointed out that the worlds finance economy is just a subset of the natural resources and
ecosystem services. The discussion on the reasons of financial bubbles has been neglecting the core
issue. The economic bubbles and the GDP realities should not be silenced upon the ecosystem services.
The question is in the post-carbon and consumerist era, how to handle the present
development project? The GDP growth or a decline in simple terms doesnt give any positive impact
on per capita carbon emissions according to Richard York. The alternative growth infrastructure and the
new economic realities have compelled the new generation to change their life style. This fact may
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repeat itself in many parts of the world. And this is indeed challenging the motorized life status of last
century.
Green Economy: Some green life models
There are so many examples for the new green life models. The unlimited extra-activist growth and
development model have proved to be ineffective and outdated.
Gandhian model as a green life model and green economy model: The post-development
discourse in which Gandhian model life style is one of the prominent model for sustainable life
style. The non-violent spiritual economy and the ethical and spiritual life style form an excellent
model of green economy and green living, which is based upon communitarian life praxis. An ideal
self-sufficient village model for the post-development ethical life. There are such experiments
happening in some parts of India. Sustainable business practices and its possibilities in the social
life, which is seriously confronting and challenging the business communities and policy makers too.
Entrepreneurs and green life model: The decentralized low energy business cluster models have
realized the dangerous unlimited growth model of romantic industrialization project. One of the
positive outcomes out of this kind of planetary crisis has given an opportunity to a new generation
of organic farmers in India to explore into various aspects of sustainable living. The challenge from
high carbon economy to a low carbon economy has developed its own challenges and
opportunities. There are many examples of the young green entrepreneurs in the world. A new
generation of green entrepreneurs who are very sensitive towards the bio-capacity of the earth and
the present day planetary realities have emerged.
Bright Green Philosophy and Green Social Entrepreneurship: Filip is a green social entrepreneur
from Brussels, Belgium. He runs a social and ecological catering unit. The company called Witlov
produces green products through his philosophy known as bright green. Bright green is the
philosophy based on sustainable supply towards a creative market change in favor of green life
style. It is to be noted that the eco-crisis could lead to a post development a discourse on ethical
business and life style.
Conclusion
To conclude, the dominant approach needs to be challenged for giving a space for the rural agrarian
communities and the mother earth. Mother earth politics and good life concept has emerged from the
green crisis. The green democracy, which is being developed by many social movements, has been
thrown out from the green crisis. This is clearly a positive development which is drawing up a paradigm
shift from the earlier era prometheausian based productivist approach in which human beings are
the center of the universe. The greening of democracy aims at reversing the present development
model based on unlimited growth and to develop a green mode of life which has to accommodate the
concept of Common property resources for all. It is not the egoist motive of consumerist and
business interests of the few. An ethical consumption based democratic way of living that reflects in
green democracy. The question confronts us and the foundation for thinking and reflections on green
economy may be the question of bio-capacity of the earth and its survival chances. What kind of
economic development and growth model we can think of? The crucial point is the challenge of
participating in economic development model, which offers a balanced growth in between earth and
humanity, so that, an appropriate green economy and entrepreneurship model that contribute to
sustainable green planet may emerge.
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Solar Energy for Air-conditioning systems:

A Case of VSM Solar Pvt. Ltd
SRINIVASAN SAMPATH
ABSTRACT: Solar is the future. The solar air conditioning results in saving electricity that could be twice
as effective production, due to the transmission and other wastages involved. It is necessary to give an
impetus to this energy saving process by policies to provide adequate incentives to initially offset the
cost of setting up these solar air conditioning systems. With the advent of technology, the efficiency of
solar collectors and hence areas required have shrunk; the costs are rapidly coming down and the
Government is offering incentives to propagate solarisation due to the alarming power shortages, and
the increasing awareness among public have made solar a potential business sector that will keep
growing.
KEYWORDS: Solar energy, power, solar air-conditioning, renewable energy, alternate technology
Power situation in India

Out of the 212,000 MW requirement of power, India produces only about 112,000 MW and this is
resulting in more and more power outages, and with weakening of rupee, the import bills of oil also is
putting an enormous burden on the Indian economy.
Power required in India in

Megawatts [MW]
28%
Existing: 112000 MW
53%
19%
Planned: 41000 MW
Unmet demand:
59000 MW
There is an annual addition of air conditioning of 1.7 mil.TR, requiring around 23,000 MW of
additional Electrical power every year, increasing at a rate of 15% per annum, equivalent to establishing
of 4 new Power stations of 6000 MW each every year, and this massive power consumption addition is
also adding to the woes.
Mr. Srinivasan Sampath, CEO and Managing Director, VSM Energy Pvt. Ltd., Bangalore

Solar Energy for Air-conditioning Systems: A Case of VSM Solar Pvt. Ltd.
www.ijsme.com
The increasing carbon foot prints in the atmosphere, resulting in global warming and other
evils, the impending depletion of oil resources over the next 30 to 40 years, the dirtiness of coal in
thermal power production, the safety concerns regarding the nuclear power production and alarming
concerns of the conventional power production is making people and the Government on focusing on
the search for the usage of renewable energy.
Conventional energy sources have their serious draw backs. Petroleum based energy has
carbon foot print concerns and also this resource is depleting fast and may not be available after a few
decades. Coal has further cleanliness and pollution concerns. Nuclear energy has serious safety
concerns and only the renewable resources have future.
Solar energy has the future
With water resources being almost fully utilised, there is no scope for significant growth. Wind, though
is a major renewable energy source, has its limitations as it has location constraints. Bio gas,
Geothermal, Ocean waves and multitudes of other sources have their limitations and are not expected
to grow leaps and bounds. Hence solar energy, with its abundance, has the potential to become the
largest source of energy in the years to come.
With the advent of technology, the efficiency of solar collectors and hence areas required have
shrunk; the costs are rapidly coming down and the Government is offering incentives to propagate
solarisation due to the alarming power shortages, and the increasing awareness among public have
made solar a potential business sector that will keep growing. While PV is getting all the attention as
the power production messiah, solar air-conditioning with its potential to save energy, ranks as the
savior for the future.
Of the 1.7 million TR of additional air conditioning requirement, at least 30% or half a million TR
can be converted to solar air conditioning. Over and above that, there are more than 10 million TR of
existing air conditioning systems that can be retrofitted.
VSM Solar Company
VSM Solar Private Limited is a Joint Venture Company with Equity participation from Fraunhofer,
UMSICHT, Germany, a leading, world renowned Organisation, set up in Bangalore for the manufacture
of Solar Air conditioning Plants and Cold Storage systems on turnkey basis, using a matured and proven
technology.
How solar air-conditioning works
Solar Heat Energy is used to produce hot water and this gets directly converted to chilled
water by absorption thermal conversion process. This Cold energy is used to cool the building.
Electricity is not produced in this process. This is a direct Heat to Cold conversion process
and is economical and efficient.
Fraunhofer is a world renowned pioneer in the field of solar thermal cooling, and there are
nearly 64 installations in Europe with this proven technology, and their oldest installation is
running for the past 10 years effectively.
There are around 450 installations, some in excess of 1000 tons of cooling, are working
worldwide using this technology.
VSM Solar has installed solar air conditioning plants of both Absorption and Adsorption Chillers,
with Fraunhofer know how, to air condition their building in Bangalore.
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SAMPATH
Value Proposition to the Customer

Power saving of about 90% and lower maintenance costs ensures a payback period of less than 3 years.
Government of India (MNRE) has a scheme to provide financial support of 30% of the installation costs.
Income tax notification for 80% accelerated depreciation in the first year results in 24% saving in IT in
the first year itself. This technology is eligible for carbon credit.
System installed at VSM Solar premises
Two systems have been installed, one with Absorption and one with Adsorption system of cooling, this
is powered by the patented Ritter design of thermal collectors, Evacuated Tubular collectors with Al.
sheath and copper tubing, with an external compound reflector that does not need any tracking and is
very effective during the diffused light conditions of cloudy and monsoon periods and is controlled to
produce hot water at around 95o to 98 o C.
There are no compression chiller used and the only moving parts are a few small pumps. Solar
PV system roof top power plant has been installed for powering all the pumps, lights and the grid supply
is used only as a backup. The integrated system has all possible safety and control features and the
operating data is being logged continuously for analysis. The Chilled water produced at 8 o to 10 o C, is
used with Fan coil units with activated carbon and electrostatic filters to produce dust free, clean air to
cool the space. CO2 quantity is continuously monitored as the RH and the room temperature.
Underground chilled water storage system is used to cool the room during non-sunshine hours.
Market and Business potential of solar air conditioning:
The current annual market size in India is roughly 1.7 mill TR. (6 million KW). The Indian market, can
be subdivided into its main product categories; window A/Cs, mini split A/Cs, ducted split &
packages units, cold storage and refrigeration.
Window
(42%)
Cold
Storage
& Chillers
(17%)
Ducted
Split and
Packaged
(17%)
Mini Split
A/C (25%)
Of the 1.7 million TR of additional air conditioning requirement, at least 30% or half a million TR
(500,000 TR) can be converted to solar air conditioning, and the value will be at around Rs. 15,000
crores of business annually. Over and above that, there are more than 10 million TR of existing air
conditioning systems that can be retrofitted. It is necessary that many core industries are set up to
manufacture world class Chillers in India, both adsorption and absorption to restrain the imports.
International collaboration
The solar products manufactured in India have a good scope for export as it can be competitive. We are
working on a project in Oman and South Africa. We have been appointed as lead representative for a
large Nigerian Organisation to propagate solar solutions in Nigeria. The export potential will increase
further with enhanced local manufacturing of core products.
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Solar Energy for Air-conditioning Systems: A Case of VSM Solar Pvt. Ltd.
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Challenges
The major challenge is to make this product acceptable in the market due to higher initial investment
costs. Plenty of convincing and motivation is required to make people understand the futuristic
implications, social responsibilities and the idea of payback. Bank financing or leasing concepts may
have to be brought in to make people pay as EMI only what they would be saving on their power costs.
Conclusion
Solar is the future. The solar air conditioning results in saving electricity that could be twice as effective
production, due to the transmission and other wastages involved. It is necessary to give an impetus to
this energy saving process by policies to provide adequate incentives to initially offset the cost of setting
up these solar air conditioning systems.
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Wind-Hydro Hybrid Power Plants to Overcome the Demerits of

Standalone Power Plants
Anand Maralad
ABSTRACT: Wind and Hydro, both renewable forms of energy, economical and best alternatives to
thermal (coal based) energy to avoid harm to nature. But they too come with their baggage of demerits.
Wind does not blow when there is a peak demand for energy (i.e. during afternoons) but is at full action
in the night generating electricity when we need the least. There are no viable ways to store energy in
the scale of mega-watts either. On the other hand, hydro, the cheapest source of electrical energy
production, has geographical limitations such as elevations which are not significant enough or the
insufficient flow rate to set-up a hydro power plant.
KEYWORDS: Wind, Hydro, energy recovery, utilization, scalability
Introduction
Wind and Hydro, both renewable forms of energy, economical and best alternatives to thermal (coal
based) energy to avoid harm to nature. But they too come with their baggage of demerits. Wind does
not blow when there is a peak demand for energy (i.e. during afternoons) but is at full action in the
night generating electricity when we need the least. There are no viable ways to store energy in the
scale of mega-watts either. On the other hand, hydro, the cheapest source of electrical energy
production, has geographical limitations such as elevations which are not significant enough or the
insufficient flow rate to set-up a hydro power plant.
Opportunity
There are significant water bodies across India acting as reservoirs used for irrigation purposes. Often, if
not always, Wind turbines are co-located around water reservoirs like the one shown in this picture.
So there lies an opportunity to utilise the energy generated from wind-turbines which cannot
be stored to pump up the water from reservoir to a tank in upper hill to provide the required elevation
needed to set-up a hydro plant. While this method of storing energy is many centuries old but the
benefits of adopting are huge now as wind turbines these days generate power in the scale of megawatts and are capable of pumping up great amount of water. The energy that can be recovered could
be as high as 80%. Such a hybrid system can turn out to be a cost effective power plant due to higher
utilization factor enabling power supply according to the varying demands across the clock.
Financial viability
nd
Mr. Anand Maralad, Applied Materials India Pvt. Ltd, 2 floor, Explorer, ITPL, Whitefield, Bangalore -560066
www.ijsme.com
Wind-Hydro Hybrid Power Plants to Overcome the Demerits of Standalone Power Plants
For such system to be financially viable, capital costs required to set-up a hydro power plant have to be
recovered from energy produced from it and there has to be a subsequent increase in the bottom line
of the hybrid power plants. Let us work out a scenario with approximate costs if it makes sense or not.
We may consider a pool of wind turbines with a combined capacity of 100 MW, operating 12
hours a day, and generating 1200MW hours of energy a day. Since there is always a case of productiondemand mismatch and with absence of an energy storage system, we may consider an underutilization
of capacity, approximated at 30% or 360MW hours a day. If we consider 80% of energy recovery from a
hydro power plant which is being set up, it can produce 288 MW hours of energy on daily basis. If thus
produced energy is sold at a rate of Rs. 4 per unit, it can create a revenue stream of Rs. 11.5 lakh a day.
If we expect that this plant is operational 300 days in a year, it can contribute Rs. 34 crores of additional
revenue every year and around Rs. 690 crores in its expected life span of 20 years. If the capital costs
for setting up of this hydro power plant with a peak load capacity of 30MW are around Rs. 100 crores, it
would generate 7x returns in its life time or around 30% simple rate of return a year.
Maintenance costs are not considered here as they are minimal and an electrical distribution
grid is considered to be already present with wind-power plant is being operational. All these financial
figures are for illustration purposes only and the actual figures vary from project to project.
Policy and Regulations
Since the Governments promote production of renewable energy with many incentives, combination of
Wind-Hydro power plant would not find any resistance as a regulatory measure even though additional
approvals may be needed. Since the water being drawn from the reservoir is being returned to it, it may
not invoke any objections from stakeholders of the reservoirs, the farmers.
Adoption and Scalability
While water bodies may not always be present in the vicinity of wind farms, other alternatives such as
compressed air or thermal energy storage can be explored (on case to case basis) even though they may
not offer the similar benefits of wind-hydro combination.
But if one takes a look at the geographical chart of India, each state on an average has at least
10 locations where wind farms and water bodies are co-located. There lies an opportunity to harness
the infrastructure deployed to provide energy for growing India.
This system can be scaled and extended for projects such as linking of water reservoirs to bring
a balance in the water availability across geography instead of wasting the enormous power generated
by wind turbines when is no load.
References
1.
2.
Wind Generates Electricity When We Need It Least

(Institute for Energy and Research)
http://www.instituteforenergyresearch.org/2012/10/24/study-wind-subsidies-disproportionatelyproduce-electricity-when-we-need-it-least/
Calculating the amount of available hydro power
where
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MARALAD
P is power in watts; is the dimensionless efficiency of the turbine; is the density of water in kilograms per
cubic metre; Q is the flow in cubic metres per second; g is the acceleration due to gravity; h is the height
difference between inlet and outlet (Source: Wikipedia)
3.
4.
Picture shown is taken at Vanivilas Sagar in Karnataka

Scientific American magazine, March 2012, page 50, claims energy recovery from pumped up hydro
power plants can be 80%
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Clean Energy Achievements and Energy Security Concerns for India

