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Innovation and its potential in the context of the ecological component of sustainable development

Innovation and its potential in the context of the ecological component of sustainable development Purpose – This paper seeks to discuss technology transfer – and its role in climate change mitigation – within the United Nations framework of sustainable development. Innovation is broadly considered as a tool to bring about breakthrough results in climate change alleviation. To ensure that innovative technology serves sustainable development, a massive international effort on the part of the regulators is required to create an integrated legislative framework to standardize eco‐innovation policies worldwide. To facilitate a global ecological regulatory framework, it is essential to use universal measurement tools which provide input to the decision‐making process at an international level, and address the mechanism of monitoring progress. Design/methodology/approach – The concept of eco‐innovation potential is introduced as one of the inputs to the decision‐making process on the global level. A composite index with such constituents as ecological balance (deficit or reserve), innovation, and energy intensity of economy, is built. The concept of innovation credits is introduced. Findings – The simulation shows that ecological balance can potentially be increased for countries with greater eco‐innovation potential. The innovation credits can be given to countries with the highest eco‐innovation potential to foster eco‐innovation and perform technology transfer. Originality/value – Earlier research developed focus on innovation as a means to transition to sustainable development and to create climate positive technological regimes applied at a national or industry level. The paper illustrates that the eco‐innovation potential index can be applied globally and can provide key input to the decision‐making process at a global level. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Sustainability Accounting, Management and Policy Journal Emerald Publishing

Innovation and its potential in the context of the ecological component of sustainable development

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
2040-8021
DOI
10.1108/20408021111185402
Publisher site
See Article on Publisher Site

Abstract

Purpose – This paper seeks to discuss technology transfer – and its role in climate change mitigation – within the United Nations framework of sustainable development. Innovation is broadly considered as a tool to bring about breakthrough results in climate change alleviation. To ensure that innovative technology serves sustainable development, a massive international effort on the part of the regulators is required to create an integrated legislative framework to standardize eco‐innovation policies worldwide. To facilitate a global ecological regulatory framework, it is essential to use universal measurement tools which provide input to the decision‐making process at an international level, and address the mechanism of monitoring progress. Design/methodology/approach – The concept of eco‐innovation potential is introduced as one of the inputs to the decision‐making process on the global level. A composite index with such constituents as ecological balance (deficit or reserve), innovation, and energy intensity of economy, is built. The concept of innovation credits is introduced. Findings – The simulation shows that ecological balance can potentially be increased for countries with greater eco‐innovation potential. The innovation credits can be given to countries with the highest eco‐innovation potential to foster eco‐innovation and perform technology transfer. Originality/value – Earlier research developed focus on innovation as a means to transition to sustainable development and to create climate positive technological regimes applied at a national or industry level. The paper illustrates that the eco‐innovation potential index can be applied globally and can provide key input to the decision‐making process at a global level.

Journal

Sustainability Accounting, Management and Policy JournalEmerald Publishing

Published: Nov 8, 2011

Keywords: Innovation; Eco‐innovation; Eco‐innovation potential; Ecological balance; Regulation; Innovation credits; Sustainable development

References