A report by the Pew Center for Global Climate Change has detailed seven keys to fostering low-carbon innovation.
According to “The Business of Innovating: Bringing Low-Carbon Solutions to Market” the keys to success are: Managing policy uncertainties in innovation strategies; clear direction and commitment from leaders; user-focused value propositions; business model innovations; nexus policy – organizing networks of stakeholders to allow innovation to take hold; robust innovation strategies and finally, partnerships, investments and acquisitions.
The report also says that companies at the forefront of successfully commercializing low-carbon innovations share several key attributes, including:
- A commitment to low-carbon innovation as essential to a company’s long-term business strategy.
- Involvement of public policy expertise at the highest level of corporate strategy.
- A focus on maximizing customer value along with carbon reduction.
The report also highlights case studies of Hewlett-Packard, Daimler, Alston and Johnson Controls, four companies that the report says are at the forefront of such innovation.
The report use HP’s Visual Collaboration videoconferencing product as an example of best practice. The product saved HP and its customers an estimated 66,000 metric tons of carbon dioxide-equivalent greenhouse gas emissions by elimination the need for much business travel, the report says.
In May, Victoria Kendrick from sustainability recruitment company Allen & Young wrote a column for Environmental Leader that argues that investors are becoming increasingly receptive to sustainability.