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World environment day was on Thursday June 5th. The day is intended to give a human face to environmental issues, empowering citizens of the world to become active agents of sustainable and equitable development to ensure we can collectively look forward to a safe and prosperous future. The day celebrates the multitude of ways in which we can all make a difference, whether through our individual efforts in recycling or public transport patronage, or in our collective clean-up or conservation campaigns.

At the individual level, we are increasingly separating our garbage and switching off our PC monitors. However as a nation, Americans generate more waste than any other in the world. 4.5 pounds per person, per day to be exact.

And, although this represents a marginal reduction compared to earlier decades, the absolute volume of garbage we generate is increasing. What else could explain the sustained profitability increases in the Waste Collection services and Waste Treatment & Disposal Services industries, if not our inability to reduce the size of our ecological footprint.

Yes, there are more of us than a decade ago, we're now 304 million strong. But we also know more now, about how we can each make a difference and take action to create a sustainable future.

So, what needs to be done? Well, one response may be; more of the same, and then a bit more. Industry analysis shows that while Waste Collection services and Waste Treatment & Disposal Services are forecast to grow 2.8% and 4.1% respectively in 2008, fortunately, so too is Environmental Consulting, expected to expand by a significant 9.7%. Moreover, modest growth is forecast for Recycling Facilities and Waste Management Services.

So we are on the right track. But we must build on this. To ensure a sustainable future, and prosperity for future generations, it's critical that we align our individual desire to make a difference, and foster a culture that values the health of our ecosystem over our individual wants. Collectivizing our divergent demands may at first seem an overwhelming ask, but we do have a system in which to do this. It's called the economy.

This is a system that arguably contributed to the ominous environmental situation in which we find ourselves. Though it is this system too that can, at least partially, get us out. How? Through innovation and technology, that fosters new product development. Through education, that enables us to understand, mitigate and go some way to reversing our impact. And, critically, through considered purchase decisions, that force corporate America to improve their environmental practices.

Industry reports relating to this article are:

	Waste Collection services
	Waste Treatment & Disposal Services
	Environmental Consulting
	Recycling Facilities

Oil prices hit $US139 a barrel last week. That's more than double what they were a year ago, and even after inflation adjustments, higher than during the supply shocks of 1974 and 1980. On a single day world oil revenue now equals the annual GDP of Nepal, Cambodia or Paraguay, is more than double that of Mozambique, and is more than 30 times bigger than the economy of Vanuatu.

Despite since contracting to $US134 a barrel earlier this week, this price volatility presents a growing concern about the erosion of global energy demand. Oil underpins not only the world economy, but life as we know it. Directly, it transports us, it warms us, and it fuels the factories that are our livelihood. Indirectly however, its effect reaches farther, with nearly every component of the modern economy having some degree of pricing exposure to oil.

As a result, it's not just the Travel Arrangement and Reservation Services industries feeling the punch. Industries downstream of the Oil and Gas Exploration and Production industry, like petrochemicals and plastics that use oil derivatives in the production of fertilizers, computer parts, manufacturing car and machine parts, plumbing parts, toys and medical and surgical equipment will all feel the effects of the input price spikes.

And, despite suggestions that the broader inflationary effects will take months to flow through to prices, consumers have already begun to respond. Marginal consumption has declined. And, critically, we are changing the way we live. There's been a shift in the size of vehicles being purchased across the globe, with smaller more fuel-efficient hybrid models becoming increasingly important to the Automobile and Light Duty Motor Vehicle Manufacturing industry. Moreover, the car industry is facing increasing external competition from the public transport sector, as consumers re-evaluate their private vehicle usage.

So our future depends on change. Change on a level that has perhaps, and unfortunately, been avoided until the laws of demand and supply have forced us. We are going to have to live with the higher energy prices, but the challenge facing us presents an opportunity as well. Technology and innovation will play an important role in our future, as will research, development and education. So the reality is perhaps not that crude, provided we can overcome our inertia to date.

Industry reports relating to this article are:

	Travel Arrangement and Reservation Services
	Oil and Gas Exploration and Production
	Automobile and Light Duty Motor Vehicle Manufacturing

World Environment Day

World Environment Day, an initiative from the United Nations Environment Program (UNEP), took place on June 5 of this year. Hosted in Wellington, New Zealand, the 2008 theme was "CO2 – Kick the Habit! Towards a Low Carbon Economy". As carbon-neutral economic development has become an issue attracting greater public attention in recent years, businesses have had an increased incentive to address environmental issues in their operations. IBISWorld's Risk department takes a look at two industries at the fore of this new trend:

The Environmental Consulting industry provides advice and assistance to businesses and other organizations on environmental issues, such as the control of environmental contamination from pollutants, toxic substances, and hazardous materials. IBISWorld analysis indicates that risk in this industry will be at a LOW level over the 2009 outlook period, as new environmental legislation and infrastructure drives demand for this industry's services. The Environmental Consulting industry's revenue is forecast to grow by 11.3% during the year.

Though not an environmentally-themed industry per se, the Waste Treatment & Disposal Services industry is expected to benefit from the increased use of waste-to-energy facilities as a result of higher energy prices and demand for renewable energy sources in an environmentally-conscious age. For 2009, IBISWorld predicts that this industry will face a MEDIUM level of risk as the economy emerges from the current recessionary conditions. However, industrial production is still anticipated to be relatively weak, constraining demand for this industry's services. The industry's revenue is projected to expand by 2%.

Below is an outline of the historical and forecast risk score of the above mentioned industries. These can be compared to overall risk for the US economy.

Industry reports relating to this article are:

	Environmental Consulting
	Waste Treatment & Disposal Services

Economic Scoreboard & Observations