Climate change and increasing concerns for availability of fresh water as well as worries about the ecosystem have the world scrambling for more sustainable patterns of development. Implementing more environmentally responsible and less carbon intensive means of production will require scaling up of green innovations and the respective new business approaches in this area.
Metis perceives Green Innovation Management defined as the process to identify, implement and monitor new ideas and concepts that improve organizationís environmental performance while enhancing its competitiveness.
The identification includes not only the understanding of environmental demands ( shortage of resources, new environmental directives and legislation, public pressure, etc. ), but also user/customerís requirements and acceptance of environmentally - friendly products, competitorsí actions, amongst other factors that need to be considered in the innovation of processes or products.
Implementation refers to the development of the idea in the market.
And finally, monitoring is the activity that provides insight on the green innovation, to enhance our understanding of green economy in a sustainable way.