By Daniel Masters and Larry Dutt
How many of you, by show of hands, are familiar with the concept of total cost accounting? Total cost accounting is the idea that, even if money is saved by purchasing less expensive products and services, that difference in cost is typically paid in some non-monetary way. This concept is widely used in environmentalism to explain that, while conventional goods and services are less expensive than those that are eco-friendly, there are often unseen non-monetary costs associated with them.
We have both been interested in managing our environmental impact for quite some time, and have found ways to overcome some of the challenges of going green …show more content…
While most urban areas in the United States have a variety of organic grocery stores, many smaller cities have none at all (Google, Inc.). Similarly, not every city has a dealership which sells hybrid cars, or a power company that sells environmentally friendly electricity.
As Renato Orsato writes in his 2009 book, Sustainability Strategies: When Does It Pay To Be Green?, “Although simple, it took a while for people to realize that the profitability of environmental investments is similar to other issues in business: it is conditional to specific circumstances… directing a firm’s efforts toward profit generation from cleaner technologies or green products might make business sense in certain circumstances, not in all” (Orsato 3). While Orsato was writing about environmentalism primarily in a business context, the same applies on a personal level as well.
While going green has significant monetary expense, those whose circumstances allow them to, but choose not to, are choosing to pay some other cost, generally in environmental and personal health.
Going towards a greener approach in your day-to-day lives has its benefits. These benefits range from saving earth and our environment, saving our health and improving it, and, last but not least, saving money in