K. K. Roy Chowdhury
ABSTRACT: India, despite its status as the second fastest growing economy, is still home to around 500
600 million people who are energy poor. Power sector in India should grow at a faster pace. And as of
now, this is simply not possible unless India immediately start implementing a comprehensive energy
security solution for the country with a long-term perspective.
KEYWORDS: Energy Security; Alternative Energy Sources; Green Economy
India, despite its status as the second fastest growing economy, is still home to around 500 600
million people who are energy poor. And all these when we are talking of 9-10 % GDP growth and of
the need to maintain it through an inclusive growth strategy as repeatedly stressed by our government.
This necessitates the power sector in India to grow at a matching rate, if not at a higher rate. And as of
now, this is simply not possible unless we immediately start implementing a comprehensive energy
security solution for the country with a long-term perspective.
In December 2008, our Cabinet approved the Integrated Energy Policy laying emphasis on
eliminating subsidies for fossil fuels, along with a thrust on fiscal policies that reflect the negative
externalities associated with energy resources, set the tone for leveling the playing field for renewable
energy. Subsequently, there were a host of regulatory developments that have successively improved
the business environment for renewable energy development. Devised and planned by a host of
renowned Energy Experts and Planners in consultation with multiple stakeholders through a
multidisciplinary approach and rigorous exercises, the Integrated Energy Policy was formulated. This has
been widely acclaimed. In the words of the Secretary General of the International Energy Forum, Mr.
Noe van Hulst, Indias success in tackling energy poverty and its innovative energy policy as well as its
positive approach and active participation in the global energy dialogue at the International Energy
Forum (IEF) is appreciated.
Achievements in Clean Energy Sector in India
In the run-up to COP 15 (15th Conference of Parties to the U N Framework Convention on Climate
Change) in Copenhagen in December 2009, our Government announced its intention to reduce the
Carbon intensity of its economic output by 25 % by 2020. This would require a substantial increase in
renewables capacity. Excluding large hydro, renewables capacity currently account for a modest 16.5
GW (9 %) of the installed capacity, compared with conventional thermal at 65 %. We face a capacity
deficit, and investment in generation from both renewables and thermal power is required.
K. K. Roy Chowdhury is Energy & Environment Expert based in Delhi. Views are his personal, based on a survey of
contemporary information and his knowledge on the subject. He can be contacted at roychowdhury1@gmail.com
Clean Energy Achievements and Energy Security Concerns for India
India moved up to fifth place in the world for installed wind power during the year 2009.
Capacity rose by 12 %, from 9.7 GW to 10.9 GW, during 2009, according to GWEC. If it continues to
increase at this pace, the government target of 17.5 GW by 2012 will not be attained.
In 2009, our government released the Jawaharlal Nehru Solar Mission which plans to target 20
GW of installed solar capacity by 2022. This would represent a significant increase from current capacity
which stands at just 6 MW. The power grid is under-supplied relative to demand. This causes chronic
reliability issues and the solar initiative is lauded as a means of easing this problem by establishing more
local generation. The plan also includes interim targets of 1 GW of grid-connected capacity by 2013 and
4 GW by 2017. The proposed feed-in-tariffs could make private investment in solar projects attractive
and would imply that investment in solar will pick up dramatically from present levels.
During 2009, the Indian Ministry of New and Renewable Energy (MNRE) prepared a set of
guidelines on biomass projects to provide transparent information to stakeholders. Government
sources indicate that India has a potential for 18 GW of biomass power and 5 GW of cogeneration
power from sugar mills, but it has achieved only 800 MW and 1.2 GW respectively so far.
It is true that our government has been able to highly commendably address the issue of
Climate Change through the Prime Ministers National Action Plan on Climate Change (NAPCC)
envisaging domestic actions on priority basis and at the same time responding to the global community
with due optimism for reducing the greenhouse gas emissions in an equitable manner without
jeopardising the needs and ambitions for sustainable development of a growing economy like ours. The
message is clearly in favour of a sustainable growth path. This has been acclaimed worldwide and
receiving strong support from all stakeholders and significantly from our industries.
Government of India has been under increasing global pressure to explore options for a lower
Carbon economy though it has argued in international for a, and rightly so, that while the country is
among the faster growing greenhouse gas emitters, the per capita emissions are less than a fifth of the
world average and too miniscule when compared to the US and other countries in the league. Further,
despite a growing economy, the country has actually reduced its emissions intensity (Kg of CO2 emitted
to produce one dollar of GDP) by over 17% in the past 15 years and is all set to continue this trend in
the next decade. Renewable energy forms the cornerstone of the governments strategy to meet this
voluntary goal.
Energy security is the other major driver. Indian planners project that the country will need over
800 GW of power by 2032 to meet its power demand. Unless India rapidly diversifies its domestic fuel
base, it will have to increasingly look forward to imports to meet this requirement. Indias demand base
is still heavily concentrated in oil and coal interests. Demand for natural gas is also on the increase and
negotiations with potential pipeline partners are a strong focus of Indias energy diplomacy efforts.
Between 74% and 85% of Indias energy will still be fossil fuel in the next decades. Indias practice of
building deeper relationships with producing partners through implementation of crisscross
investments across the value chain was cited by Talmiz Ahmad, Ambassador of India to the Kingdom of
Saudi Arabia, in his presentation on Global Energy Security and Indias Energy Diplomacy in
International Energy Forum Headquarters at Riyadh(Saudi Arabia) on September 27, 2010, as an
example of a win-win situation with partners common interest in energy security seeking to foster and
develop co-operation, to build new and lasting ties and even to overcome historical differences. This
was also echoed by our Prime Minister Dr Manmohan Singh while inaugurating the PETROTECH 2010 at
Vigyan Bhavan, New Delhi on November 2, 2010. He stressed on Indias need to build strong ties with
other oil producing countries to bridge the yawning gap in the demand-supply in the domestic market.
He said that in the next 10 years, while demand for oil and oil products is going to rise by 40%, the
supply from the maturing oil-fields will increase only by 12%, creating a wide gap in the demand-supply
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CHOWDHURY
balance. Most of Indias oil needs are being already met through imports, and with domestic demand
increasing more rapidly, the need to tie up with other countries for oil becomes all the more important.
In response to the theme of Global Energy Equilibrium for PETROTECH 2010, the Prime
Minister also said that demand for energy technologies go beyond just the productivity and efficiency
issues, the technologies have to be able to manage the carbon emissions. He asked for the need to
rethink on the traditional energy basket which is presently loaded in favour of fossil fuels. He expressed
hope for the future since India is already forging ahead with ties with at least other 25 oil producing
countries around the world, also saying that oil is being used all around the world not just as a
commodity but as a means to political moves as well.
At this point, it becomes imperative for us to look into the energy security risks as well, being
undertaken by the country in her quest for fossil fuels. As it shows now, India will increasingly need to
import fossil fuel to meet its domestic requirement. This further enhances Indias energy security risk
profile since much of the countrys oil imports come from the Middle East and other politically fragile
regions of the world. Further, new international finds are increasingly in areas that do not have long
histories of rule of Law. Finely balanced is international coal demand-supply too. The growing demand
for oil and gas from India and China in the international market along with the pre-existing players has
meant increased volatility in international fuel prices. And it is also reported that most incremental
energy demand growth over the next 25 years is expected to come from India and China. Will the
ongoing quest for Nuclear power lead to a solution? Certainly not at least before another 10 years as
building the envisaged nuclear power plants would take long time as associated with such facilities.
Under the emerging scenario all around, India must find out its own solutions for energy security on a
fast-track basis and devise alternative energy sources to meet the growing demand. India must redesign
its traditional energy basket with a long-term perspective.
Renewable energy resources, which India is abundantly endowed with, can definitely improve
the countrys energy security position and simultaneously offer a commercially viable alternative with a
policy push.
These two drivers, on one side the increasing global pressure to explore options for a lower
Carbon economy, and on the other side, the increasing Indias energy security risk profile, as pointed
out above, together have shaped the policy and regulatory landscape over the past two or three years
with the country getting into serious implementation mode during the last three years. We may finally
be starting a constructive discussion about how we really can respond intelligently to this challenge.
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Understanding Green Economy and Green Growth:

Some Definitions
Source: Division for Sustainable Development, UNDESA
Green economy:
1)
2)
3)
4)
5)
6)
7)
8)
One that results in improved human wellbeing and social equity, while significantly reducing
environmental risks and ecological scarcities. It is low carbon, resource efficient, and socially
inclusive. In a green economy, growth in income and employment should be driven by public and
private investments that reduce carbon emissions and pollution, enhance energy and resource
efficiency, and prevent the loss of biodiversity and ecosystem services (UNEP 2011).
A system of economic activities related to the production, distribution and consumption of goods
and services that result in improved human wellbeing over the long term, while not exposing
future generations to significant environmental risks or ecological scarcities. (UNEP, 2009).
An economy that results in improved human wellbeing and reduced inequalities, while not
exposing future generations to significant environmental risks and ecological scarcities. It seeks to
bring longterm societal benefits to shortterm activities aimed at mitigating environmental risks.
A green economy is an enabling component of the overarching goal of sustainable development
(UNCTAD, 2011).
Green economy is a resilient economy that provides a better quality of life for all within the
ecological limits of the planet. (Green Economy Coalition, 2011)
Green Economy is described as an economy in which economic growth and environmental
responsibility work together in a mutually reinforcing fashion while supporting progress on social
development. (International Chamber of Commerce, 2011).
The Green Economy is not a state but a process of Transformation and a constant dynamic
progression. The Green Economy does away with the systemic distortions and disfunctionalities
of the current mainstream economy and results in human wellbeing and equitable access to
opportunity for all people, while safeguarding environmental and economic integrity in order to
remain within the planets finite carrying capacity. The Economy cannot be Green without being
Equitable (Danish 92 Group, 2012).
The green economy involves largely new economic activities and must provide an important
entrypoint for broadbased black economic empowerment, addressing the needs of women and
youth entrepreneurs and offering opportunities for enterprises in the social economy
(Government of South Africa, 2011).
Green economy can be seen as a lens for focusing on and seizing opportunities to advance
economic and environmental goals simultaneously. (Rio+20 Objectives and Themes of the
Conference UNCSD, 2011)

Understanding Green Economy & Green Growth: Some Definitions
www.ijsme.com
Green Growth:
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
13)
Aims to foster economic growth and development while ensuring that natural assets and
environmental services are protected and maintained. The approach places a premium on
technology and innovation from smart grid systems and highefficiency lighting systems to
renewable energies including solar and geothermal power as well as on improving incentives
for technology development and innovation (Global Sustainability Panel, 2011).
Fostering economic growth and development, while ensuring that natural assets continue to
provide the resources and environmental services on which our wellbeing relies (OECD, 2011).
A policy focus for the Asia Pacific region that emphasizes environmentally sustainable economic
progress to foster lowcarbon, socially inclusive development (UNESCAP website).
Is, in general terms, economic progress that fosters environmentally sustainable, lowcarbon and
socially inclusive development. Pursuing green growth involves outlining a path to achieving
economic growth and wellbeing while using fewer resources and generating fewer emissions in
meeting demands for food production, transport, construction and housing, and energy
(UNESCAP, 2012).
Is about making growth processes resourceefficient, cleaner and more resilient without
necessarily slowing them. Development that is green [which here means resourcesefficient],
clean and resilient (World Bank, 2011).
Is the new revolutionary development paradigm that sustains economic growth while at the same
time ensuring climatic and environmental sustainability. It focuses on addressing the root causes
of these challenges while ensuring the creation of the necessary channels for resource
distribution and access to basic commodities for the impoverished. (GGGI website)
Green growth is growth that emphasises environmentally sustainable economic progress to
foster lowcarbon, socially inclusive development. The OECD definition is similar but emphasises
also green investment as a driver for economic growth. (UN DESA Rio+20 Objectives and
Themes of the Conference)
It is growth that is efficient in its use of natural resources, clean in that it minimizes pollution and
environmental impacts and resilient in that it accounts for natural hazards (World Bank, 2012).
Is growth that is efficient in its use of natural resources, clean in that it minimizes pollution and
environmental impacts, and resilient in that it accounts for natural hazards and the role of
environmental management and natural capital in preventing physical disasters. And this growth
needs to be inclusive. Inclusive green growth aims to operationalise sustainable development by
reconciling developing countries urgent need for rapid growth and poverty alleviation with the
need to avoid irreversible and costly environmental damage (World Bank, 2012)
Growth achieved by saving and using energy and resources efficiently to reduce climate change
and damage to the environment, securing new growth engines through research and
development of green technology, creating new job opportunities, and achieving harmony
between the economy and environment (RoK Framework Act on Low Carbon, Green Growth,
2010).
Defined as environmentally sustainable progress that fosters lowcarbon, socially inclusive
development (Government of Cambodia, 2009).
An emerging concept that recognises that environmental protection is a driver of global and
national economic development. It refocuses society on achieving qualitative growth rather than
simply increasing GDP (Government of Rwanda, 2011).
Means job creation or GDP growth compatible with or driven by actions to reduce greenhouse
gases. (Green Growth Leaders, 2011)
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Book Reviews
Siddhartha Mishra
South African Green

Economy Modelling Report
Publisher: UNEP, No. of Pages: 128, Year of Publication: June 2013
The study, South African Green Economy Modelling, shows that

investing in a low-carbon, resource efficient green economy is
fundamental for South Africas sustained economic growth and wellbeing.
Based on the governments current targets and expenditures,
the report identifies possible opportunities for achieving government
targets in each of these four sectors.
The report finds that a green economy approach such as investing in low-carbon technologies,
green buildings, and renewable energy can create more jobs than a business as usual approach, while
supporting the same level of economic growth, yet with lower emissions of greenhouse gases and less
environmental damage.
The study was commissioned by UNEP at the request of South Africas Department of
Environmental Affairs, with technical assistance from the Millennium Institute and the Sustainability
Institute, in collaboration with the Centre for Renewable and Sustainable Energy Studies of Stellenbosch
University. Funded by the European Commission, the United Nations Development Programme
supported stakeholder consultations and capacity building activities related to the implementation of
the project.
The Green Growth Action Alliance:

Progress Report from the First Year
of Catalysing Private Investment
Publisher: World Economic Forum, No. of Pages: 23,
Year of Publication: 2013
At the World Economic Forum Annual Meeting 2013 in DavosKlosters, three leading economic voices the presidents of the
International Monetary Fund and the World Bank and the
Siddhartha Mishra is the COO, ISSME
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Secretary-General of the Organisation for Economic Co-operation and Development delivered the
troubling message that it will not be possible to emerge from the current global economic crisis without
addressing resource scarcity and climate change. The Forums Global Risks 2013 report echoed these
views, with climate change emerging as one of the top global risks faced by mankind. It is in this context
that the Green Growth Action Alliance was created during World Economic Forum hosted Mexican B20
process and was formally endorsed at the Los Cabos G20 Summit, June 2012, with the goal to scale up
private investment in green growth. In January the Alliance also issued the Green Investment Report
2013, which identified the size of the gap in the investment required.
This first progress report of the Alliance aims to provide a blueprint for action that government,
business and civil society leaders can use to transform the global economy into an economically and
environmentally sustainable pathway. In its first year, the Alliance has developed a unique approach to
delivering new financing solutions for green growth in developing economies. It has worked to unlock
capital for clean energy in Kenya; to shape new vehicles for financing climate- smart agriculture in
Vietnam; to advance new policy and market solutions to jump- start Indias National Solar Mission; and
to transfer innovative structures for financing energy efficiency from Europe to Mexico and the Russian
Federation. It has also spurred innovation in institutional investment in green growth, bankability of
Power Purchase Agreements and green free trade.
The Green Investment Report

