Transitioning to an inclusive green economy based on sustainable consumption and production patterns requires new sustainable business strategies and models and a supporting policy framework. Creating new sustainable business strategies and models in response to environmental, economic and social challenges is a process of eco-innovation. By applying life cycle thinking and engaging with partners across the value chain, eco-innovation helps to incorporate sustainability into business decision-making and to develop new business strategies, models and products. Eco-innovation provides a competitive advantage to business by creating win-win opportunities for economic development, positive impact on society and reducing harm to the environment.
This report identifies some of these barriers, and specifically those originating from the policies in place that determine the context in which companies operate. It helps policy makers better understand the benefits of eco-innovation and the contribution it can make towards sustainable development and national objectives. It provides practical guidance on how to align Sustainable Consumption and Production and Science, Technology and Industry policies to this objective.