A free society needs both-high standard of individual wealth and clean environment. The private enterprise system has to develop the capability of providing the elements of an improved quality of life. Industries have to meet environmental demands and yet maintain their capacities to compete internationally. There are two different types of opportunities. The first opportunity comes from the fact that the companies will not be allowed to pollute the environment. Companies will have to identify processes whose outputs are being released in the environment and hence polluting it.
Companies have believed that to reduce the emissions or make them harmless before releasing into the environment, is always going to cost more. But this is not the case. When companies use new technologies to carry out their emission-producing processes, they find that the effectiveness and efficiency of the process is improved, in addition to reduction of emissions from them. The second opportunity will come to those companies which will develop the technologies that will enable companies to carry out their processes in environment-friendly ways. These companies will have to invest heavily in research and development, but they can be assured of a huge success when they come up with technologies that reduce or eliminate polluting emissions from processes.