- The ways and means to unlock private
finance for green growth
Publisher: World Economic Forum, No. of Pages: 40, Year of Publication:
2013, ISBN-13: 92-95044-65-7 / 978-92-95044-65-4
At a time when extreme weather events are coming with increasing

frequencyand an increased price tag for clean-upcash-strapped
governments are seeking new solutions to build climate resilience. A
new World Economic Forum Report offers some hope. The Green
Investment Report: The Ways and Means to Unlock Private Finance for
Green Growth finds that approximately US$ 34 billion in additional
public funding is needed to stabilize global temperatures at an acceptable
levelless than the US$50 billion recently approved by the United States Congress for rebuilding
resilience after Hurricane Sandy. By increasing climate-related public funding from its current level of
US$ 96 billion to around US$ 130 billion, it could mobilize private capital in the range of US$ 570 billion.
This would address the US$ 700 billion in investment that the Report finds is required to put the world
on a climate-resilient path towards green growth.
The report highlights that governments need to strategically target their public finance to
attract private capital into green investment through measures such as guarantees, insurance products
and incentives, combined with the right policy support. It includes examples where governments and
public financing agencies have successfully mobilized significant amounts of private investment for
clean energy, water and agricultural investment. It concludes with a series of recommendations for
investors and governments to scale up these successes to close the green investment gap.
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The Greening of Asia and China

Publisher: Green Economics Institute, No. of Pages: 350,
ISBN: 978-1-907543-23-4
The book offers perspectives from people all over the world, from
a variety of backgrounds. It is well suited for students,
campaigners, policy makers, & anyone with an interest in Asian
countries and green economics.
Asia and China form the powerhouse of the world
economy of the 21st century, with much of the area enjoying more
than 5% GDP growth. Other parts of the region are still struggling
with deep and life-threatening poverty and inequality. Other people
are challenging stereotypes and norms. One woman is running Real Estate Company in Saudi Arabia,
one man has built an entire city on solar and renewables. Several mayors in Hong Kong and Indonesia
are leading with Green Tech, sustainable city initiatives. Japan has had its own transformation and
green awakening moment with the terrible, natural and man-made events in 2011 and Japan is
experiencing its highest debt ratio ever and so the region is not immune to the global debt crisis.
The book explores the paradoxes of the successes and challenges of two of the main BRICS,
India and China. It also considers aspects of the development of the economy of the CIVETS in Asia:
Indonesia, Vietnam and Turkey, which are also leading the world in change and development. The book
presents Asias ground breaking innovation and green tech revolution, which have successfully
challenged the worlds economic, political and institutional frameworks in this truly global world. The
book asks what global sustainability looks like in a world where each of us is dependent and interdependent on the whole human family, nature, other species, the planet and its systems?
This book is the first to try to chart the innovations and challenges that the Asian and Chinese
economic miracles are bringing from a green perspective, and to hear from voices all around the region
about the implementation of the green economy. This book sets the scene for the physical and social
environment of the 21st century, and introduces the context and features of these changes to the
reader. It also begins the discussion of the New World Order and also provides suggestions for world
government and world governance to meet the challenge of global environmental and social change
and the issues that this raises.
Vision 2050:
The new Agenda for business
Publisher: World Business Council for Sustainable Development,
No. of Pages: 80, Year of Publication: 2010, ISBN: 978-3-940388-56-8
The Vision 2050 report lays out a pathway leading to a global

population of some 9 billion people living well, within the resource
limits of the planet by 2050. This work results from an 18-month
combined effort with CEOs and experts, and dialogues with over 200
companies and external stakeholders in some 20 countries.
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The report spells out the must haves the things that must happen over the coming decade
to make a sustainable planetary society possible. These include incorporating the costs of externalities,
starting with carbon, ecosystem services and water, into the structure of the marketplace; doubling
agricultural output without increasing the amount of land or water used; halting deforestation and
increasing yields from planted forests: halving carbon emissions worldwide (based on 2005 levels) by
2050 through a shift to low-carbon energy systems and improved demand-side energy efficiency, and
providing universal access to low-carbon mobility.
Vision 2050, with its best-case scenario for sustainability and pathways for reaching it, is a tool
for thought leadership, a platform for beginning the dialogue that must take place to navigate the
challenging years to come.
Chinas Green Long March

A Synthesis Report
A study of renewable energy, environmental
Industry and cement sectors
Publisher: UNEP, No. of Pages: 36, Year of Publication: 2013
In the past 20 years, Chinas economy has increased tenfold. This

growth has lifted 660 million people out of extreme poverty.
However, it has had an environmental cost. China is the worlds
largest producer of greenhouse gas (GHG) emissions, more than 90
per cent of its urban water bodies are thought to be polluted and
outdoor air pollution is estimated to contribute to over a million
premature deaths per year in China.
The Chinese government recognises that in order to sustain its economic growth without
further damaging the environment, it must change its policies. As this study identifies, China is making
significant progress in developing renewable energy technologies, greening industry, and promoting the
environmental goods and services sector. These activities are creating jobs, economic growth and
improved well-being for citizens. However, many challenges still persist, such as fossil fuel reliance,
inadequate enforcement of environmental regulations and misplaced incentives.
This report examines five sectors solar, wind, biofuels, cement and environmental industry
providing information on recent progress and policies that are driving green development in these
industries. The report also underscores some remaining issues and puts forward recommendations on
how to overcome them.
Chinas Long Green March provides the opportunity to firmly anchor the environmental
dimensions of sustainable development into the social and economic agenda of the country, and pave
the way for further in-depth assessment to illustrate how a transition towards an inclusive green
economy can accelerate the attainment of national development goals in China.
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UNIDO Green Industry Initiative

for Sustainable Industrial Development
Publisher: UNIDO, No. of Pages: 44, Year of Publication: Oct 2011
The Green Industry initiative is one of prime objectives of UNIDO to

promote industrial development for poverty reduction, inclusive
globalisation and environmental sustainability. In the last few years,
keeping with its mandate, UNIDO coined the concept Green
Industry to place sustainable industrial development in the context of
new global sustainable development challenges.
UNIDO is a specialized and efficient provider of services in
support of the challenges of reducing poverty through productive
activities, promoting the integration of developing countries in global trade through capacity building,
and improving access to energy while fostering environmental sustainability in industry. In line with this
mandate, UNIDO has developed a Green Industry initiative to place sustainable industrial development
in the context of global Sustainable Development challenges and contribute to the transition towards a
Green Economy. The initiative was launched in 2009 during the International Conference on Green
Industry in Asia.
While UNIDOs Green Industry approaches are relevant to all types of enterprises, of all sizes
and in all sectors, primary focus is placed on SMEs that engage in industrial processing and
manufacturing, as well as on service providers. This Report argues why there is a need for green
industry and explains how to implement sustainable development practice among businesses. The
Report also substantiates with number of benefits of green industry as well as opportunities it presents,
while outlining the barriers that exist to the meaningful uptake and development of Green Industry in
developing countries.
Green Growth
From labour to resource productivity
Best practice examples, initiatives and
policy options
Publisher: UNIDO & French Development Agency,
No. of Pages: 102, Year of Publication: 2012
The international community has launched a movement for dialogue

and action around the concept of green growth.
These efforts are a response to the need to question
traditional approaches to the link between development, environment and resources.
In a world which is at risk owing to depleting natural resources, it is imperative to rethink and
advance our energy production methods and energy consumption patterns, with their major economic,
social and environmental consequences. This will involve many sectors (energy, transport, building,
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industry and more) and actors (States, public institutions, funding agencies, local authorities, private
enterprises and consumers).
A number of approaches exist there across the globe to tackle this problem, and are being
translated into strategies for national governments and businesses to pursue. Just as the increase in
labour productivity has been the driving force behind global development during the last 200 years, so
too will a dramatic increase in resource productivity underpin todays global development.
With this context as its backdrop, this book summarises and provides clear illustrations by
means of the many case studies it presents of the multiple (institutional, economic and operational)
facets of the concept of green, solidarity-based growth. By focusing the readers attention on the need
to reconsider production facilities from a perspective of the efficiency and productivity of natural
resources, the guide provides an innovative yet pragmatic approach to effectively implementing the
principles underlying the concept of green, solidarity-based growth.
Green Economy Report

Towards a Green Economy: Pathways to
Sustainable Development and Poverty
Eradication
Publisher: UNEP, No. of Pages: 631, Year of Publication: 2011,
ISBN: 978-92-807-3143-9
Towards a Green Economy is among UNEPs key contributions to the

Rio+20 process and the overall goal of addressing poverty and
delivering a sustainable 21st century. The report makes a compelling
economic and social case for investing two per cent of global GDP in
greening ten central sectors of the economy in order to shift development
and unleash public and private capital flows onto a low-carbon, resource-efficient path.
This publication aims to set the stage for the transition to a green economy. The report
provides evidence that the transition has sound economic and social justification and offers
governments and the private sector means to contribute to the shift. Opportunities for government
include phasing out antiquated subsidies, reforming policies and providing new incentives,
strengthening market infrastructure and market based mechanisms, redirecting public investment and
greening public procurement. Options for the private sector may include understanding the opportunity
arising from a green economic transition and responding to policy reforms and price signals through
higher levels of finance and investment.
The Green Economy Report is compiled by UNEPs Green Economy Initiative in
collaboration with economists and experts worldwide. It demonstrates that the greening of economies
is not generally a drag on growth but rather a new engine of growth; that it is a net generator of decent
jobs, and that it is also a vital strategy for the elimination of persistent poverty. The report also seeks to
motivate policy makers to create the enabling conditions for increased investments in a transition to a
green economy.
A transition to a green economy is already underway, a point underscored in the report and a
growing wealth of companion studies by international organisations, countries, corporations and civil
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society. But the challenge is clearly to build on this momentum. The report offers not only a roadmap to
Rio but beyond 2012, where a far more intelligent management of the natural and human capital of this
planet finally shapes the wealth creation and direction of this world.
GEO-5 for Business

Impacts of a Changing
Environment on the Corporate Sector
Publisher: UNEP, No. of Pages: 65, Year of Publication: 2013,
ISBN: 978-92-807-3344-0
GEO-5 for Business is based on the assessment by the UN

Environment Programme (UNEP), the Global Environment Outlook 5,
which was launched in advance of the Rio+20 Summit.
The Report outlines current and future impacts of
environmental trends across a range of sectors from construction to
food. It dovetails with other assessments such as those by the UNEP-hosted International Resource
Panel that estimate consumption of natural resources will triple by 2050 unless urgent action is taken to
decouple economic growth from natural resource use.
The Report notes that not all opportunities glimpsed today may be opportunities tomorrow as
the Arctic melts many oil and gas companies are scrambling to exploit the opportunity, but may expose
themselves to a range of other risks in a fragile environment.
GEO-5 for Business recommends that businesses conduct a deeper, company-specific analysis,
taking a life-cycle approach using this report as a framework and guide.
Green Economy in a Blue World

Publisher: UNEP, FAO, IMO, UNDP, UNDESA, IUCN, WorldFish Center, GRID,
Arendal, No. of Pages: 132, Year of Publication: 2012,
ISBN: 978-82-7701-104-2
This report analyses how key sectors that are interlinked with the
marine and coastal environment the blue world can make the
transition towards a green economy. It covers the impacts and
opportunities linked with shipping and fisheries to tourism, marine
based renewable energies and agriculture.
The report concludes that a shift to sustainability in terms of
improved human wellbeing and social equity can lead to healthier and
more economically productive oceans that can simultaneously benefit
coastal communities and ocean linked industries.
This report shows how investment in a Green Economy in a Blue World pays off. The Report
also concludes that a less energy-intensive, more labour intensive, less destructive, more sustainable,
less exclusive, more integrative approach will lead to more jobs, strengthen intra-and intergenerational
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equity and empower people to economic participation and greater self-determination. The Report
suggests fiscal measures such as public private partnerships, tax exemptions and reduced interest rates
so as to unleash the potential for greening of the small and medium sized enterprises majority of which
are engaged in coastal and marine tourism.
Towards a green economy in Europe

EU environmental policy targets and
objectives 20102050
Publisher: European Environment Agency, No. of Pages: 52,
Year of Publication: 2012, ISSN: 1725-9177, ISBN: 978-92-9213-401-3
The green economy has emerged as a priority in policy debate in

recent years. But what does the concept mean in practice and how
can decision-makers measure progress towards this strategic goal?
This report provides some answers, presenting a detailed overview of
the key objectives and targets in EU environmental policy and
legislation for the period 20102050. It focuses on selected
environmental and resource policy areas, specifically: energy; greenhouse gas (GHG) emissions and
ozone-depleting substances; air quality and air pollution; transport sector emissions of greenhouse
gases and air pollutants; waste; water; sustainable consumption and production (SCP); chemicals;
biodiversity and land use.
Green Economy in a Blue World:

Pacific Perspectives 2012
Publisher: UNESCAP, No. of Pages: 114,
Year of Publication: 2012, ISBN: 978-982-9141-01-9
Green Economy in a Blue World: Pacific Perspectives offers green

economy analyses, linked to a range of policy options, to better
balance Pacific development in our pursuit of a more inclusive,
resilient, and sustainable future. For Pacific island countries, the
green economy is very much a blue economy, which is why the Pacific
Small Island Developing States (PSIDs) chose this theme.
This publication explores the concept of a green economy in the
Pacific, including a summary of the opportunities, challenges and constraints. In 2011 and 2012, a total
of 12 national assessments of opportunities for the use of green economy policies to support
sustainable development were conducted in Pacific island countries. These assessments revealed a
considerable number of green economy type initiatives across a number of key sectors such as energy,
agriculture, fisheries and marine conservation that already exist in the Pacific. Some countries have also
taken steps towards strengthening the enabling environment for a green economy through the use of
fiscal policy and innovative mechanisms to finance the transition. The Report concludes that there is a
need for consolidation of such initiatives, and for further integration into existing national planning and
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budgeting processes. A great deal could also be achieved by strengthening or better using existing
legislation and regulatory approaches.
Industrial Policy for a Green Economy

Publisher: International Institute for Sustainable Development,
No. of Pages: 68, Year of Publication: June 2013
Industrial policy, defined as a set of policies that selectively favours

the development of certain industries over others, runs counter to
the concept of a market economy and is hence a controversial
topic in economic theory. Nonetheless, governments around the
world with economies at various stages of development continue
to use such policies in order to proactively influence their
countries economic development. In recent years, environmental
considerations have increasingly shaped policy debates, and green
industries are being supported through industrial policies that target
the development of industries with relatively less harmful effects on
the environment.
The Report highlights that successful deployment of industrial policies requires a sound
enabling policy framework that is conducive to improving the business climate and economic
competitiveness more generally. A number of complementary policies are needed to overcome
potential bottlenecks, such as education policies to increase relevant skills in the domestic workforce,
R&D support, or provision of adequate infrastructure.
The publication points out a few best practices that policy-makers ought to consider when
designing such policies, cautioning that disregard for certain factors may actually have negative results
for industry growth. The Report finds that the immaturity of the sector globally and distortions induced
by the lack of international policy coordination make it harder for countries to accurately assess sectoral
progress. The report calls for pragmatic ways of assessment of policies in terms of trade-offs among
various development goals as industrial policy by definition discriminates against non-targeted sectors
of the economy.
Inclusive Wealth Report 2012

Measuring progress toward
sustainability
Publisher: United Nations University International Human Dimensions
Programme on Global Environmental Change (UNU-IHDP) & UNEP,
No. of Pages: 370, Year of Publication: 2012,
ISBN: 978-1-107-03231-6 (Hardback), 978-1-107-68339-6 (Paperback)
The preliminary findings of the Inclusive Wealth Report (IWR)

initiative are presented in this publication: they provide for
policymakers an initial analysis towards a broader and
comprehensive way of measuring inclusive progress within their
economies.
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This report, produced by the UN University International Human Dimensions Programme on

