EUROPEAN JOURNAL OF ACCOUNTING, FINANCE & BUSINESS

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ISSN: 2344 - 102X

ISSN-L: 2344 - 102X



 

Article from Volume 7, Number 2, Year 2019

ECO-INNOVATION - A WAY FOR A SUSTAINABLE ECONOMY
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Author(s): Dumitrita Nuca
DOI: 10.4316/EJAFB.2019.721
Abstract: In a world of climate change, dwindling natural resources, hazardous waste, water pollution, carbon dioxide emissions, and many other types of environmental pollution, sustainable development is the key to restoring the balance between man and nature. In this context, a new type of economy is emerging for the protection of the environment and innovative processes, playing a key role in creating this process, known as eco-innovation. Eco-innovation, as a way to improve the protection of the environment and the efficiency of the economy in terms of resource use, contributes to increasing competitiveness. Although global and European organizations have taken a number of concrete steps to stimulate eco-innovation, it still does not enjoy widespread application, with companies continuing to avoid this model, either because of costs or other reasons. Therefore, it is necessary to extend the scope from environmental technologies to innovation policies, which target processes, products and services for the environment.
Keywords: Eco-innovation; Sustainability; Organic Products; Diminishing Resources
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