Green Innovation

Courtesy :innovation policy platform

Green Innovation

What is green innovation?
Green growth means fostering economic growth and development while ensuring that natural assets continue to provide the resources and environmental services on which our well-being relies. Increasing concern about the future sustainability of economic growth patterns underpin the demand for a greener model of growth. Existing production technology and consumer behaviour can only be expected to produce positive outcomes up to a point; a frontier, beyond which…Expand »
Figure 1. Renewable energy supply, % of total primary energy supply
What is the role of innovation in green growth?
Recent OECD analysis suggests that without intensified policy action, global greenhouse gas (GHG) emissions are likely to increase by 70% by 2050. Other environmental and social challenges are equally demanding, including improving the quality and availability of water, dealing with the use and disposal of toxic products and maintaining or increasing biodiversity.
Green growth implies policies that either reduce resource use per unit of value added

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What are the sources of green growth?
Green growth has the potential to address economic and environmental challenges and open up new sources of growth through the following channels OECD (2011):
    • Productivity. Incentives for greater efficiency in the use of resources and natural assets: enhancing productivity, reducing waste and energy consumption and making resources available to highest value use.
    • Innovation. Opportunities for innovation, spurred by policies and framework conditions that allow for new ways of addressing

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Figure 2. Environmental productivity, USD per Kg of CO2 emitted, 2005 constant USD PPPs
Policy intervention on green innovation
    • Public governance plays an essential role in transitioning to green technology and innovation. A country’s capacity to innovate is to an extent determined by the quality of the governance of STI, i.e. the set of largely publicly defined institutional arrangements, incentive structures, etc., that determine how the various public and private actors engaged in socioeconomic development interact in allocating and managing resources devoted to STI. (See Public governance for green

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What factors affect green innovation?
    • International linkages can promote international co-operation in a range of policy areas, not least environmental regulation. International co-operation is necessary for setting global standards on environmental and energy technologies, environmental regulations on industrial production, trade policy and technology deployment mandates. (See International linkages for green innovation.)
    • Technologies like ICTs (see ICTs and green innovation) and have the potential to improve the

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References
  • OECD (2010), “Interim report on the Green Growth Strategy”, C/MIN(2010)5, OECD, Paris.
  • OECD (2011), Towards Green Growth, OECD Publishing, Paris.
  • OECD (2012), “Transitioning to green innovation and technology”, in OECD Science, Technology and Industry Outlook 2012, OECD Publishing, Paris, http://dx.doi.org/10.1787/sti_outlook-2012-5-en.
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