Global Environmental Change and UNEP, builds on the findings of the Millennium Ecosystem
Assessment of 2005. It echoes, too, the conclusions of the Stiglitz-Sen-Fitoussi Commission of 2009
which argued that measuring well-being requires a shift from conventional production indicators to
metrics that incorporate non-economic markets-based aspects of well-being, including sustainability
issues.
The preliminary IWR gives an overview on the evolution of some relevant categories of natural
capital, such as forests, for a range of countries over a 19-year period, comparing their decline or
increase against two other areas: produced capital, such as roads and factories; and human capital,
including levels of education, knowledge, and creativity. The preliminary findings indicate that it is
possible to trace the changes of the components of wealth by country and link these to economic
growth, including highlighting the impact of declines or increases in natural capital as an economic
productive base.
The report presents a vision for a sustainable planet, just society, and growing economy, as
well as 56 policy recommendations for realizing that goal. It is arguably the most prominent
international call for a radical redesign of the global economy ever issued.
The IWR represents a crucial first step in transforming the global economic paradigm, by
ensuring that we have the correct information with which to assess our economic development and
well-being and to reassess our needs and goals. While it is not intended as a universal indicator for
sustainability, it does offer a framework for dialogue with multiple constituencies from the
environmental, social, and economic fields.
UNIDO Green Industry

Policies for supporting Green Industry
Publisher: UNIDO, No. of Pages: 88, Year of Publication: May 2011
The Green Industry vision grasps the potential for industries to

decouple economic growth and revenues from excessive and
increasing resource use and pollution. It foresees a world where
industrial sectors minimize waste in every form, utilise renewable
resources as input materials and fuels, and take every possible
precaution to avoid harming workers, communities, climate, or the
environment. Green industries will be creative and innovative,
constantly developing new ways of improving their economic,
environmental and social performance.
This Policies for supporting Green Industry identifies the policies and best practices that can
make this vision a reality. It covers a broad range of policy instruments, with particular focus on the
relevance of such policies to the development of industry. This report identifies the broad range of
policy measures required by national or federal governments to promote and facilitate the greening of
industries. It has been prepared as part of the UNIDOs Green Industry initiative.
The report focuses on Small to Medium Enterprises (SMEs) in the manufacturing sector.
However, the issues raised are equally relevant for other industry sub-sectors (e.g. services and
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extraction sectors). Emphasis is placed on policies which impact sustainable production rather than
consumption, although it is acknowledged the two concepts are inextricably linked. The policies and
initiatives identified in this report cover a broad spectrum of issues, involving multiple government and
non-government stakeholders, underscoring the need for strong institutional integration, and a
comprehensive mix of supporting policy initiatives. The policy and practice measures identified in this
report have been organised into five themes, which reflect the nature of policy instruments, the issues,
and the players involved.
Beyond Rio+20:
Governance for a Green Economy
Publisher: Boston University, No. of Pages: 106,
Year of Publication: Mar 2011, ISBN: 978-0-9825683-8-5
As an intellectual contribution to the Rio+20 preparatory process, the

Boston University Frederick S. Pardee Center for the Study of the
LongerRange Future convened a small task force of experts to discuss
the role of institutions in the actualization of a green economy in the
context of sustainable development.
The report includes papers by experts from academia,
government, and civil society on what the world has learned about institutions for sustainable
development from the past, and what can be proposed about the governance challenges and
opportunities for the continuous development of a green economy in the future. Based on these
papers, the report synthesizes six recommendations for the Rio+20 process: think boldly and move
incrementally; take economic policy seriously; recognise what is working and what is not working; make
implementation the focus; the state remains central but nonstate actors have to be better
accommodated; and put equity at the center.
The Report provides international decision-makers at the United Nations and elsewhere a fresh
and diverse set of perspectives concerning the ongoing quest for institutional and governance
frameworks that can help foster sustainable development globally.
PRE-SME Promoting Resource Efficiency

in Small & Medium Sized Enterprises
Industrial training handbook
Publisher: UNEP & UNIDO, No. of Pages: 141,
Year of Publication: 2010, ISBN: 978-0-9825683-8-5
With increasing resource prices and expanding environmental market

demands, continuous improvement of the efficient use of energy,
water, materials, and the safe management and use of chemicals, will
increasingly become key factors in determining the competitiveness
and sustainability of global industrial markets. SMEs operating under
limited technical and institutional capacities require support to
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BOOK REVIEWS
overcome these challenges and to continue to contribute to their national economies. The challenges of
SMEs in developing countries are further compounded by the lack of technical capacities necessary to
provide support services to these industries. Over the years, UNEP and UNIDO have been working to
overcome this challenge by promoting the establishment of National Cleaner Production Centres
(NCPCs) and by developing cleaner production tools and techniques that industries can customise and
implement.
The PRE-SME Resource Kit builds upon the lessons and experiences from the cleaner production
activities and presents a comprehensive technical resource kit that could serve as a basis for the
development and implementation of an integrated and continuous Resource Efficiency programme in
SMEs. The Resource Kit is primarily targeted to NCPCs and Technical Support Institutions involved in
promoting Resource Efficient and Cleaner Production (RECP) in Developing and Transition Economies.
The Kit also provides SMEs executive level management with the rational for implementing more
resource efficient operations as well as a management tool for setting-up an industrial Resource
Efficient implementation plan. Furthermore, a detailed step-by-step guide is included for SMEs
production and technical managers, focusing on key areas for the development and implementation of
a Resource Efficiency improvement programme. The Kit is designed to be accessible, interactive, and
can be customised to fit individual and site-specific needs for the maximum benefit of each SME. Users
are very much encouraged to make use of the material in the Kit by repackaging the information
provided in response to the specific case of application.
Putting Green Growth at the

Heart of Development
Publisher: OECD, No. of Pages: 193, Year of Publication: 2013,
ISBN: 97892-64-18112-0 (print), 97892-64-18114-4 (pdf),
ISSN: 2222-9515 (print), 2222-9523 (online)
By 2050, the number of people inhibiting in the world will rise to 9

billion, which means there will be immense pressure on social and
environmental systems with increasing demands for food, water and
energy. Hence, there is an urgent need to put in place policies that
provide for sustainable and inclusive growth to address these
challenges.
Rapidly accelerating growth in developing countries raises the stakes for investments in
development but also the opportunities to choose how to develop. Green models for development
offer an alternative that relies on and values natural assets which are essential to the well-being and
livelihoods of people in developing countries. Putting Green Growth at the Heart of
Development explains why green growth is vital to secure a more sustainable future for developing
countries.
The report proposes a twin-track approach to guide national and international action to support
green growth in developing countries. Covering 74 policies and measures from 37 countries and 5
regional initiatives, this publication outlines an action-oriented twin-track agenda to guide national and
international policies and practices to successfully tackle green growth.
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International Journal for Small and Medium Enterprises, Vol. 3/ Issue 1: Jan-March, 2014; pp. 109-125
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Select International Declarations on

Green Economy, Green Growth and Green Enterprises
Siddhartha Mishra
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
OECD Declaration on Green Growth adopted at the Meeting of the Council at Ministerial level,
Paris, France on 25 June 2009
Johannesburg Declaration Adopted at Africa Energy Ministers Conference Johannesburg, South
Africa: September 16, 2011
Laxenburg Declaration On Population and Sustainable development on Population and
Sustainable Development adopted at the expert panel convened at the International Institute for
Applied Systems Analysis (IIASA) Vienna, Austria: September 30-October 1, 2011
Manila Declaration on Furthering the Implementation of the Global Programme of Action for the
Protection of the Marine Environment from Land-based Activities adopted at the
Intergovernmental Review Meeting on the Implementation of the Global Programme of Action
for the Protection of the Marine Environment from Land-based Activities, Manila, Philippines:
January 26, 2012
Joint Belgrade Declaration on Climate Change and Green Economy BSEC contribution to Rio +
20, Belgrade, Republic of Serbia, 23 April 2012
Green Industry Platform, Statement of Support Launched during United Nations Conference on
Sustainable Development (Rio+20), which took place in Rio de Janeiro, Brazil on 16 June 2012.
The Natural Capital Declaration launched at the United Nations Rio+20 Earth Summit in 2012,
Rio de Janeiro, Brazil: June 15-22, 2012
Final declaration at Peoples Summit at Rio+20 for Social and Environmental Justice in defence
of the commons, against the commodification of life, Rio de Janeiro, Brazil: June 15-22, 2012
G20 Leaders Declaration at Los Cosbo, Mexico during June 18-19, 2012
Vladivostok Declaration Adopted at the 20th APEC Economic Leaders Meeting Vladivostok, Russia:
September 8-9, 2012
Bonn Declaration Green Economy Offers Solutions for Global Challenges at 3rd International
Conference on Sustainable Business and Consumption (SusCon) held in Bonn, Germany on
November 27-28, 2012
The Earth Dialogues Geneva Declaration on Action for a Peaceful and Sustainable World Geneva,
Switzerland: September 2013
G20 Leaders Declaration, Saint Petersburg: September 5-6, 2013
2013 Costa Rica Declaration Adopted at BYND2015 Global Youth Summit, Costa Rica: September
9-11, 2013
2013 APEC Leaders Declaration Bali Declaration Resilient Asia-Pacific, Engine of Global
Growth Oct 2013
Lima Declaration Towards inclusive and sustainable industrial development at 15th Session of
UNIDO General Conference, Lima, Peru: December 2, 2013
www.ijsme.com
Select International Declarations on Green Economy, Green Growth and Green Enterprises
Green Industry Platform

Statement of Support Launched during
United Nations Conference on Sustainable Development (Rio+20)
Rio de Janeiro, Brazil: 16 June 2012
1.
We, heads of governmental, business and civil society organisations from around the world, are
proud to hereby declare our support for the Green Industry Platform (the Platform). The
Platform is a voluntary multi-stakeholder partnership established by UNIDO, UNEP and partner
United Nations organisations. It is designed to provide a framework for participants, individually
or in groups, to take specific and measurable action to advance Green Industry and move beyond
business as usual in all countries and business organisations and at all levels: international,
regional, national and local.
2.
We do so at this important time in history because we share a common understanding that:

a) Sustainable development is the principal objective of all countries, and that industrial
development and innovation are critical prerequisites to reducing poverty, creating decent jobs,
ensuring food, energy and water security, delivering sustainable goods and services worldwide,
and raising living standards for all;
b) Our current systems of production and consumption are unsustainable and are causing rapid
resource depletion, pollution, degradation of ecosystems and the threat of climate change, with
potentially irreversible and disastrous consequences, some of which are already being witnessed
and are causing further hardship, in particular to poor communities in developing countries;
c) Meeting the requirements of the growing world population will further increase pressure on
agricultural production and resource availability. With their combined effects of employment
gains and food, energy and water security, sustainable and efficient value chains in these areas
can play a key role in reducing poverty while contributing to environmental protection the world
over;
d) To reduce exposure to the potential political, social, economic and environmental risks posed by
the depletion of natural capital, all future industrial growth that developing countries are
currently engaged in or embarking upon needs to be accompanied by enhanced efforts to
increase the productive use of natural resources and reduce wastes, pollution and emissions if the
benefits of development are to be widely shared and lasting;
e) The only way to ensure sustained development is to decouple economic growth from resource
use and pollution, including through the progressively more efficient use of raw materials, energy,
water and land, through such measures as improved design and technological and social
innovation;
f) Achieving the necessary change will not be achieved through business as usual practices but will
require concerted action on the part of government, business and civil society, working both
individually and collectively.
3.
We further recognise that while encouraging progress has been made in this area in some
countries and sectors, one of the biggest challenges of our age is to achieve a situation where
high resource productivity and high levels of social and human development are combined with
low per capita resource consumption.
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Declarations on Green Economy, Green Growth and Green Enterprises
4.
We are convinced, however, that there is large untapped potential for providing the goods and
services needed by humankind in ways that use raw materials and energy and water more
efficiently, through Green Industry, a process that is both technologically and economically
feasible and proven and can contribute significantly to sustainable development;
5.
We understand Green Industry to mean an approach to industrial production and development

that does not come at the expense of social, economic or ecosystem health and does not require
the ever-growing use of natural resources and pollution for growth and expansion. Green Industry
is aimed at mainstreaming environmental and social considerations into national policies and the
operations of enterprises, while at the same time promoting industrial innovation,
entrepreneurship, competitiveness and the creation of green jobs, thereby contributing
concretely towards sustainable development.
6.
We recognise the importance of networks and partnerships among and across international
organisations, public and private sector, and civil society to accelerate sustainable development
and prosperity. Networks and partnerships allow for an effective use or resources, enhanced
sharing of knowledge and best practices, more targeted policy design and a more participatory
approach to cooperation for development which takes into account a large number of
stakeholders.
7.
We agree on the critical role of a new international initiative to give the scaling-up of green
industrial practices the necessary focus, framework and momentum. Drawing on, among others,
the leadership provided by the UNIDO Green Industry Initiative launched in September 2009 at
the International Conference on Green Industry in Asia held in Manila, Philippines, and the followup Conference in November 2011 in Tokyo, Japan, we welcome the establishment of the global
Green Industry Platform.
8.
The objectives of the Platform are to create new green industries and help existing industries
improve their contributions to social and economic development, to ecological protection, and to
the emergence of a more innovative, responsive and resilient manufacturing base. It will achieve
this by providing a framework where signatory organisations can jointly raise awareness of the
benefits of Green Industry, develop road maps to integrate Green Industry policies and practices
in organisational strategies and business plans, and share and profile best practices to move
beyond business as usual.
9.
We constitute and integrate the Platform as a partnership framework to bring together leading
stakeholders from the government, private sector and civil society sectors where Green Industry
information, policies and practices can be shared, assessed, improved and promoted at the
global, regional, national and local levels, as well as at the level of individual organisations.
10.
In signing this Statement of Support for the Green Industry Platform, we commit to advance these
objectives. In particular, we will actively promote the following Green Industry Policies and
Practices, and within their scope set concrete targets and report on our progress against them:
Improve Resource Efficiency

Strengthen Waste Management
Reduce and Eliminate Toxic Materials
Use Energy Efficiency and Renewable Energy
Adopt a Lifetime Approach to Product Manufacture
Make Finance Available to Green Industry
Promote Technology Transfer and Share Best Practice
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Green Global Value Chains

