Eco-innovation and Sustainable Development

Abstract

The paper aims to encourage the creation of innovation policy by individual states and state institutions, management of companies in the energy sector, with the synergy of national and interstate institutions, to apply an integrative approach to eco-innovation. The purpose of this paper is to expand the existing potential for the development of eco-innovation in the business sector and industrial enterprises. The method used is based on the descriptive method, synthesis, and analysis of data collected by international organizations, as well based on research in academic circles. Appropriate incentives from governments to innovate green business models, to reduce greenhouse gas emissions (GHG), would ensure a higher level of environmental quality, adequate quality of life for all people, and a greener future. To achieve the goals, future directions of development should be focused on the development of technology and knowledge, with an adequate policy of creating a green strategy for decarbonization and sustainable development.