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Exploring green innovation for a net-zero carbon future

31 Oct 2023

Conventional ways of producing and consuming adversely impact the environment. Innovation is essential for transitioning to greener industry and achieving national targets and goals for a net-zero carbon future. Innovation focused on the greening of business ecosystems might take longer to show a profit but would decrease negative consequences for the environment. Public policy can be a catalyst for innovation through financial support for research, tax benefits, and mandatory reporting rules. To make innovation mainstream, effectively designed policies that address implementation challenges for overall socioeconomic development are needed.

An online workshop on Green Innovation was organized by the Development Academy of the Philippines and APO Secretariat, 4–6 October. It was attended by 22 participants from seven APO member economies. Three resource persons from Australia, the Philippines, and United Arab Emirates delivered presentations on key elements fostering innovation and green growth. The workshop covered interconnections between productivity and innovation; leadership capacity-building and training programs using an experiential learning model; policy interventions for boosting energy productivity; strategies for developing skills for green jobs; climate finance and the public sector; engaging stakeholders and building alliances; building green business ecosystems through incentives and regulations; and developing public–private partnerships (PPPs) for wider adoption of clean technology and enterprise growth. It also presented examples from different parts of the world and showcased various approaches for stimulating innovation.

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