As more companies are looking for ways to lower their climate footprint, clean innovations are beginning to accelerate, writes Christoph Schweizer of Fortune.
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Technological Innovation and Climate Change
Schweizer writes that “until recently, there has been much scepticism among incumbent companies, investors, and governments regarding climate action. Setting and meeting targets might have been the right thing to do, but it would limit growth and increase costs…But now it’s becoming clear that sustainability is an essential dimension of competitiveness.”
“Innovation doesn’t have to be about new technology. Breakthroughs are essential, but there’s also huge potential in deploying and scaling up existing technologies through business model innovation and digitization.”
- Six of Fortune’s Fortune 50 companies are climate technology firms.
- Clean energy companies such as NextEra Energy are creating annual shareholder returns that are close to 30%.
- Market forces and competition are making climate innovations more profitable for companies and more affordable for consumers.
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