by Shane Henson — November 11, 2011—Even in the face of uncertainty about climate and energy policies, forward-thinking companies are developing innovative technologies and solutions that reduce greenhouse gas emissions and provide growth opportunities. A new report released by the Center for Climate and Energy Solutions (C2ES), formerly the Pew Center on Global Climate Change, finds that leading companies are strategically pursuing low-carbon innovations to hedge risks, capture new business, and stay competitive with emerging markets and technologies.
For companies wishing to do the same while improving the environment and the economy, The Business of Innovating: Bringing Low-Carbon Solutions to Market provides a set of practical lessons. Companies at the forefront of successfully commercializing low-carbon innovations share several key attributes, including:
- A commitment to low-carbon innovation as essential to a company’s long-term business strategy. Commitment starts at the top and requires strong internal leaders to articulate the value of low-carbon innovations to the company’s future growth.
- Involvement of public policy expertise at the highest level of corporate strategy. Companies formally incorporate policy insights into strategic decisions. They also proactively engage with policymakers to shape policies and standards that are supportive of low-carbon innovation.
- A focus on maximizing customer value along with carbon reduction. In order for low-carbon innovations to be successful, they must provide additional value for customers. Companies often must find innovative ways to reduce the risks associated with adopting new technologies.
- Involvement of public policy expertise at the highest level of corporate strategy. Companies formally incorporate policy insights into strategic decisions. They also proactively engage with policymakers to shape policies and standards that are supportive of low-carbon innovation.
The report is organized in four main sections that examine the motives and opportunities for pursuing low-carbon innovation; the unique characteristics distinguishing low-carbon innovation from other types of business innovation; seven keys to success in pursuing low-carbon innovation; and case studies of eight low-carbon solutions by four leading companies: Alstom SA, Daimler AG, HP and Johnson Controls Inc.
