In a move echoing one made by Australia's Prime Minister less than two weeks ago, CBC News reports that Ontario premier Dalton McGuinty has announced that Ontario will also be phasing out standard incandescent light bulbs in an effort to curb global warming. The ban will go into effect by 2012, by which point, the price of LED lighting, which offers even greater environmental benefits than CF bulbs, may have dropped enough to make them an even better alternative. Though the announcement was most likely politically motivated, and isn't nearly as groundbreaking as it would have been only three weeks ago, it is still a welcome step in the right direction.
Trend Themes
1. Phasing Out Incandescent Light Bulbs - Opportunity to invest in the production and sale of LED lighting or Compact Fluorescent bulbs.
2. Environmental Responsibility - Opportunity for companies to explore and invest in eco-friendly products and solutions.
3. Political Initiatives to Combat Global Warming - Opportunity for businesses to align their manufacturing processes with government regulations and increase their brand reputation through CSR.
Industry Implications
1. Lighting - Companies in the lighting industry have an opportunity to innovate towards eco-friendly products and take advantage of the trend towards phasing out incandescent light bulbs.
2. Renewable Energy - The phasing out of incandescent light bulbs opens up opportunity for renewable energy providers to explore alternative energy sources such as solar lighting systems.
3. Government - Governments have an opportunity to enact more policy reforms that promote eco-friendliness, and by extension, influencing a demand for eco-friendly goods in the market.
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