Research of Eco-Innovations as the Basis for the Sustainable Economic Development: Theoretical Dimensions
DOI:
https://doi.org/10.31767/su.2(101)2023.02.02Keywords:
climate change, eco-innovations; green innovations, sustainable innovations; sustainability-oriented innovations.Abstract
The article discusses theoretical dimensions of research of eco-innovations as the basis of the sustainable economic development. The role of eco-innovation is substantiated and the formation of the concept of eco-innovation is studied.
The essence of eco-innovations is defined, with showing their distinction from other categories of innovations. A specific feature of eco-innovations, technologies for renewable energy in particular, is that they a require political support and have global market potentials. Eco-innovations cannot be interpreted in a way similar to other innovations (e. g. from the perspective of dual external effects or regulatory effects of pull and push). They need a relevant theory and specific policies. The types of innovations are characterized. The unclear borderlines between various types of parallel innovations are highlighted, which complicates research processes.
Innovations and eco-effectiveness are key components of national and international economic strategies and strategic components of the sustainable development. Innovations increase the effectiveness and profitability of businesses, allowing them to penetrate new markets and expand the existing ones. Hence, being a critical factor behind the sustainable development, innovations promote employment growth, social welfare and better quality of life.
The drivers of eco-innovations are characterized. The contribution of eco-innovations in the sustainable economic development and transformation of the economy in low-carbon or circular one is substantiated. Given that eco-innovations are a process and that the environmental effects of the product lifecycle have to be comprehensible, eco-innovations are very difficult to measure. The most common methods used for this purpose can be grouped in the following way: analysis of surveys; analysis of patents; analysis of digital and documentary resources. Measurement of eco-innovations at various levels, be it company, industry, region country or international level, is a complex and multipurpose problem.
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