Support Green Industry Research and Innovation
Encourage Green Industries and Jobs
Set Green Industry Targets
Concrete examples of ways in which these Green Industry Policies and Practices can be advanced are
set out in Annex A.
11.
In seeking to implement the Platforms objectives, we will adopt such management policies,
practices, and technologies as are appropriate for our organisation. In particular, we will:
Promote awareness of Green Industry and the Platforms objectives within our organisations and
with partners and external stakeholders;
Integrate a Green Industry approach in our overall organisational strategy and road map,
including our value chain, drawing on the Policies and Practices noted above;
Explore, encourage and provide incentives for actions to advance and implement the objectives of
the Platform and its Policies and Practices;
Seek opportunities to develop joint approaches, including common resource efficiency targets, to
advance Green industry, using the synergies, strengths and skills of partner organisations;
Participate in Platform working groups and other initiatives as may be agreed to develop
proposed road maps and options for specific countries, regions or sectors to assist their transition
to Green Industry;
Advocate public policies, international agreements and actions that help to stimulate Green
Industry, and support policy reform to eliminate perverse or inconsistent trade, development and
economic policies;
Review and report on progress on our organisations initiatives and achievements on an annual
basis.
12.
We will work with UNIDO, UNEP, partner United Nations organisations and other signatories to
ensure the effective governance and management of the Platform as a flexible, voluntary, multistakeholder, framework for effectively promoting Green Industry around the world.
13.
By signing this Statement of Support, we engage to help advance the Platforms objectives for a
period of three years (2012-2015) and to contribute to a review of its achievements before the
end of 2015, when a decision will be made as to any changes that might be made to its mission,
governance and operating model.
ANNEX A
Global Green Industry Platform: Policies and Practices
The list below provides some of the rationale for the Green Industry Policies and Practices, together
with examples of specific and measurable actions that can be taken to advance the Platforms
objectives.
a) Improve Resource Efficiency Sustainable use of renewable and non-renewable raw materials can
be promoted by actions including increasing material productivity, selection of materials with a
longer service lifetime, reducing the use of virgin materials, recycling and reusing materials,
conserving water and protecting waterways and by encouraging waste water recovery and
recycling.
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b) Strengthen Waste Management Employee, community and ecosystem health will benefit from
actions to identify, reduce and dispose of waste responsibly, including hazardous waste, and ewaste, such as by using waste as a raw material, and by energy and resource recovery.
c) Reduce and Eliminate Toxic Materials Business and community risks can be reduced through the
reduced use and ultimate elimination of toxic materials as persistent organic pollutants (POPs).
This can be achieved by actions such as avoiding their use in product design and manufacturing
processes, by preventing releases into the environment and use of safe destruction techniques,
and by their replacement with safer chemical substitutes and non-chemical based alternatives.
d) Use Energy Efficiency and Renewable Energy Expanded use of energy efficiency and renewable
forms of energy can be achieved through actions such as substituting fossil fuels with renewable
energy sources, reducing energy intensity in manufacturing processes, and reducing energy waste
through co-generation and energy cascading.
e) Adopt a Lifetime Approach to Product Manufacture Products continue to have a social,
economic and environmental impact after their manufacture and sale. This is why it is important
that a Life-cycle approach be adopted. By incorporating smarter design, products can have
enhanced durability, require fewer resources during use, are easier to reuse or recycle, and cause
no or less harm when disposed of.
f) Make Finance Available to Green Industry The expansion of Green Industry technologies can be
accelerated by measures to promote investment in research, manufacturing and marketing. The
provision of finance and financial incentives, such as tax relief, subsidies, removing bottlenecks to
capital flows, concessional loans and green procurement, to start-ups in green sectors and to
companies actively promoting low-carbon renewable energy and resource efficient technologies
are examples of actions that can be taken.
g) Promote Technology Transfer and Share Best Practice Modern information technologies make
sharing of information faster and easier than ever, with huge potential for mutual benefits. While
fully respecting intellectual property rights, the transfer of technology and information on best
practices including on a South-South basis can be used along the value chain to improve such
aspects as the reliability of supply, the efficiency of manufacturing processes, and the stimulation
h) Green Global Value Chains Value chains can have negative impacts on the environment during
extraction, production, processing, transportation, use and disposal. The value chain may also be
affected by environmental degradation, which can lead to reduced productivity and increased
production cost and risk. Greening of the value chain, for example reducing emissions by fostering
technical change, can contribute to achieving both efficiency and productivity targets.
i) Support Research and Innovation In technology revolutions throughout history, research and
innovation have played a crucial role. A positive enabling environment for research and
innovation can be created by measures such as promoting education on Green Industry,
establishing and expanding national learning and innovation hubs that bring together regulators,
industry and academia to explore how priority sectors can be transformed through research,
technology development and training.
j) Encourage Green Industries and Jobs Green Industries have huge potential for creating new and
attractive jobs in expanding the manufacturing and service sectors. Combined with training and
capacity building programs, and market incentives, there is wide scope for greening existing
industries and for creating new green manufacturing businesses. This can be done, for example,
by building on the successes of companies that offer design and implementation of energy saving
projects, material and energy conservation, power generation (e.g. renewable energy),
distribution (e.g. Smart grids), and financial engineering, as well as providing entrepreneurship
training and supporting cluster networks.
k) Set Green Industry Targets Setting targets is a proven management tool for unlocking creativity
and improving organisational performance. As part of an overall business plan, financial and
Green Industry targets can be complementary, resulting in lower operating costs and risks, and
increased competitiveness. Examples of Green Industry targets include for specific sectors or
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technologies (e.g. energy), reduction of specific pollutants (e.g. CO), increasing material and
energy efficiency, and switching to renewable energy sources.
http://www.greenindustryplatform.org/wp-content/uploads/2012/11/Green-Industry-Platform-Statement-of-Support.pdf
Joint Belgrade Declaration

on Climate Change and Green Economy
- BSEC contribution to Rio + 20
Belgrade, Republic of Serbia: April 23, 2012
We, the Ministers in Charge of Environmental Protection and Heads of Delegations of the BSEC Member
States having met in Belgrade, Republic of Serbia, on April 23, 2012 and
Acknowledging the global challenges in the 21st century, particularly the impacts of climate
change which requires urgent global solutions as well as regional cooperation in the spirit of
international agreements and instruments, in particular Rio Declaration and Agenda 21
Taking into account the BSEC Action Plan for Cooperation in the Field of Environmental
Protection
Recognizing that the wider Black Sea area is vulnerable to climate change which has local and
regional impacts on the environment and socio-economic development, and the need for the BSEC
Member States to work towards promotion of environmentally sound mechanisms and proactive
solutions for facing and overcoming challenges and problems,
Welcoming the approaches in the wider Black Sea area towards green development mentioned
in the Joint Declaration on Combating Climate Change of the Council of Ministers of Foreign Affairs of
BSEC (Thessaloniki, 26 November 2010), which aims to reaffirm the role of the BSEC as a leader in the
regional cooperation
Recognizing that the enhancement of cooperation among the BSEC Member States shall
contribute to giving higher priority of climate change issues in national and regional agendas and
promoting the investments in green economy which will bring positive changes in socioeconomic
development
Being aware that the promotion of green economy concept in synergy with the response to
climate change will assure the sustainable development of the wider Black Sea area and maintain a
long-term development process to the benefit of all
Recalling that the UNFCCC Cancun Adaptation Framework invited all Parties to enhance action
on adaptation by fostering climate-related observation and research in order to provide decision
makers at national and regional levels with improved climate-related data and information, which could
serve as a basis for adaptation and disaster risk reduction programs of action linked also to the Hyogo
Framework implementation
Acknowledging the green economy as a means to achieve sustainable development, to protect
and preserve the natural resources, to secure economic valuation of ecosystems services and goods,
and to move the BSEC area towards low carbon development
Convinced that green economy policies and measures provide opportunities to all BSEC
Member States to facilitate the integration of economic development with environmental sustainability
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Noting that transition to green economy requires intersectoral policy coordination, capacity
building, regional trans-boundary cooperation, technology development and transfer, additional
financial resources, particularly in the case of public sector support to private businesses and industry
Determined to enhance cooperation among the BSEC Member States on promotion of the
policies and actions aimed at combating climate change
Have agreed to:
Encourage the Member States to develop their national green economy pathways and low
carbon policies and enhance appropriate measures;
Strive to identify applicable common approaches on combating climate change and promoting
a green economy, benefiting from results and achievements at the national levels and regional and subregional initiatives and projects;
Develop regional approaches on climate change measures with respect to the capabilities of
the countries ensuring energy security and sustainable development;
Continue efforts on forward-looking approaches in the BSEC region towards green
development, as a part of coordinated regional response to climate change and a basis for sustainable
development, that will enhance economic activity, investment, entrepreneurship and employment, by
also focusing on a gradual turn towards new technologies, including cleaner energy and higher energy
efficiency projects;
Urge the involvement of all major stake holders, including private and public sector, civil society
organisations, in combating climate change impacts and achieving a green economy in the context of
sustainable development through the establishment of innovative partnerships, promotion of voluntary
initiatives and exchanging experience;
Support transition towards carbon neutral and green growth through relevant policies, fiscal
innovations, reforms, environmental incentives, removing of environmentally harmful subsidies,
valuating of ecosystem goods and services, introducing/using system of environmental and economic
accounting and other necessary measures;
Invite the respective governments to take innovative adaptation measures, in terms of disaster
risk reduction and preparedness, early warning, prevention of water stress due to deteriorating climate
conditions;
Call for development of portfolio of common adaptation-related actions, using existing
infrastructure and institutional framework of the wider Black Sea area;
Enhance partnership cooperation between BSEC and UN, OECD, EU and other international
organisations, regional and sub-regional institutions and initiatives on carbon neutral and green
inclusive growth;
Encourage greater involvement of BSEC in securing access and diversification of financial
resources for development and implementation of green economy and climate related programs,
projects and activities;
Commit ourselves to contributing to the success of the forthcoming World Summit Rio + 20;
Express our appreciation and gratitude to the Ministry of Environment, Mining and Spatial
Planning of the Republic of Serbia for the successful organisation of this Meeting and for the warm
hospitality extended to us during the Meeting.
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http://www.uncsd2012.org/content/documents/625Joint%20Belgrade%20Declaration%20BSEC%20contribution%20to%20Rio
%2020%20April%202012.pdf
The Natural Capital Declaration

Launched at the United Nations Rio+20 Earth Summit in 2012
Rio de Janeiro, Brazil: June 15-22, 2012
The Roadmap to a Green Economy
We the undersigned financial institutions wish to acknowledge and re-affirm the importance of natural
capital in maintaining a sustainable global economy. This declaration calls upon the private and public
sectors to work together to create the conditions necessary to maintain and enhance natural capital as
a critical economic, ecological and social asset. We present this declaration to the world community at
Rio+20*, as a private sector finance response to the conference theme of working towards a green
economy. This declaration has been developed based on an extensive consultation process with the
financial community over the course of 2010 and 2011, including meetings in London, Nagoya, Hong
Kong, Munich, Washington D.C. and So Paulo.
The Importance of Natural Capital
Natural capital comprises Earths natural assets (soil, air, water, flora and fauna), and the ecosystem
services resulting from them, which make human life possible. Ecosystem goods and services from
natural capital underpin productivity and the global economy. They provide services worth trillions of
US dollars per year in equivalent terms and constitute food, fibre, water, health, energy, climate
security and other essential services for everyone. Neither these services, nor the stock of natural
capital that provides them, are adequately valued in terms comparable to manufactured and financial
capital. Despite being fundamental to our wellbeing, their daily use remains almost undetected within
our economic system. Using natural capital this way is not sustainable. The private sector, governments,
all of us, must understand and account for our use of natural capital and recognise its true value in
maintaining economic growth and sustaining human wellbeing today and into the future.
Leadership from the Financial Sector
Financial institutions are an integral part of the economy and society. As the engine of global economic
growth, the financial sector can provide some of the tools required to support a transition to
sustainable development and eradicating poverty by providing loans, equity, insurance and other
financial products and services needed by companies, governments, organisations and individuals that
consider social and environmental externalities. Since virtually every economic activity can have an
impact on natural capital either directly or indirectly, through a supply chain, financial institutions have
considerable indirect ecological footprints through their customers and directly through their
purchasing decisions. These impacts can lead to material financial risks, but also to relevant business
opportunities.
At present many financial institutions do not sufficiently understand, account for and therefore
value, the risks and opportunities related to natural capital in their financial products and services
(loans, investments and insurance products) and in their supply chains. Building this knowledge, as well
as appropriate valuation and risk management tools, to take natural capital into account within financial
decision-making, are important early steps to be undertaken by the financial sector.
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As members of the financial sector, we consider ourselves key stakeholders in future

discussions about valuing and protecting natural capital and we recognise that we have a key role to
play in the reforms needed to create a financial system that reports on and ultimately accounts for the
use, maintenance, and restoration of natural capital in the global economy. However, we must do this
in consultation with government and supported by appropriate legislation and regulation.
Why Government Action is Essential Now
Because natural capital is a part of the global commons and is treated largely as a free good,
governments must act to create a framework regulating and incentivizing the private sector including
the financial sector to operate responsibly regarding its sustainable use. We therefore call upon
governments to develop clear, credible, and long-term policy frameworks that support and incentivise
organisations including financial institutions to value and report on their use of natural capital and
thereby work towards internalizing environmental costs. This can be done by:
1.
2.
3.
4.
Requiring companies to disclose the nature of their dependence and impact on natural capital
through transparent qualitative and quantitative reporting;
Using enforceable fiscal measures to discourage business from eroding natural capital, while at
the same time offering incentives to companies that integrate, value and account for natural
capital in their business model;
Endorsing and implementing international agreements, including but not limited to, those agreed
through the Convention on Biological Diversity;
Setting an example through requiring public spending and procurement to report and eventually
account for its use of natural capital;
We welcome the World Banks Wealth Accounting and Valuation of Ecosystem Services (WAVES)
initiative and encourage governments to participate.
Our Commitment at the Rio+20 Earth Summit
Anticipating that such a framework will emerge, and noting that no methodology yet exists to
adequately report or account for natural capital in the global financial system, we the endorsing
financial institutions wish to demonstrate leadership by undertaking to collaborate globally through
working groups and engagement with our customers, investee companies, suppliers, civil society, and
other stakeholders as appropriate to:
1.
2.
Build an understanding of the impacts and dependencies of natural capital relevant to our
operations, risk profiles, customer portfolios, supply chains and business opportunities;
Support the development of methodologies that can integrate natural capital considerations into
the decision making process of all financial products and services including in loans, investments
and insurance policies. We recognise that given the diversity of the financial sector, embedding
natural capital considerations will differ across asset classes and types of financial institutions. We
therefore aim to build on work undertaken through other initiatives, such as the UN-backed
Principles for Responsible Investment, the Equator Principles, the United Nations Environment
Programme Finance Initiative (UNEP FI) Principles for Sustainable Insurance, and The Economics
of Ecosystems and Biodiversity (TEEB), so that we can develop methodologies to:
A. Apply a holistic approach to evaluating bonds and equities through the integration of natural
capital considerations in environmental, social and governance (ESG) risk analysis in short,
medium and long-term growth forecasts of investee companies;
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B. Systematically consider and value natural capital in the credit policies of specific sectors, including
commodities, that may have a major impact on natural capital either directly or through the
supply chain;
C. Systematically consider and value natural capital in core insurance business strategies and
operations including risk management, risk underwriting, product and service development,
claims management, sales and marketing, and investment management.
3.
4.
Work towards building a global consensus for the integration of natural capital into private sector
accounting and decision making; supporting, when appropriate, the related work of the TEEB for
Business Coalition, and other stakeholders.
Collaborate, when appropriate, with the International Integrated Reporting Committee and other
stakeholders to build a global consensus around the development of Integrated Reporting, which
includes natural capital as part of the wider definition of resources and relationships key to an
organisations success.
By endorsement of this declaration, we wish to demonstrate our commitment to the eventual

integration of natural capital considerations into private sector reporting, accounting and decisionmaking, with standardization of measurement and disclosure of natural capital use by the private
sector.
http://www.naturalcapitaldeclaration.org/the-declaration/
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OECD Declaration on Green Growth

