Is Entrepreneurship the Key to a Sustainable Future?

 

Sustainopreneurship—a relatively new concept that might soon have a huge role to play in society. First introduced in 2007 [1], the term is short for sustainability entrepreneurship and is also known as “entrepreneurship with a cause”. In this case, that cause is securing a sustainable future for all of us.

We’ve come a long way in terms of sustainable development, but as the UN’s recent Climate Change Conference (COP26) has shown, there is still a lot more work that needs to be done. Ensuring that our growth and development as a society does not negatively impact future generations—and ensuring that there actually will be something left for future generations—requires massive changes environmentally, socially, and economically. While all eyes are (and should be) on our governments, world leaders, and big industrialized countries, we each have a part to play in the quest for sustainability. And some recent studies have suggested that one way we can play that part is through sustainopreneurship.

What is Sustainopreneurship?

Sustainability Entrepreneurship is one of many kinds of entrepreneurship that exists. According to Investopedia, entrepreneurship refers to the process of setting up a business. When a person decides to start a new business venture, accepting the risks and uncertainty that come with that venture, in order to make a profit, they are deciding to become an entrepreneur. 

Entrepreneurship has played an increasingly vital role in economic development [2] and continues to foster community development, improve quality of living, and, most importantly, promote innovation. Over the years, we have grown to recognize its importance, celebrating it annually during Global Entrepreneurship Week and on National Entrepreneurship Day. 

Sustainopreneurship, however, goes even further, using business and innovation to create solutions for social and environmental challenges related to sustainable development. Take the climate crisis, energy use, and production and consumption, for example. 

As one Wall Street International article put it, a sustainopreneur “takes a sustainability innovation to the market through creative organizing with respect for life-supporting systems in the process.”

They see the problems that we are facing as a community and then come up with a creative, sustainable, and profitable solution. With sustainopreneurship, business ultimately becomes a part of the solution rather than the problem. As a result, this new and upcoming form of entrepreneurship could potentially help us in achieving some of the UN’s Sustainable Development Goals. 

Sustainopreneurship in Belize

Examples of successful sustainopreneurship can be found across the globe, even here at home. The recent emergence of numerous sustainopreneurs and other local business owners who recognize the importance of sustainability has shown just how we can do our part in making a difference: 

1) Ikooma Hair Products

Ikooma Hair Products, created by Jolie Pollard, is a brand that prides itself in sustainable farming and harvesting of seaweed—the main ingredient in their natural hair care products. Ikooma not only provides fisherfolk with an alternative livelihood (seaweed farming) but also provides nearby marine animals with a safe nursery. And, in an effort to reduce the amount of plastic that enters our oceans, Ikooma uses refillable, omnidegradable packaging. 

2) Ronelli Requena

Every year, Belizean Fashion designer Ronelli Requena creates a design completely out of recyclable materials. This year, she worked alongside designer Zyania Alonzo to create a fully functional dress entirely out of plastic. The innovative (and stunning) piece was created to bring attention to the vital role that rivers play in our lives and to the negative impact that we have had on those rivers over the years. Requena also highlighted the work that the Rotary Club of Belize has been doing to lessen that impact, including their BioBarrier—a 300-foot long net meant to block plastics and other waste in the river.

3) “Fish Right Eat Right” by Oceana

The recent launch of Oceana’s “Fish Right Eat Right” program was a monumental step in the right direction for our seafood industry. The program involves a “sea to plate” app that allows users to see how their seafood was sourced with just a quick QR Code scan, ultimately inspiring sustainable fishing practices through transparency. As the list of establishments participating in the program continues to grow, consumers can begin looking out for the Fish Right Eat Right logo displayed outside restaurants and stores.

4) Sustainable Chocolate

We Belizeans love our chocolate. And we love sustainable chocolate even more. Tree-to-bar chocolate makers like Ixcacao Mayan Belizean Chocolate and Che’il Mayan Chocolate Factory use sustainable methods to farm and grow cacao. Not only does sustainable chocolate mean better transparency and traceability in the cacao industry, but it also ensures that farmers walk away with a greater profit for their products all while helping maintain forested landscapes in the process.

Implications for the Future 

Studies have found that innovation and sustainability are intricately linked, especially in developing countries [3] like Belize. Increased innovation is a key element in moving closer towards sustainability, and one of the greatest sources of innovation in society is entrepreneurship. 

While a sustainable future might be a lot different from the kind of future we imagined while growing up, it is certainly the one we should all be working towards. And while sustainopreneurship might not be the cure-all for the challenges preventing us from achieving that future, it is certainly a great start by combining business with sustainability.

Written by: Khaila Gentle

REFERENCES:

[1] Abrahamsson, A., Växjö University, School of Management and Economics, 2006. Researching Sustainopreneurship – conditions, concepts, approaches, arenas and questions [Online] Available at https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.87.9878&rep=rep1&type=pdf

[2] Naude, Wim,  United Nations University, 2011. Entrepreneurs and Economic Development.  [Online] Available at: https://unu.edu/publications/articles/are-entrepreneurial-societies-also-happier.html

[3] Adel Ben Youself et al, Journal of Technological Forecasting and Social Change, 2018. Entrepreneurship and Sustainability: The need for innovative and institutional solutions. [Online] Available at https://www.sciencedirect.com/science/article/pii/S0040162517315251

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