Question

Q. Discuss factors affecting the adoption of environmentally friendly technological innovation among firms. From your perspective what is the most important factor with realistic examples? (maximum 400 words )

Answer 1

Technological innovation could be a key issue for achieving a more robust environmental performance of corporations and also the economy as a full, to the extent that it helps to extend the energy potency of production processes and to cut back effluents associated to outputs. Environmental innovation might spur from exogenous driving forces, like policy intervention, and from endogenous factors associated to firm market and management ways. Despite the crucial importance of analysis during this field, empirical proof at firm political economy level, for numerous reasons, remains scarce.

factors poignant the adoption of environmentally friendly technological innovation among corporations are-

1- Policy effect-
However, expenses and prices show completely different perspectives: expenses square measure nearer to non-public and public investments, so representing a detailed and instrumental consequence of policy action. Instead, prices square measure concerning all figures of direct, indirect and shadow prices chance prices associated to policy implementation and compliance with the policy, by each personal agents and by society as giant if social market and non-market prices are accounted for. prices may be accounted for as a neighborhood for the “achievements” of the policy though with a doable negative sign that parallel
other achievements on the environmental aspect.

2- Eco-Auditing schemes square measure completely correlative to environmental innovation-
Environmental innovation and auditing schemes we have a tendency to note the recent applied homeward-bound contributions, United Nations agency through empirical observation verify the hypothesis of correlation between environmental process/product innovation and “environmental organisational innovation”. Rennings conjointly analyse the relation between numerous environmental connected innovations, that specialize in EMS associated associated inexperienced organisational company ways innovative from an organisational purpose of read. Those papers offer preliminary proof on the links between auditing, as a part of a wider environmental organisational innovatory strategy, and environmental technological innovations, suggesting the requirement of more analysis on a posh and new issue.

3- Industrial relations play a job in favouring innovation. The sign of the connection can't be outlined ex ante. The mere presence of trade unions isn't resulting in higher innovative capability. completely different faculties of thought tend to ascertain within the presence of unions at the firm level a danger for the potency of production processes, or a part of stimulation, pressure, and active interaction with the management. At the empirical level, contrastive
results are reached regarding the role of unions . we have a tendency to use a vector of artificial index capturing the standard of business relations and unions/employee involvement in management ways so as to check this link for environmental innovation. To our data the link between industrial relations and environmental innovation ways has terribly seldom been tested.

4- Correlation between organisational/technological innovation and environmental innovation- environmental innovation is, following doable complementarities relationships, completely related to different innovations. It remains doable that on the opposite hand, environmental innovations might displace different technological innovations, for numerous money and policy connected reason. the foremost recent literature emphasises that the mere introduction of recent technologies, while not organisational innovation and new human resource management practices, doesn't appear to support higher performances.

Currently, the matter of growing garbage with unsorted waste is unnoticed in several countries, however as a result of within the future the negative aspects of the matter of environmental pollution, together with plastic, will grow, therefore within the future different countries also will attempt to solve this downside.
The problem of environmental pollution with plastic waste is one among the key world issues. This downside ought to be solved altogether countries, and particularly people who "generate" the foremost.
As a part of the implementation of the required pro-ecological reforms, it's conjointly necessary to develop eco-innovations which will improve the automation of waste segregation and usage processes. additionally, it's conjointly vital to make innovative technologies for the creation of recent perishable materials which will replace plastic in packaging.