New study shows companies
advancing low-carbon innovations to hedge risk, capture business,
and gain competitive edge

Even in the face
of uncertainty about climate and energy policies, forward-thinking
companies are developing innovative technologies and solutions that
reduce greenhouse gas emissions and provide growth
opportunities.

A new report target=”_blank”>The Business of Innovating: Bringing Low-Carbon
Solutions to Market released recently by the Pew Center on
Global Climate Change finds that leading companies are
strategically pursuing low-carbon innovations to hedge risks,
capture new business, and stay competitive with emerging markets
and technologies.

“Opportunities for low-carbon innovations exist throughout the
economy, anywhere that energy is used, and companies able to meet
the challenges of a low-carbon market with effective solutions will
prosper,” said Eileen Claussen, Pew Center on Global Climate Change
President.

“In a world where knowledge is power, the findings in this study
will help companies make informed decisions that benefit their
bottom line while improving the environment and economy.”

Written by Andrew Hargadon, Professor of Technology Management
at the Graduate School of Management, University of California,
Davis, the report provides a set of practical lessons for companies
pursuing low-carbon innovations.

Companies at the forefront of successfully commercializing
low-carbon innovations share several key attributes, including:

• A commitment to low-carbon innovation as essential to a
  company’s long-term business strategy.Commitment starts at
  the top and requires strong internal leaders to articulate the
  value of low-carbon innovations to the company’s future
  growth.
  
  
  
   



• Involvement of public policy expertise at the highest
  level of corporate strategy.Companies formally incorporate
  policy insights into strategic decisions. They also proactively
  engage with policymakers to shape policies and standards that are
  supportive of low-carbon innovation.
  
  
  
   



• A focus on maximizing customer value along with carbon
  reduction. In order for low-carbon innovations to be
  successful, they must provide additional value for customers.
  Companies often must find innovative ways to reduce the risks
  associated with adopting new technologies.

The report is organized in four main sections that examine the
motives and opportunities for pursuing low-carbon innovation; the
unique characteristics distinguishing low-carbon innovation from
other types of business innovation; seven keys to success in
pursuing low-carbon innovation; and case studies of eight
low-carbon solutions by four leading companies: Alstom SA, Daimler
AG, HP and Johnson Controls, Inc.

“Mitigating the impacts of climate change while meeting the
needs of a booming world population might be tough, but it isn’t
impossible-it’s a matter of finding the right solutions and setting
them in motion. As the largest IT company in the world, HP can play
a unique part in making that happen,” said href=”/business-innovation/conference-bios#Jaspers”>Engelina
Jaspers, Vice President of Environmental Sustainability at
HP.

“This project with the Pew Center on Global Climate Change
highlights technologies and innovations that can drive
sustainability from niche to mainstream.”

The report is the culmination of a larger research initiative
designed to understand the challenges and opportunities that
companies face when bringing low-carbon technologies, products, and
services to market.

The report findings are based on a survey of the Center’s
Business Environmental Leadership Council (BELC) and other leading
companies, a series of workshops on different aspects of low-carbon
innovation, in-depth case studies of efforts at four companies, and
broader research on innovation. The project was funded by a
generous grant from HP.

The report findings will be explored in more detail at the
Center’s upcoming low-carbon business innovation href=”http://www.pewclimate.org/business-innovation/conference”
target=”_blank”>conference in Atlanta taking place this
week.

Source: www.pewclimate.org