The global market for “green” chemicals, or chemical products or processes that reduce or eliminate the generation of environmentally hazardous substances, is forecast to increase by over 12% annually. While agriculture, buildings, pharmaceuticals, and electronics manufacturing are particularly chemical-intensive economic sectors, chemicals are ubiquitous in every sector. Hazardous chemical exposure has been linked by the World Health Organization to 8.3% of all deaths globally every year.
A number of options exist for companies interested in reducing the environmental and health impacts from the use of chemicals, including substituting non-hazardous chemicals for hazardous chemicals, reducing or even eliminating the use of chemicals. There are also efforts to promote more efficient use of chemicals, as in the case of chemical leasing, a business model where profit doesn’t depend on the volume of chemicals sold but on the services provided by the chemicals (e.g. the price of paint is calculated by how many products are painted, rather than the quantity sold).