Adopted at the Meeting of the Council at Ministerial Level
Paris, France: June 25, 2009
WE, THE MINISTERS REPRESENTING THE GOVERNMENTS of Australia, Austria, Belgium, Canada, Chile,
the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland,
Israel, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland,
Portugal, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, the United Kingdom, the
United States and the European Community:
CONSIDERING that:
1.
Economic recovery and environmentally and socially sustainable economic growth are key
challenges that all countries are facing today. A number of well-targeted policy instruments can
be used to encourage green investment in order to simultaneously contribute to economic
recovery in the short-term, and help to build the environmentally friendly infrastructure required
for a green economy in the long-term, noting that public investment should be consistent with a
long-term framework for generating sustainable growth. Green growth will be relevant going
beyond the current crisis, addressing urgent challenges including the fight against climate change
and environmental degradation, enhancement of energy security, and the creation of new
engines for economic growth. The crisis should not be used as an excuse to postpone crucial
decisions for the future of our planet.
2.
In order for countries to advance the move towards sustainable low-carbon economies,
international co-operation will be crucial in areas such as the development and diffusion of clean
technologies, for example carbon capture and storage, renewable energy technologies, and
application of green ICT for raising energy efficiency, and the development of an international
market for environmental goods and services. Co-operation will also be essential among OECD
countries as well as with emerging economies and developing countries to reach an ambitious,
effective, efficient, comprehensive and fair international climate agreement at the 15th
Conference of the Parties of the UN Framework Convention on Climate Change (COP15) in
Copenhagen in December 2009.
3.
The OECD can, through policy analysis and identification of best practices, assist countries in their
efforts to respond to the growing policy demands to foster green growth and work with countries
to develop further measures to build sustainable economies.
DECLARE that we:

4.
STRENGHTHEN our efforts to pursue green growth strategies as part of our response to the
current crisis and beyond, acknowledging that green and growth can go hand-in-hand.
5.
ENCOURAGE green investment and sustainable management of natural resources. In this respect,
we are resolved to make further efforts to use efficient and effective climate policy mixes,
including through market-based instruments, regulations and other policies, to
change behaviour and foster appropriate private sector responses. We will consider expanding
incentives for green investment, in particular in areas where pricing carbon is unlikely to be
enough to foster such private sector responses. Such areas may include smart, safe and
sustainable low-carbon infrastructure and R&D technologies that can contribute to building a
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sustainable low-carbon society. Approaches to recognise the value of biodiversity should be

encouraged through appropriate instruments and consistent with relevant international
obligations. We are resolved to share information on green investment flows and policies, and
best practices.
6.
ENCOURAGE domestic policy reform, with the aim of avoiding or removing environmentally
harmful policies that might thwart green growth, such as subsidies: to fossil fuel consumption or
production that increase greenhouse gas emissions; that promote the unsustainable use of other
scarce natural resources; or which contribute to negative environmental outcomes. We also work
towards establishing appropriate regulations and policies to ensure clear and long-term price
signals encouraging efficient environmental outcomes. We call on other major economies to
follow the OECD countries lead.
7.
ENSURE close co-ordination of green growth measures with labour market and human capital
formation policies. We note that these can support the development of green jobs and the skills
needed for them, and ask that work on implementing the Reassessed OECD Jobs Strategy pays
due attention to this objective.
8.
STRENGTHEN international co-operation. In this respect:

We recognise that special efforts need to be made at the international level for co-operation on
developing clean technology, including by reinforcing green ICT activities, fostering market
mechanisms, and augmenting, streamlining and accelerating financing and other support to
developing countries in their fight against climate change and the loss of biodiversity, and support
in their water management. We also recognise the need to ensure that each country pursues
green growth policies, including to tackle climate change, in accordance with existing
international agreements and based on the principles of free trade and investment.
We are resolved to make every effort to reach an ambitious, effective, efficient,
comprehensive and fair international post-2012 climate agreement at COP15 in Copenhagen in
December 2009, by which all countries will take measurable, reportable and verifiable nationally
appropriate mitigation commitments or actions as well as adaptation actions, reflecting the
principle of common but differentiated responsibilities and respective capabilities.
We recognise the importance of the liberalisation on of trade in environmental goods and
services in fostering green growth. We are resolved to ensure that measures taken to combat
climate change are consistent with our international trade obligations.
We underline the special need to co-ordinate international development co-operation
activities in order to help developing countries promote green growth, recognising the role of the
OECD Development Assistance Committee in this regard.
9.
INVITE the OECD to:

DEVELOP, as a horizontal project, a Green Growth Strategy in order to achieve economic recovery
and environmentally and socially sustainable economic growth. We call upon the OECD and its
Committees to prioritise their work within their areas of expertise so as to support green growth
policies. The Strategy will analyse green growth measures in OECD as well as in major nonmember countries, and will fully take into consideration the OECD Innovation Strategy, the OECD
Environmental Outlook to 2030, the OECD work on the economics of climate change, the results
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of the Copenhagen UN Climate Change Conference of December 2009 and inputs from the IEA.
An interim report on the progress should be delivered to the 2010 MCM.
10.
INVITE Non-OECD Members, Private Sector, Civil Society and other International Organisations to:
CLOSELY COOPERATE with the OECD in line with the Declaration.
http://acts.oecd.org/Instruments/ShowInstrumentView.aspx?InstrumentID=70&InstrumentPID=67&Lang=en&Book=False
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Lima Declaration
Towards inclusive and sustainable industrial development
Adopted at 15th Session of UNIDO General Conference
Lima, Peru: December 2, 2013
1.
We, the Heads of State and Government, Ministers, and Representatives, gathered at the
fifteenth session of the General Conference of the United Nations Industrial Development
Organisation (UNIDO) in Lima, Peru, recognise that poverty eradication remains the central
imperative. This can only be achieved through strong, inclusive, sustainable and resilient
economic and industrial growth, and the effective integration of the economic, social and
environmental dimensions of sustainable development.
2.
The underlying principles of the Lima Declaration on Industrial Development and

Cooperation adopted in 19751 have stood the test of time: industrialization is a driver of
development. Industry increases productivity, job creation and generates income, thereby
contributing to poverty eradication and addressing other development goals, as well as
providing opportunities for social inclusion, including gender equality, empowering women
and girls and creating decent employment for the youth. As industry develops, it drives an
increase of value addition and enhances the application of science, technology and
innovation, therefore encouraging greater investment in skills and education, and thus
providing the resources to meet broader, inclusive and sustainable development objectives.
3.
Since 1975, economic, po litical , social and technological developments, along with
structural changes in global trade, have revolutionized the lives and livelihoods of many.
Yet serious structural challenges remain for countries at different stages of development,
foremost a m o n g w h i c h i s eradication of poverty. These challenges also include
inequalities within and between countries, unemployment and poor access to financial
resources and economic opportunities, deindustrialization, depletion of natural resources,
and the intensifying threats of environmental degradation and climate change.
4.
The Millennium D e v e l o p m e n t Goals (MDGs) have provided a common vision and

contributed t o remarkable p r o g r e s s . Significant a n d substantial a d v a n c e s h a v e
been made in meeting several of the targets in which UNIDO has been successfully
contributing. Among and within developing countries, those who have been left furthest
behind require our most urgent attention and support. We recognise that the post-2015
development agenda should reinforce the international communitys commitment to
poverty eradication through, among others, inclusive and sustainable industrial
development and underscore the central imperative of poverty eradication reaffirmed in
the outcome document of the 2013 MDG special event2 and in other relevant United
Nations documents. We acknowledge with appreciation the processes m a n d a t e d i n the
Rio+20 o u tc o m e d o c u m e n t 3 that are now underway. In this context, industrial
development has gained increasing recognition as an important driver of economic growth.
The Lima Declaration on Industrial Development and Cooperation was adopted by the Second General
Conference of UNIDO in Lima, Peru, 12-26 March 1975, at its final plenary meeting.
2
Outcome document of the special event to follow up efforts made towards achieving the Millennium Development
Goals (A/68/L.4*).
3
Outcome document of the United Nations Conference on Sustainable Development, entitled The future we want,
A/RES/66/288*.
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5.
We recall our commitment to the MDGs and we welcome the decision of the United
Nations General Assembly4 to launch a process of intergovernmental negotiations at the
beginning of its sixty-ninth session, which will lead to the adoption of the post-2015
development agenda, while we reaffirm the importance of promoting human rights, good
governance, the rule of law, transparency and accountability at all levels.
6.
We therefore deepen our commitment towards achieving inclusive and sustainable

i n d u s t r i a l development , and we reaffirm the unique mandate of UNIDO in supporting
our countries in achieving this goal.
7.
While integrating in a balanced way all three dimensions of sustainable development

economic, social and environmental we believe that the effective measures towards
inclusive and sustainable industrial development should encompass enhancing productive
capacities in a way that supports the structural transformation of the economy;
encourages economic growth and the creation of decent jobs; enhances productivity and
development, transfer and absorption of technology on mutually agreed terms,
infrastructure and technological innovation; advances trade and development,
particularly in the small and medium-sized enterprise sector, micro-industries and other
new forms of community-based entities; promotes the sustainable use, management and
protection of natural resources and the ecosystem services they provide; and supports
related research and development.
8.
We welcome the outcome document of the informal working group on the future, including
programmes and resources, of UNIDO, entitled Strategic Guidance Document. 5
9.
We stress the relevance of inclusive and sustainable industrial development as the basis
for sustained economic growth, and encourage, while respecting the processes established
by the United Nations General Assembly, appropriate consideration of the issue in the
elaboration of the post-2015 development agenda.
10.
We w e l c o m e in t h i s regard UNIDOs active engagement in t h e o n g o i n g process of

elaboration of the post-2015 development agenda in accordance with the outcome
document of the 2013 MDG special event.
11.
We recognise the diversity of ways towards sustainable development and in this regard
recall that each country has the primary responsibility for its own development and the right
to determine its own development paths and appropriate strategies.
12.
We task UNIDO, when requested, to assist Member States towards achieving enhanced
levels of inclusive and sustainable industrial development, with the aim of, inter alia,
expanding and diversifying manufacturing value added, enhancing domestic
entrepreneurial and technological capabilities for sustainable development and
competitiveness, improving in equality and access to decent jobs in industry, and reducing
the environmental impact, based on the Rio Principles. 6
13.
We c a l l u p o n U N I D O to e n h a n c e its s u p p o r t for t h e e f f o r t s of c o u n t r i e s towards

achieving inclusive and s u s t a i n a b l e industrial development. We f u r t h e r request the
4
5
6
A/68/L.4*, para. 20.
Document IDB.41/24.
Rio Declaration on Environment and Development, A/CONF.151/26 (Vol. I).
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D i r e c t o r General to r e p o r t regularly to t h e G e n e r a l Conference on UNIDOs

assistance to Member States towards achieving enhanced levels of inclusive and sustainable
industrial development and on its developmental impact.
14.
We believe that the Organisation has a particular role as the central

coordinator of international cooperation towards inclusive and sustainable
industrial development in the United Nations system and should continue to include
industry-related services so that the Organisation may fully support in all steps of the
value chain. This entails strengthening all of its functions in the fields of technical
cooperation, action-oriented research and policy advisory services, standards and
compliance, and its convening role. In this sense, the core activities and technical
cooperation to be implemented by UNIDO in this context can be expressed in terms
of building and qualitatively improving industrial capacities.
15.
In the spirit of cooperation, strengthening existing and forging new partnerships and
networks at global, regional and sub-regional levels and the full involvement o f all relevant
stakeholders to wards achieving inclusive and sustainable industrial development are
fundamental for overcoming the prevailing development challenges and achieving
prosperity. These partnerships should include, inter alia, governments, international
organisations, representatives of the public and private sectors, financial institutio ns ,
a c a d e m i a a n d civil society. With North-South cooperation remaining the core of global
development partnership, these partnerships s h o u l d also encompass f u l f i l m e n t o f
MDG commitments. Other forms of cooperation such as South-South, triangular and
multilateral c o o p e r a t i o n , a s well as other platforms, also play an essential role in this
objective.
16.
International cooperation for industrial development remains a key means for achieving
the b e ne f i t s o f industrial development. The L i m a D e c l a r a t i o n adopted in 1975
paved the way for a structured g l o b a l system of consultations between and among
industries and n a t i o n s . We believe that now is the time to strengthen international
cooperation for industrial development, which should be based on foreign direct
investment, transfer of knowledge and technology, appropriate financial mechanisms, and
new partnerships built on a broad multi-stakeholder basis, and on mutually agreed terms.
17.
We reaffirm our commitment to UNIDO as an Organisation with a unique mandate

to promote, dynamise and accelerate industrial development, within the United
Nations system, to provide services for the benefit of its Member States and the global
community through cooperation on global, regional and national, as well as on sectoral
levels; and recognise the critical contribution it makes to industrial development.
18.
We believe that the approaches

adopted by the Organisation must be
periodically reviewed to ensure that it remains aligned with agreed United Nations systemwide frameworks and responds effectively to emerging new developmental challenges. To
this end, the Organisation needs more robust and results-oriented monitoring and
evaluation mechanisms, and improved reporting f o rm a t s that better suit the
requirements of Member States.
19.
We are convinced that technical cooperation is a primary operative function of UNIDO, and
we further recognise that other, equally relevant, complementary functions, such as the
convening and partnerships role, normative functions and standard related activities as well
as policy advice (understood as assistance to the Member States in the implementation of
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norms and standards) should be enhanced and implemented through projects and
programmes. UNIDOs convening power should serve better the implementation of
technical c o o p e r a t i o n a c t i v i t i e s . We call upon U N I D O t o enhance i t s results-based
approach, with i m p r o v e d transparency and visible value for money.
20.
In this line, we welcome that the Organisation interacts with relevant international
organisations and financial institutions, w i t h a view to putting forward the objectives o f
UNIDO in the multilateral n e g o t i a t i o n s a n d activities taking place in those
organisations.
21.
In order to address current challenges faced by its Member States, UNIDO should serve as a
global facilitator of knowledge and advice on policies and strategies towards achieving
inclusive and sustainable industrial development; and should focus on the three thematic
priorities in which it has comparative advantage and expertise: productive capacitybuilding, trade capacity-building, and sustainable production and industrial resource
efficiency.
22.
The Organisation should strive to provide the full range of its development services
according to the differentiated needs of Member States, in support of their national
industrial priorities and strategies and the need for appropriate responses. Given
their u n i q u e development c h al le n g e s and n e e d s , special attention should
continue to be given to the least developed countries. Due consideration should also
continue to be given to countries with different stages of development, including,
inter alia, middle-income countries and countries with economies in transition.
23.
We recognise that the Organisation has a special role in ensuring progress towards
the achievement of the objective on inclusive and sustainable industrial development.
The Organisation should therefore promote dialogue and multi-stakeholder
partnerships in order to monitor and foster progress towards the achievement of inclusive
and sustainable industrial development.
24.
We call upon all the Member States to ensure adequate funding for UNIDO, inter alia,
through full and timely payment of assessed contributions to the regular budget and
through voluntary contributions for technical cooperation and support services in
each of its thematic priorities with cross-cutting issues, in order to meet the full level of
the Organisations core and operational activities, taking into consideration the demands
of Member States.
http://www.unido.org/fileadmin/user_media_upgrade/Media_center/2013/News/GC15/UNIDO_GC15_Lima_Declaration.pdf
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GREEN EVENTS
Conferences, Seminars & Training Programmes
Siddhartha Mishra
Sunil D Sharma
International Conference on Strategies for

Sustainable Economic Development in Green Era
Dubai, United Arab Emirates: February 1-2, 2014
Many countries are changing their approach because of turbulence in environmental issues like
weather shocks, climate change, cost of fossils and fuels to basic infrastructure and industrial planning,
desire to design more sustainable, resilient pathways to economic growth and are taking Green steps.
The conference, which is organised jointly by Centre for International Interdisciplinary Research
and Trade (CIIRT), IIDRC, University of Malaya, Universiti Putra Malaysia, Eurasian National University,
Financial Academy Astana and Universiti Kebangsaan Malaysia, will discuss on sub-themes: financing a
green economy; creating and sustaining green industries; opportunities for more sustainable transport
and tourism industry; and international initiatives, standards and regulatory framework.
http://www.ciirt.com
SolarTech Germany 2014

