There is increasing importance being placed on green innovation. Nowadays when you walk into a Home Depot, Lowe’s, Target, Walmart or other home improvement or general shopping store, you are hit with 1,001 ways you can save on energy, recycle, or other methods to become more green. But, the need to “go green” isn’t just within our homes. Green innovation is becoming a major focus for companies of all sizes. For example, the transportation industry is continually looking into new travel routes and alternative forms of fuel that will enable to not only reduce cost but also reduce their carbon footprint. While you could probably rattle off a list of some immediate actions you could take within your office to go more green, there are more companies coming together to collaborate on other effective green innovations.
Several major corporations have begun developing communities and collaborating to advance environmentally friendly innovations. Two main groups have formed over the past couple years: Eco-Patent Commons and Green Xchange. Eco-Patent Commons is a collective consisting of IBM, Nokia, Pittney Bowes, Sony and the World Business Council for Sustainable Development. According to a New York Times article, their mission is simple: “Pledge environmental patents to the commons, and anyone can use them – for free.” Green Xchange is comprised of Creative Commons, Nike and Best Buy but takes a bit of a different angle. Companies that contribute green patents to the Xchange have the option of charging a fixed annual licensing fee and can also instate restrictive licensing to keep competitors away. Innovations created by one of these companies may have benefits for another in the group that they can license and roll out within their organization. One example given in the New York Times article was that of Nike’s air-bag patent for cushioning shoes:
Nike’s air-bag patent for cushioning shoes is crucial to its core shoe business, but may have environmental benefits in other industries — perhaps in prolonging the useful life of tires. Green Xchange could enable Nike to license the air-bag technology selectively to noncompeting companies.
In fact, the need to “go green” and move forward green innovations is no longer an option for businesses, it is an imperative, according to Mark Atkins, CEO of Invention Machine, a Boston-based firm that helps companies design predictable and sustainable innovative processes. To see why Mark thinks it is imperative for businesses to become more environmentally friendly, check out the below interview.
If you can’t see this video, you can also catch it on YouTube.
Has your company started moving towards being more environmentally friendly? In what ways is your company investing in green innovation? Do you even think they should be investing in something like green innovation?
Photo Credit: Micky.l
