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The idea of eco-innovation is fairly recent. [1] One of the first appearances in the literature was in a 1996 book by Claude Fussler and Peter James. [2] In a subsequent article in 1997, Peter James defined eco-innovation as "new products and processes which provide customer and business value but significantly decrease environmental impacts". [3]
Eco-industrial development (EID) is a framework for industry to develop while reducing its impact on the environment. [1] It uses a closed loop production cycle [2] to tackle a broad set of environmental challenges such as soil and water pollution, desertification, species preservation, energy management, by-product synergy, resource efficiency, air quality, etc. [3]
Ecotechnology is an applied science that seeks to fulfill human needs while causing minimal ecological disruption, by harnessing and manipulating natural forces to leverage their beneficial effects.
The private sector, as the chief engine of economic activity on the planet, and a major source for creativity, innovation and entrepreneurship, must be involved in trying to achieve sustainability." Sustainopreneurship is a candidate to be the accentuating factor to give even more leverage to forces emerging from world of business activities to ...
A lot of companies using ecopreneurship principles incorporate sustainable product design. Product design incorporating sustainability can happen at any stage of the business, including material extraction, logistics, the manufacturing process, disposal, etc. Sustainable product design can be achieved using innovative technology (or Eco-innovation), cradle to cradle design, bio-mimicry, etc.
The intersection of technology and sustainability has led to innovative solutions aimed at enhancing the efficiency of renewable energy systems. One such innovation is the integration of wind and solar power to maximize energy production.
There is a close relationship between the ecolabeling process and the eco-innovation because it promotes the emergence of new green products and it improves the organizations environmental management strategy. Moreover, ecolabeling process is a "cyclical eco-innovation process in which consumers, firms, governments and institutions interact.
Eco-investing or green investing is a form of socially responsible investing where investments are made in companies that support or provide environmentally friendly products and practices. These companies encourage (and often profit from) new technologies that support the transition from carbon dependence to more sustainable alternatives. [ 19 ]