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Fostering Innovation for Green Growth

image of Fostering Innovation for Green Growth

Innovation is key to green growth. It helps decouple growth from natural capital depletion and contributes to economic growth and job creation. Business is the driver of innovation, but governments need to provide clear and stable market signals, e.g. through carbon pricing. This book explores policy actions for the deployment of new technologies and innovations as they emerge: investment in research and development, support for commercialisation, strengthening markets and fostering technology diffusion. Competition will be essential to bring out the best solutions.

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Innovation in green growth strategies

This chapter examines the role of innovation in green growth strategies. It first explores why innovation is important for green growth, what types of innovation are important and how green innovation could affect growth performance. It then examines the rationale for policies to strengthen green innovation and the specific barriers that influence the rate of green innovation. And finally, it examines the current state of green innovation, by examining available indicators on green innovation, including indicators on patenting, venture capital and financing, as well as available information on non-technological innovation and the development of green business models.

English

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