It was one of those few moments in life where you will remember where you were and what you were doing. The historic inauguration of America's first African American president coming at a time of incredible strife and challenges is a moment that, regardless of political persuasion, represents a milestone in our nation's history.

No time to revel: On Day 1, President Barack Obama faced an unprecedented list of problems. As if our hangovers from the gala soirees were not enough, the January 21 Wall Street Journal devoted a lot of ink to the record drop in the market on inauguration day … in a backhanded way, suggesting there may be a cause and effect relationship. So began a very tough road for our new president.

For those of us in the sustainability movement, the question is whether the protection of people and our planet will, once again, take a back seat to other issues. We have seen this movie before … economic downturns and foreign entanglements will dominate the new president's agenda for some time. And they should … the country is in tough shape. A true leader will take on the toughest challenges first.

The question is whether the challenges of sustaining our environment have reached the tipping point where they are so intertwined with other concerns that there is no longer a distinction. If the inaugural address is any indication, the answer is yes.

Before even taking office, Obama selected his energy and environment team -- a group of seasoned veterans -- and has been consistent and clear that the development of cleaner forms of energy and transportation is imperative to our economic recovery. The driver of this policy is the development of jobs and competitiveness, not the dire need to "clean up" our planet. The rhetoric has changed from "the sky is falling" to "we can build new economy based on clean technology and improve our competitiveness."

This switch from pessimism to optimism is -- pun intended -- a breath of fresh air. It was not too long ago that support for cleantech was branded "industrial policy" or meddling with the invisible hand of market forces. Now, innovations that improve our environment are at the top of our economic to-do list.

Smart companies from all sectors will see this change and move swiftly to take advantage. Silicon Valley is already packed with cleantech start-ups, from small ventures like EOS-Climate to the better known Tesla Motors. These companies are on the front lines for this movement … but what about everyone else?

Even for companies that are not cleantech start-ups, there are advantages to be gained from the shift in policy. Most business leaders look at environmental issues as a cost of doing business -- a necessary evil. Corporate social responsibility reports focus on ways the companies have cleaned up the environment or given some of their profits to charity. While doing good is laudable, it falls short of a business strategy. Even cleaning up existing manufacturing or product lines won't quite cut it in the new green economy.

Innovation for the new green economy starts with a mental shift: Instead of looking at the world as a set of markets to exploit with current products or services, enlightened CEOs will start to see the world as a set of compelling problems that they might be able to help solve. Most of the problems we face today -- global warming, resource shortages, poverty, disease and the lack of clean water -- are too big for any single company to tackle. But in these massive challenges lie opportunities. Smart business leaders will start to examine their core competencies in a whole new light -- in essence to ask the questions "What can we do to help? And by helping, how can we profit?" This is the true essence of sustainability -- people, planet and profit.

The examples are already there -- from Toyota's Prius to GE's ecoimagination product line -- companies that are designing products and services to meet these compelling needs are well positioned. The flip side is evident, too -- the big three auto makers could not resist the higher margins in SUVs and are paying the price for missing the signals when the party was ending.

So, at the start of the Obama Presidency, it is a great time to take stock of where we have been and, most importantly, where we are heading. The title of Obama's recent memoir, "The Audacity of Hope," says it all. But hope alone won't get us there … American businesses of all types need to take a hard look at their strategies and position themselves to win in the green economy.

Tim Mohin has worked in environmental and sustainability issues in government and industry for 24 years and led the development of the National Environmental Technology Act of 1993.