Berlin, Germany: February 10-11, 2014
SolarTech Germany 2014 is a strictly business-to-business conference, where solar technology
innovation frontrunners meet. The conference addresses the current and future issues for the entire
European market. Concurrently, there will be an exhibition.
Over two days of sales conversations, meetings with customers, suppliers and new contacts,
top insights from seasoned industry experts and - above all - high-level networking, the event will bring
together top solar energy technology companies, project finance providers, developers and installers.
The major attractions of the event are: high profile speakers and experts; networking
opportunity with who's who of the regional and international solar energy industry; Technology update
in the exhibition area; and extensive finance advice on developing commercially profitable solar energy
projects with case studies.
http://www.greenworldconferences.com/produkt_81_solartech_germany_2014.htm

Sunil D Sharma is the Secretary General, ISSME
Green Events: Conferences and Seminars
GreenBiz Forum 2014

USA: February 18-20, 2014
GreenBiz Forum 2014 brings together an unprecedented partnership between GreenBiz Group, The
Sustainability Consortium, and the Global Institute of Sustainability at ASU to give attendees an
unparalleled in-depth look at the key challenges and opportunities facing sustainable business today.
This seventh edition of GreenBiz Forum, as always, will be framed by the annual State of Green Business
report.
This years Forum will see the unveiling of two new components of the report: the Natural
Capital Leadership Index, produced in partnership with Trucost, the first-ever ranking of companies that
are decoupling growth from environmental impact; and the GreenBiz NGO Ranking, the first-ever
business assessment of activist groups influence and credibility. The Forum will feature plenary panels
on both pieces of research.
Approximately 500 participants, including corporate sustainability professionals, government
leaders, policy makers, academics, entrepreneurs, venture capitalists, service providers, nonprofits, and
regional economic development and business organisations.
http://www.greenbiz.com/events/greenbiz-forum/2014/02/arizona
Green Data Center Conference

San Diego, CA: February 25-27, 2014
The Green Data Center Conference examines the ROI of enhanced data center efficiency. This landmark
event in southern California will bring together data center owners and operators for a series of
interactive workshop sessions and case study presentations from some of the most innovative facilities
in the world.
This years installment will focus on innovations in green power and cooling. It will also
highlight some pressing building and development issues to consider when commissioning a new
facility. In addition, two interactive tours have been incorporated throughout the program to give the
participants real life examples and best practices that participants organisations can immediately
institute.
http://greendatacenterconference.com/gdcon-2014-san-diego/
MiaGreen Expo & Conference (6th edition)

Miami, USA: February 27-28, 2014
The MiaGreen Expo & Conference is the only event in the United States providing access to the evergrowing, non-stoppable green, renewable and sustainable markets for ALL the Americas.
With its unique marketing mix (USA + Latin America & the Caribbean), MiaGreen has developed
as the one-stop, all-inclusive, interactive conference and marketplace for sustainability, combining a
major trade show with front edge extensive educational and networking programs.
http://www.miagreen.com/
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First Global Conference on UN Partnership for

Action on Green Economy
Dubai, UAE: March 4-5, 2014
The Partnership for Action on Green Economy (PAGE) drives a multi-stakeholder and participatory
approach to create inclusive, sustainable societies. Green Economy for Sustainable Development:
Progress and Prospects is the theme of the conference.
The inaugural PAGE conference, under the patronage of H.H. Sheikh Mohammad Bin Rashid Al
Maktoum, Vice President and Prime Minister of the UAE, ruler of Dubai, demonstrates the UAEs
commitment to support and promote the adoption of the Green Economy at the international level.
The conference is aligned with UAE vision 2021 and UAE Green Growth Strategy announced on January
2012 under the slogan Green Economy for Sustainable Development.
The conference will be an opportunity to review the progress on implementing the Green
Economy in the context of sustainable development and poverty eradication following Rio+20, and also
a chance to consider how greener economies can contribute to the emerging post-2015 development
agenda and new global architecture for sustainability. Moreover, the conference will explore the
context of the social benefits of transitioning to inclusive, environmentally friendly and resourceefficient green economies.
The objectives of the conference are to take stock of best practices and lessons learned in
advancing an inclusive green economy through policy reforms and shifting investment into key areas of
the economy that produce jobs, social equity and income; share this knowledge through interactive
thematic sessions geared toward developing a set of general principles and policy recommendations to
realize economic, social and environmental benefits from transitioning to inclusive green economies;
and explore the multiple pathways and partnerships including PAGE - available to countries as they
lead these transitions within their national contexts.
Green Plastics & Their Building Blocks

Las Vegas, NV, USA: March 4-6, 2014
The 2010s appear to be lighting up the spirit of innovation in the field of chemicals/polymers in
a manner similar to the one during 1930s to 1960s that led to the mighty Plastics Industry. This
time the industry is in pursuit of manufacturing the traditional polymers as well as opening the path for
newer materials but from renewable food / non-food biomass, thereby reducing dependence on crude
oil.
http://www.BioPlastConference.com
Save the Planet - Waste Management,

Recycling, Environment Exhibition & Conference
Sofia-Capital, Bulgaria: March 5-7, 2014
The countries in South-East Europe no matter they are EU members or not, they are all aiming in
becoming a part of the vision of the European recycling society. Most of the countries, EU members,
incl. Romania, Bulgaria, Greece, Croatia, have to meet specific EU objectives. The countries must recycle
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50 % of its waste by 2020 and reduce the disposal of biodegradable waste to 25 % of total volume. The
demand for separating -, baling- and recycling machines has been increased and many international
companies have entered the Regional market.
Growing waste is a huge challenge for the countries in South-East Europe. The Save the Planet
Conference will present the most modern environmental solutions and practices for solving the multiple
problems. It is an efficient networking platform and will outline good opportunities for the privatepublic partnerships between business and municipalities. Save the Planet Exhibition encourages the
technology transfer to the South-East European market, which is in a major need of advanced
equipment in the waste management, recycling and environment sectors. It will provide participants
with a quick market entry opportunity they will meet face-to-face new partners and customers,
searching for innovative products & services needed to achieve their waste minimization and recycling
goals.
http://www.eco.viaexpo.com/en/pages/waste-management-recycling-exhibition
10th Energy Efficiency &

Renewable Energy Congress and
Exhibition for South-East Europe
Sofia-Capital, Bulgaria: March 5-7, 2014
The Congress will bring together for the 10th year in a row all relevant players from the Region: from the
energy sector, grid operators and utilities, building industry, finance and state administration. It will
emphasize the best environmental practices and will shape the challenges in the energy sector in SouthEast Europe. South-East Europe is a part of the global green revolution - nearly 300 billion euros will be
invested by 2020 in regional energy infrastructure, which will boost the economy by developing allrenewable energies and energy efficiency.
The exhibition corresponds to the world trends and presents latest energy efficient solutions,
systems for energy storage, technologies for the production of bio-, hydro, solar, geothermal and wind
energy, energy from waste and electric vehicle innovation.
http://www.eeandres.viaexpo.com/en/index
International Trade Fair and Conference for Energy

Efficient Buildings
Messe Stuttgart, Germany: March 6-8, 2014
Energy efficient buildings, regenerative energy production and technical building equipment are the
three pillars of the conference. With a new name and slogan: CEB CLEAN ENERGY BUILDING ...Think
Future, the international trade fair and conference is not only freshening up its image in the economic
hub of Stuttgart, but is expanding its role as the central industry meeting point and driving force for
resource efficiency, decentralization and healthy living standards by uniting renewable energies with
building technology. Innovative themes such as storage technologies, efficient lighting and green energy
services will accompany the three core topics. Some of the key services covered include energy
management, financing and insurance.
http://www.cep-expo.de/?L=1
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8th RENEXPO Central Europe

Budapest, Hungary: March 12-13, 2014
The leading international energetic trade fair of Hungary, the RENEXPO Central Europe covers the
whole sector for renewable energy and energy efficiency and creates a meeting point for professionals
and experts from Europe. The RENEXPO is the key energy platform for the Central and Eastern
European region.
http://www.renexpo-budapest.com/index.php?id=7&L=1
Global Entrepreneurship Congress

Moscow, Russia: March 17-20, 2014
The Global Entrepreneurship Congress is an inter-disciplinary gathering of startup champions from
around the world-where entrepreneurs, investors, researchers, thought leaders and policymakers work
together to help bring ideas to life, drive economic growth and expand human welfare.
Over the past five years, the Congress has contributed to the expansion of a global
entrepreneurial ecosystem, connecting experts and entrepreneurs across borders and sectors to
unleash their ideas and transform innovation into reality.
http://gec2014.com/en/
Second International Conference on Green Computing,

Technology and Innovation (ICGCTI 2014)
Kuala Lumpur, Malaysia: March 18-20, 2014
The ICGCTI2014 is part of the Second World Congress on Computing and Information Technology
(WCIT2014). Some of the major areas the event would focus are: carbon management policies and
ecology related issues with ICT, Governments roles in fostering and enforcing green initiatives,
creating green awareness using IT, green business process reengineering and management, green
computing models, methodologies and paradigms, green networking & communications, adopting
greener IT practices benefits and barriers, green software engineering, sustainable computing, smart
buildings and urban development and using IT to reduce carbon emissions.
http://sdiwc.net/conferences/2014/icgcti2014
International Green Entrepreneurship Forum (IGEF)

Flensburg, Germany: March 26, 2014
The IGEF is a network forum for partners from Science and research, private enterprise and the public
to combine their efforts to improve and promote the growth of green economy and green
entrepreneurship through genuine projects. The theme of the 1st IGEF is Business Opportunities in the
Green Economy Combining Efforts of Science, Economy and the Public.
This Forum will provide a platform to discover possibilities for developing your existing
company or business idea, gain more in-depth knowledge on green economy and get in touch with
interesting people.
http://www.jackstaedt-flensburg.de/IGEF
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GLOBE 2014
Vancouver BC, Canada: 26-28 March, 2014
GLOBE the biennial event - has been at the forefront of new ideas and insights on business and
sustainability for the last 24 years. It has helped corporations understand and embed sustainability into
their operations, influenced the international debate on climate change, and developed the global
marketplace for environmental and energy technologies and services. GLOBE continues to draw the
best and brightest of the international sustainable business community, making it an utterly
unsurpassed networking opportunity.
In a world filled with risk and uncertainty, GLOBE 2014 will provide provocative insights on the
worlds most pressing issues around business and the environment. GLOBE 2014 will offer in-depth
review of challenging issues at the nexus between people, planet, and profit; critical insights from more
than 150 speakers and innovators; active participation through new interactive sessions, workshops,
and networking; and real world take-aways including important lessons, innovative solutions, and
valuable new tools.
http://2014.globeseries.com/
Green Carbon: Making Sustainable Agriculture Real

Brussels, Belgium: April 2-3, 2014
The Conference theme of Green Carbon aims to clarify and highlight the often invisible yet vital link
between Soil Organic Carbon (SOC) and soil health, and the role this link plays in the sustainability of
agricultural production and the flow of ecosystem services. However, the topics to be addressed by the
Conference will not be restricted only to the importance of SOC for the overall soil quality and health
but also include other sustainability and landscape issues intimately related to the role of soil carbon
such as ecosystem functions and services, climate change mitigation and carbon offset, and socioeconomic and policy aspects.
http://www.greencarbon-ca.eu
Introduction to a Green Economy

Concepts and Applications
Type: Course
Date: 14 Apr - 06 Jun 2014
Duration of event: 8 weeks
Location: web-based
Programme area: Environment, Climate Change, Environmental Governance and Law, Public Finance
and Trade
Fee: USD 600
Background
The concept of a green economy is receiving increasing international attention, as countries explore
new patterns of development that take into account economic, social and environmental sustainability
considerations. The ability of national actors to act on the green economy is key for effective policy
making and achieving tangible results. To address this challenge, United Nations Institute for Training
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and Research (UNITAR) is working closely with UNEP, ILO and UNIDO in a new Partnership for Action on
Green Economy (PAGE), with a focus on national capacity development. In order to provide interested
stakeholders from government, business, civil society and academia with an introduction to the green
economy concept UNITAR, together with PAGE partners, is delivering an interactive e-learning course
from 14 April to 06 June 2014.
Event Objectives
Participants will learn about different concepts and facets of the green economy, as well as global,
national and sector-specific challenges and opportunities to advance low-carbon, resource efficient and
socially inclusive development. Additionally, participants will begin to develop basic skills for applying
the green economy concept in a real world economic, policy and/or personal context.
Learning Objectives
After completing the course, participants will be able to:
Define the concept of a green economy and explain its value

Distinguish relevant planning processes in support of a green transformation
Identify enabling conditions for greening national economies
Discuss principal challenges and opportunities to advance a green economy
Recognise the range of international and regional green initiatives and support services to
foster green development
Apply the green economy concept to a real world economic, policy and/or personal context
http://www.unitar.org/egp
16th European Forum on Eco-innovation

Hannover, Germany: April 7-11, 2014
The Forum will examine enabling factors and challenges of transitioning to a circular economy model in
an urban context. These will be presented through the lens of the stakeholders: city authorities, citizens
and businesses. The event will also identify and showcase eco-innovations that can facilitate the shift to
a circular economy and support cities in meeting the new targets for municipal waste treatment. It will
take place during the worlds leading trade fair for industrial technology, Hannover Messe (which will be
held from 7 to 11 April 2014).
Each year, in the European Union alone, we throw away three billion tonnes of waste. Valuable
amounts of usable commodities are lost, as only a small share of them is traded on second-hand
markets or recycled. To avoid this waste of resources, energy and human labour, a smart approach to
integrated infrastructures inspired by the principles of circular economy offers several advantages. At
the same time, and to comply with the revised European legislation on waste foreseen in the spring of
2014, further efforts by local authorities are needed to improve their waste management systems. Ecoinnovative solutions can provide some of the answers to these challenges.
Organised by DG Environment in the context of the Eco-innovation Action Plan, the biannual
European Forum on Eco-innovation brings together around 200 specialists from the worlds of research,
industry, policy, finance, civil society and business. Over two days, participants present the latest
developments in their fields and engage in discussions on a specific theme.
http://ec.europa.eu/environment/ecoinnovation2014/1st_forum/index_en.html
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World Green Economy Summit 2014

Dubai, UAE: April 15-16, 2014
Held under the leadership of the Dubai Supreme Council of Energy (DSCE) the World Green Economy
Summit (WGES) is the first green summit in the Middle East and North Africa region. It will be held in
conjunction and collaboration with WETEX 2014, the annual Water, Energy, Technology, and
Environment Exhibition that is expected to attract more than 1,500 exhibitors and 20,000 visitors in
2014.
The summit will bring together the worlds leaders, united in pursuing a sustainable future for
humanity in order to forge global partnerships among leading players in the world that can drive the
transition to a green economy.
This event is in line with the Green Economy for Sustainable Development initiative,
announced last year by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime
Minister of the UAE and Ruler of Dubai, national strategy that aims to make the UAE one of the leading
countries in the world in the field of green economy, and a global centre for exporting and re-exporting
green technologies and products. The summit will be held under the theme Global Partnerships,
Sustainable Future and looks to the complement the sustainable future vision of the UAE and the
global efforts to combat climate change.
WGES will furthermore link up to the global efforts in securing a climate agreement in 2015 at
UNFCCC COP 21.
http://www.wclimate.com/2014-2/
1st International Congress on

