Category: Green Innovation

Climate, Innovation, Diversification and Green Business Models

Businesses have a clear commercial interest in diversifying their activities by innovating strategically, according to Boston Consulting Group.

The need to address climate change has become a corporate priority that sits at the heart of boardroom concerns, not just for environmental reasons but also because it's what consumers want and what investors want. It has become increasingly clear that this is where the best growth opportunities lie in coming decades, and that failing to tackle the wave of disruption that the net zero transition brings is a threat to any business. Innovating into resilience is the key for future growth.

Companies have started to commit to change, but we need to go much further - ‘sustainability as usual' is not enough any longer. Companies need science-based targets and full transparency about what they're doing - and they need to look outside their core business to reap the climate and business benefits.

Green growth and eco-innovation

Innovation in technologies and how they are applied are key to enabling industry to create new business values while also benefiting people and the planet. In recent years, manufacturing companies have been upgrading their efforts towards sustainable manufacturing from pollution prevention to integrated approaches that take into account product lifecycles and wider impacts. Eco-innovation helps to enable this evolution through a combination of technological and non-technological changes that can yield substantial environmental improvements. The current economic crisis and climate change negotiations should be taken as a great opportunity to move towards a green economy by accelerating eco-innovation