Blogger’s Park - Sustainable innovation

Blogger’s Park : Sustainable innovation

By Nand Kishore Chaudhary

There are no two opinions about the fact that innovation is critical for the growth and survival of business organisations. Firms that refuse to embrace innovation face stagnation. It is equally true that the responsibility to ensure sustainable innovation lies on the shoulders of ethical global business leaders.

Ethical, social entrepreneurs appreciate that sustainability has to be at the heart of innovation. Businesses have a moral responsibility to minimise adverse environmental impact.

Innovations have to be in tune with the Sustainable Development Goals (SDGs) of the United Nations. Apart from ensuring life on land and below water, eradicating poverty, providing quality education to kids, improving the quality of life, good health, and well-being, the 17 SDGs include:

– Clean water and sanitation

-Climate action

-Sustainable communities and cities, and

-Decent wages

The challenge for business organisations is to avoid the temptation of applying quick fixes. Solutions must be all-encompassing to address chronic problems while keeping long-term solutions in view. Organisations should be open to meaningful collaboration to address complex issues.

Sustainable innovations will thrive and become attractive only when innovations are embedded in the business organisation’s culture. If firms fail to do this, innovations will be seen as obstacles in the way of short-term goals and profits.

Sustainable innovations would also demonstrate flexibility to embrace ideas such as green lighting, renewable energy, solar glass, biodegradable plastic, biofuel, sustainable planning, green building, and energy storage. Firms will have to act now to stop global warming.

Companies must become more innovative in using technology to preserve the environment. For instance, they can employ Amp Robotics, a technology company specialising in using Artificial Intelligence and robotics in waste management and recycling.

Global businesses must make changes to ensure their products and services create meaningful long-term environmental benefits while producing profits. Business leadership will be tested on this like never before. However, an urgent need is to employ effective eco-friendly techniques while striking a balance between tradition and innovation.

The author is a social entrepreneur and chairman & MD at Jaipur Rugs

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