Reviewed by Sep 30, 2020| Updated on
Greentech refers to environment-friendly technology and is short for green technology. It involves the usage of technology in production processes using sustainable forms of energy. It can also refer to clean energy production.
Greentech aims at protecting the environment and conservation of natural resources. Clean energy involves the use of alternative fuels and technologies that are less harmful to the environment than fossil fuels. Green technologies are used in the recycling of wastewater, generation of power through solar panels, wind turbines, and such other industries.
Some corporations include the use of green energy as one of their goals.
Corporations are set up for the generation of green power, such as wind power or solar power.
Environmental awareness has become a social movement. Many investors also prefer to invest in green technology companies to contribute to their development.
Some funds are based on clean energy and Greentech companies.
Greentech is an umbrella term that describes the use of technology and science to create environment-friendly products. The goal of greentech is to protect the environment and in some cases, repair damage done in the past.
Greentech can often be one of the stated goals of a business segment or company. These goals are typically outlined in a company's environmental, sustainability, and governance (ESG) statement, or can even be the focused mission statement of a firm.
Manufacturers have sought to reduce the negative environmental externalities by altering their production process to produce less soot or waste byproducts.
One of the important uses of greentech is in the recycling industry. Recyclable material can be used for plastics, fertilizer, and fuel.