GREEN INNOVATIONS AND THEIR APPLICATION IN MODERN BUSINESS
Rapid industrial and technological development has significantly impacted the natural environment. As a result, environmental protection has become an imperative. In response to growing ecological awareness and regulatory pressure, companies are adopting innovative practices across their operatio...
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| Format: | Article |
| Language: | English |
| Published: |
Oikos Institute - Research Center Bijeljina
2025-07-01
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| Series: | Collection of Papers New Economy |
| Subjects: | |
| Online Access: | https://conference.oikosinstitut.org/files/proc/Vol3No1/9.pdf |
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| Summary: | Rapid industrial and technological development has significantly impacted
the natural environment. As a result, environmental protection has become
an imperative. In response to growing ecological awareness and regulatory
pressure, companies are adopting innovative practices across their operations.
Green innovations now play a key role in reducing the environmental footprint
of business activities. Green innovation involves implementing eco-friendly
products and processes, improving resource efficiency, and minimizing
environmental harm. These innovations often require new or improved
business methods, technologies, and materials aimed at maximizing positive
impact. In practice, this includes new production equipment, sustainable raw
materials, and cleaner manufacturing techniques. Renewable energy is gaining
ground, driven by innovations that lower costs and increase efficiency. As
renewables begin to replace fossil fuels, they offer lower carbon emissions and
reduced pollution, which are essential for addressing the climate crisis. Green
innovation is therefore crucial for managing renewable energy sources and
achieving sustainable business models. Industries with high environmental
impact are more likely to adopt green innovations. The automotive industry,
one of the major polluters both during production and through its products,
has introduced green technologies to reduce its footprint. Companies like
General Motors and Tesla are leading examples of this transformation,
demonstrating how green innovation supports long-term environmental and
economic sustainability. |
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| ISSN: | 2831-1728 2831-1736 |