Entrepreneurship in Tourism:
Towards Green Growth
Dubrovnik, Croatia: April 27-30, 2014
The congress, organised by Croatian Small Business Union (HUMP-CROSBU) in partnership with OECD
Investment Compact SEE, Paris and Studio Centro Veneto, Vicenza and local partners, has the theme of
entrepreneurship in tourism: Towards Green Growth.
The congress theme covers a range of issues critical to economies and to the development of
entrepreneurship in tourism as a major engine of growth and jobs creation for social, economic, cultural
and personal values. Like many other sectors, tourism faces a range of significant sustainability-related
challenges.
The congress aims to provide a platform for researchers, policy makers and practitioners in
recognition of the increasing flow of ideas, resources and knowledge between businesses, institutions
and policy makers. The particular role of entrepreneurship in tourism transforming society through
greater and meaningful economic opportunity is to be found in this mix of these assets.
http://www.thegreenmarketoracle.com/2013/10/event-1st-international-congress-on.html
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1st International Workshop on Optimization and

Decision Support Systems for Sustainability - ODSSS 2014
Lisbon, Portugal: April 27, 2014
This workshop will be organised in conjunction with the 16th International Conference on Enterprise
Information Systems - ICEIS 2014.
The optimization for sustainability theme is attracting increased interest from the Operations
management, Information Management, Operations Research, Decision Support Systems and related
academic communities because it gives researchers working on optimization techniques the
opportunity to increase the impact of their findings by relating their work to current world-wide
challenges, such as sustainability, i.e. taking into account the economic, environmental and social
dimensions. Latest research including methods, models and algorithms for addressing sustainability
problems are welcome to this special session.
http://www.iceis.org/ODSSS.aspx
Fortune Brainstorm GREEN: Sustainable Solutions

Laguna Niguel, California: May 19-21, 2014
Fortune Brainstorm GREEN: Sustainable Solutions will bring together the smartest people such as CEOs
and senior executives, investors, policy makers, environmentalists, and thought leaders, and challenge
one another to take the corporate sustainability movement to the next level. In two action-packed days,
the event will showcase the people, companies, ideas, and strategies that go beyond incrementalism
and bring about the transformational change the world needs.
As the premier conference on business, sustainability, and green investing, Brainstorm GREEN
delivers fresh thinking, actionable solutions, and unparalleled opportunities to build top-level
relationships.
http://www.fortuneconferences.com/brainstorm-green-2014/
Transitional green entrepreneurs:

Re-thinking ecopreneurship for the 21st century
Ume University, Sweden: June 3-5, 2014
Todays environmental and economic debate places great emphasis on the need to direct societys
consumption and production patterns toward sustainability. In response to this challenge, high
expectations have been placed on various forms of green, environmental or sustainable
entrepreneurship, and so-called ecopreneurs, whose business models are guided by a vision to make a
positive difference regarding environmental problems. The symposium will scrutinize the possibilities of
transitional green entrepreneurs and map possible paths ahead. The purpose is to advance
ecopreneurship research by sharing where theory and practice is heading, and reflect upon the history
of these developments.
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We are looking for theoretically innovative and empirically strong papers to be presented in a
creative, friendly and progressive academic venue. Papers in areas of transport, clothing, housing,
renewables, food, and health are of special interest. You are invited to explore, but not be limited to:
Re-conceptualisations of green entrepreneurship

Ecopreneurship, CSR, and Corporate Irresponsibility
Indigenous Communities and Ecopreneurship
Sustainable business as Social Innovation
Resilience and environmental entrepreneurship
Permaculture as green entrepreneurship
Blue Economy
De-growth
Sharing economy
Ecopreneurship and sustainability transitions
The symposium will be free of charge for participants including transport from Ume, food and
accommodation.
http://www.org.umu.se/usste/english/research/workshops-and-conferences/transitional-greenentrepreneurs/
Eco-entrepreneurship Award at AUB

Beirut, Lebanon: June 9, 2014
The Samir and Claude Abillama Eco-entrepreneurship Award is a $20,000 sum awarded to an individual
or team for their winning Eco-entrepreneurship idea (product, process, service or system).
Applicants may work alone, or with a team of two to five people. Projects must comply with
eco-entrepreneurship indicators and have a local impact on Lebanon. The selection process includes
three rounds, after which the award winner will be announced during the annual Eco-entrepreneurship
Conference on June 9, 2014.
The award promotes the green entrepreneurial model. It aims to create job opportunities in
Lebanon by supporting young entrepreneurs.
http://www.aub.edu.lb/units/natureconservation/programs/eco-entrepreneurship-award/Pages/index.aspx
ACSEE 2014: The Fourth Annual Asian Conference on

Sustainability, Energy and the Environment
Osaka, Japan: June 12-15, 2014
The Asian Conference on Sustainability, Energy and the Environment (ACSEE) 2014 organised by
International Academic Forum in conjunction with its global partners has the theme "Individual,
Community, Society: Conflict, Resolution and Synergy".
As it enters its fourth year, The ACSEE will again include a variety of presenters representing a
wide range of social science disciplines, expressing divergent views, searching for common ground, and
creating the synergies that can inspire multi-disciplinary collaborations. ACSEE 2014 will address these
various dimensions of human sustainability as we invite scholars from around the world to address
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questions and search for synergies and solutions to the complex issues surrounding sustainability in a
forum encouraging serious and thoughtful exchange between academics, members of the global
business community, and practitioners in the fields of human endeavor that link these.
http://acsee.iafor.org/
Call for Nominations:

"Eco-Enterprise Innovation" Awards
San Francisco: June 20 2014
Is your organisation using Oracle products to reduce its environmental footprint while reducing costs?
For example, you may use Oracle Self-Service E-Billing for paperless invoicing or Oracle Advanced
Compression for reduced disk space and power usage. You may be eligible for the 2014 Oracle EcoEnterprise Innovation Award, part of the Oracle Excellence Awards. Submit a nomination form by
Friday June 20 2014 if your organisation is using any Oracle product(s) to take an environmental lead as
well as to reduce costs and improve business efficiencies using green business practices. These awards
will be presented during Oracle OpenWorld 2014 in San Francisco.
http://www.oracle.com/us/corporate/awards/eco-enterpise/index.html
International Symposium on
Green Manufacturing and Applications (ISGMA2014)
Busan, South Korea: June 24-28, 2014
ISGMA 2014 is mainly focused on experimental, theoretical and computational aspects of green
manufacturing technologies and its applications. It will provide a forum for the presentation of the
state-of-the-art technology in green manufacturing and its related-fields, such as eco-friendly
design/manufacturing, improvement of manufacturing efficiency, energy saving strategy, eco-friendly
materials, and manufacturing of new-renewable energy systems.
This Symposium aims to facilitate and provide opportunities for researchers and engineers to
exchange knowledge by profound discussions and promote the international and multi-disciplinary
collaboration.
http://www.isgma.org/
International Conference on Green Economy in the

South Negotiating Environmental Governance,
Prosperity and Development
University of Dodoma, Tanzania: July 8-10, 2014
The momentum gathering behind the idea and practice of the Green Economy is coinciding with
financial instability and continued economic woe in the North, but generally happier economic
circumstances in the South. Economies are growing and green economic initiatives are part of these
changes. Carbon payments, ecotourism, community-based wildlife management, Corporate Social
Responsibility initiatives and offsets by mining companies exploiting new resources are all a part of a
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landscape offering new commodities, opportunities for commercialization and integration into wealthgenerating markets.
And so too are growing incidents of land (and water) grabbing, displacement and alienation of
resources required for wealthy tourists, bitter local conflicts over the locally-defined rules of access to
carbon (e.g. firewood) purchased by wealthy northerners, green washing and other harmful activities
that either cause poverty, or else distribute the fortune and misfortune of the green economy
inequitably. Equally demands for alternatives to market-driven environmental degradation, and for
market-dominated solutions are also gaining strength and coherence. The three-day international
conference would critically examine these phenomena.
http://www.plaas.org.za/event/international-conference-green-economy-south-negotiating-environmentalgovernance-prosperity
9th Annual Green Economics

Institute Conference
Oxford University, UK: July 9-11, 2014
The conference will discuss on how to turn the crisis and recovery round to help everyone join in
society and benefit from it together?; what are the issues and feature so far and what can we expect?;
what do we need to do as humanity is at a crossroads?; Is there a need to change the way we do things
for thousand years?; how we can make those changes successfully?. The conference has a focus on:
Creating a lasting Spring and Summer of Economic Democracy; Recovery- What recovery?; Pulling
together to solve the crisis! Creating a recovery for the people! In the face of privatisation, globalisation
and massive trade blocks.
http://www.greeneconomics.org.uk/
China Low Carbon &

Environment Tech 2014
Guangdong, China: July 10-11, 2014
China's State Council announces plans to make green industries central to the economy by 2015, which
plans to invest 2.3 trillion yuan ($375 billion) in energy saving and emission-reduction projects in the
five years through 2015 to clean up its environment. As Chinas industrialization and urbanization, and
the energy resource consumption continues to increase, air pollution control pressures continue to
increase.
However, as the world's biggest emitter of greenhouse gases, China has approved carbon
trading in seven locations and pledged to reduce its carbon dioxide emissions per unit of GDP by up to
45 percent by 2020. When launched nationwide, the scheme is likely to see China emerge as the world's
biggest carbon trading market.
China is facing a water crisis. Its per capita water supply is significantly lower than the global
average, but its demand for water is astronomical. Both industry and agriculture use massive amounts
of water and create massive water pollution. With the robust economic growth, the country's
municipal solid waste management sector particularly waste-to-energy market is set for rapid
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development for the years to come. A number of favorable policy incentives and stricter emission
regulations have just been issued recently and the industry is also showing good signs and prospects for
revamping the existing waste incineration facilities.
In this context, the China Low Carbon & Environment Tech 2014 is organised that would have
high-end dialogues, focusing on the hot topics such as climate finance and low carbon technologies,
CDM and emissions trading in China, challenges and opportunities of waste to energy development,
current status and trends of Chinas waste incineration, green innovation technology of enterprise air
pollution control and management innovation, etc.
http://www.cdmc.org.cn/2014/cle/index.asp
Grey to Green Conference

Ontario, Canada: August 25-26, 2014
Building on the success of Grey to Green: A Conference on the Economics of Green Infrastructure in
2013, Green Roofs for Healthy Cities is now planning Grey to Green for 2014. This two-day conference
focuses on the health benefits of green infrastructure - for our economy, our ecosystem and our
community. Grey to Green will bring together leading edge thinkers and doers across a diverse range of
fields which reveal the intersection of health and green infrastructure protection and development.
Designers, engineers, policy makers, developers, utility managers, conservationists, healthcare
professionals, horticulturalists, contractors, urban farmers, academics, all share important opportunities
to advance the social, economic and ecosystem health of our communities by utilizing living green
infrastructure such as urban forests, green roofs and walls, bioswales, rain gardens, meadowlands, and
wetlands. Grey to Green will bring to light many of the important scientific, design, economic and policy
advancements in the green infrastructure field.
http://www.greytogreenconference.org
1st International Conference on

Automotive Innovation and
Green Energy Vehicle
Pahang, Malaysia: August 26-27, 2014
1st International Conference on Automotive Innovation and Green Energy Vehicle (AiGEV 2014) aims to
promote and advance automotive engineering research at a national and international level and to
disseminate that excellence in research to the global automotive engineering community. This
conference provides an opportunity for information amongst researchers working in Academic
Institutions / R&D organisations to present and publish their research findings in the Conference
Proceedings and to interact with the experts.
http://aigev.ump.edu.my
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4th Low Carbon Earth Summit-2014

Qingdao, China: September 21-23, 2014
The 4th Low Carbon Earth Summit-2014 (LCES-2014) will be organised with the theme of "Green Action
for Sustainability". This summit will comprise ten professional parallel forums including climate change
adaption, low carbon economy & finance, low carbon technologies for climate mitigation, low carbon
city, carbon trade, etc. The main objective of LCES-2014 is to provide a comprehensive global platform
for experts and participants from government, enterprise, academia and other organisation in the
related field to exchange ideas and present results of ongoing research in the most state-of-the-art
areas of Climate Change, Investment Financing and the Low Carbon Technology.
http://www.lcesummit.com/default.asp
Green Economy Conference 2014

San Francisco: October 21-22, 2014
The Green Economy Conference 2014 will be held in San Francisco on October 21st and October 22nd,
2014. Conference registration will open on February 1, 2014. To suggest a speaker, inquire about
sponsorship opportunities, or learn more about the Green Economy Conference 2014, please send an
email to sfconference@greeneconomygroup.com.
The Green Economy Awards will also be presented during the conference. The purpose of the
Green Economy Awards is to recognise the achievement of those rare and courageous individuals,
organisations, and corporations that have made an extraordinary contribution to creating a global green
economy. The selection criteria of these awards Green Economy Awards are: visionary leadership;
enduring contribution; personal commitment and persistence; courageous action; and integrity.
http://greeneconomygroup.com/sfconference/
7th International Symposium on

Non-CO2 Greenhouse Gases (NCGG7)
Amsterdam, Netherlands: November 5-7, 2014
The NCGG7 will be organised with a focus on Innovations for a Sustainable Future. Non-CO2
greenhouse gases include many substances, such as methane (CH4), nitrous oxide (N2O), fluorocarbons
(CFCs, HFCs, SF6, etc), black carbon, aerosols, and tropospheric ozone (O3). These contribute
significantly to climate forcing. Reducing non-CO2 greenhouse gas emissions is often more costeffective than reducing CO2 emissions.
The scope of NCGG7 will be the innovations in the science, technology and policy aspects of
controlling non-CO2 greenhouse gas and precursor emissions. The NCGG conferences pay attention to:
sources, sinks, and atmospheric processes of non-CO2 greenhouse gases; mitigation options and
emission reduction technologies and practices; policies and measures, both in the public and private
sectors; and the science-policy-industry interface. Specific issues to be addressed at NCGG7 will include:
nitrogen-carbon cycling and interactions; short-lived climate forcers; air pollution versus climate
change; new emission reduction technologies; the effectiveness of the Kyoto Protocol; policies on Fgases; corporate responsibility; short-term policies and long term policy objectives; action research and
participatory integrated assessment; and innovations for sustainable development.
www.ncgg.info
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Going Green CARE INNOVATION 2014

Vienna, Austria: November 17-20, 2014
This Symposium is the only platform for presenting the up-to-date progress on sustainable
development and the development of eco-efficient electronic & automotive products.
This years program will feature the latest in environmental design, clean manufacturing,
resource efficiency, climate change, new eco-efficient technologies, collection, reverse logistics,
refurbishment, carbon trading, re-use, recycling and policy making from leading experts in industry,
academia, consulting, recyclers and public area around the globe. Leading companies and institutions in
green electronics will present their innovative products, processes and services at the exhibition.
http://www.care-electronics.net/CI2014/
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INTERNATIONAL SOCIETY FOR

Linking SMEs Worldwide...
International Society for Small and Medium Enterprises (ISSME) is an ISO 9001 certified
International Non-Government Organisation, with its headquarters at New Delhi, the capital of
India. It works with members, affiliates and partners across the world for the promotion of
Small and Medium Enterprises (SMEs). ISSME brings together policy makers, facilitators,
experts, educators, researchers and small & medium-sized enterprises from around the world.
They use this platform to share their experience, knowledge and expertise in their respective
fields.
International Society for Small and Medium Enterprises
Postal Address
P O Box No. 4354, Kalkaji HPO,
New Delhi 110019, India
Switchboard: +91-11-29993844 Central Fax: +91-11-29993845
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