How the Government Is Helping Build a More Sustainable Economy

sustainable

Numerous disasters struck the Earth during these past few years. In 2020 alone, we experienced the wrath of Mother Earth as a consequence of how we are slowly but surely killing the planet. This included wildfires, volcanic eruptions, floods, earthquakes, etc. This served as an eye-opener for consumers, the private sector, and especially the government. Now, numerous initiatives exist that aim to build a more sustainable economy.

Sometimes, even the smallest initiative can help make a big difference. But then, we need the help of the government to make a big sustainable difference in our economy. Thankfully, there now exists numerous sustainable government initiatives like the following.

Sustainable Infrastructures

Nowadays, we have many sustainable infrastructures built. This is part of the government’s intention to support a sustainable economy. These are projects that are planned, constructed, and operated with sustainability in mind. These can include buildings, roads, as well as energy and water infrastructures that help ensure sustainability.

Commercial and industrial compactors, for instance, help in boosting waste savings. These help in drastically reducing the size and volume of materials that ends up in the dumpsites. These help businesses who don’t have the resources to turn into a zero-waste company to reduce their wastes and boost their savings.

Hauling and disposing of wastes can cost a considerable amount of investment. With a reliable compactor, businesses can improve the safety of waste hauls and disposals. They can reduce waste disposal costs, increase usable space, and start advertising their business as a more sustainable brand.

Mass Transit, on the other hand, helps reduce the number of private cars on the road. This helps lessen the use of fossil fuels while reducing the number of carbon emissions produced each day. With robust mass transit, people can have a reliable and sustainable way to go where they have to go without adding environmental damage.

Wastewater systems are another example of sustainable infrastructures seen these days. These are efficient ways to remove liquid waste before discharging the remaining water back into the environment. The lesser amount of waste that goes back into the environment, the safer it is for every living thing living in the water.

Grids are also getting smarter. With the help of smart grid technologies, we can now enjoy sustainable and low carbon-emission energy resources. With the reduced consumption, we can enjoy more energy savings, reduced management, and power operations costs, and even quicker restoration after electrical power interruptions.

windmill on a hill

Compared to traditional grids, smart grids don’t need human intervention when there are changes in power usage. It enables consumers to make their energy usage fit their own preferences. Now, eco-conscious consumers can tailor their consumption in a way that will address their environmental concerns.

Green Tax Credits and Deductions

As part of the government’s plan to entice both businesses and consumers to start a more sustainable life, they are now offering tax credits and deductions. Tax credits can be a dollar-for-dollar reduction if you apply the credit used to spend on an energy-efficient project against your gross income. For buying environment-friendly vehicles, properties, or any solar investment, you can enjoy corresponding tax credits and reduce business taxes.

  • Solar Investment Tax Credit

This is for those who finance, develop, or installs solar energy properties. For example, you install solar panels into your home. This is for as long as you completed the project and the requirements.

  • Green Building Tax Deductions

Reviving an old business building into a greener building is another way to enjoy tax credits. You need to make sure your building is incorporated with energy-efficient systems. Note that this tax deduction is only available for green buildings built before December 31, 2020.

  • Green Vehicle Tax Credit

Tax incentives help make sustainable investments a more attractive perk to businesses and consumers. This is aside from the fact that one can boost their cost savings, reduce their usage of different resources, gain that competitive advantage, and be able to market their brand as a more sustainable company.

Creation and Enforcement of Rules

The government can help ensure that food, water, air, and all the necessary resources the consumers need are protected. But with the growing complexity of our economy, this becomes a tricky subject. We need more environmentally friendly laws that will protect both these resources and the economy.

We could use more rules that promote more responsible waste management and disposal. We need more laws that will push both the public and private sectors to be more careful with their processes to reduce and prevent damage to the environment. The more we integrate water and energy efficiency as well as proper waste disposal in everything we do, the better it will be for the environment.

The government is one powerful legal entity that can do so much more in helping to preserve the planet. The more government initiatives there are, the easier it will be for the planet to start the healing process. Of course, the government also needs the help and cooperation of both the consumers and the private sector for these strategies to work.

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