Western companies should cash-in on green innovation in the east

by Search Gate staff. Published Mon 25 Nov 2013 12:07
The East holds the key to green innovation

Western companies should look to the green innovation in the east in order to keep up, according to WWF-UK's new green game-changers report.

The report, published today, explores global green trends with a particular focus on Asia and highlights the potential for western and Asian firms to learn from each other and collaborate around solutions that tackle various regional, national and international challenges.

Significant global trade opportunities around clean and green innovations are evident and WWF hopes its latest green game-changers report, which was produced alongside Verdantix, will inspire businesses to make the most of the green economy.

It is well known that Asian innovations are already sending ripples across the globe with China bringing integrated electric vehicles, renewables energy and battery technologies to the west, frugal innovation in India highlighting how firms can dramatically cut energy and natural resource use, and Bangladeshi micro-finance and micro renewables services illustrate how new bottom-of-the-pyramid approaches can work in any market.

Conversely, business opportunities are opening up in Asia for western firms that can help tackle social and environmental challenges alongside the rapid economic growth across the continent. The increasing desire for on and off-grid renewable energy, car-sharing services, clean cooking stoves and other cleantech services present opportunities for western firms that can complement home-grown solutions.

Dax Lovegrove, head of business sustainability and innovation at WWF-UK said: “Asia is fast becoming the land of opportunity and disruptive influence. There are incoming Asian innovations for western firms to adapt to and work with.

“There are also export opportunities that arise from efforts across Asia to solve pollution, congestion, resource scarcity and other challenges. China is set to spend over $500 billion in the next five years on renewables, energy efficiency and cutting air pollution and this presents a major opportunity for western firms that can bring cleantech solutions to the continent.”

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