Innovation in Sustainability

Sustainable innovation is the practice of making intentional changes to products and services, that in the long term have an impact both socially and environmentally – whilst also having economic benefits for a company. Sustainable innovation can involve developing novel products or changing operational processes to ones that prioritise sustainability – such as reducing waste or emissions. With 38% of executives already acknowledging that sustainability is a top priority and 86% of organisations having a sustainability strategy in place, now is the time to act and prioritise innovation in sustainability today.

What are Examples of Sustainable Innovation?

• Public electric transport – Public transport has been innovated to have a sustainable and environmental impact, through the use of electric vehicles. Such transport is better for the environment as it reduces the emissions being generated, such as CO2 and NOx.
• Plastic recycling – The plastic industry has encouraged sustainable innovation through recycling, moving away from their ‘take, make and dispose’ methods to ‘reduce, reuse, recycle’. By innovating their processes to include recycling, they are helping contribute to a circular economy.
• Bio-fuel – Companies have innovated their processes by turning waste products into biofuels, such as the company Bio-bean which has turned their waste coffee into fuel to help power London double-decker buses.

How Can I Achieve Sustainable Innovation?

Ultimately, to achieve sustainable innovation you must innovate your services and processes whilst having a positive impact on the environment. This can be achieved by:

• Reducing the use of natural resources in manufacturing and distribution processes
• Reducing the production of waste
• Introducing the opportunity to reuse and recycle products
• Using more efficient and environmentally friendly packaging

Source: Network for Business Sustainability, Forbes, IBM Institute for Business Value & McKinsey