Innovation, Entrepreneurship, and the Environment: Leveraging the Power of Capitalism to Solve Our Most Pressing Problems

Presented by Dr. Joseph Steensma

Joseph Steensma

There is little question that many of the environmental challenges faced in the Bahamas and around the world are a product of poorly regulated markets, rampant consumerism, and unfettered capitalism. But what if the same forces that have caused these problems could be harnessed to solve our most pressing environmental challenges? The author addresses the power of entrepreneurship and innovation to positively impact the natural environment of the Bahamas and beyond. Concepts such as social entrepreneurship, environmental capital, development of markets, subsidy and taxation are explored. Examples of policies and financial instruments that have positively impacted the growth and development of ‘environmental enterprise’ are discussed. Case studies of innovative and entrepreneurial approaches to environmental problem solving are offered as models for discussion.