Verdantix Produces Game-Changing Sustainable Business Innovations Report For WWF
London, UK. September 7, 2010. Game-changing sustainability innovations are based on business model transformation, imaginative ecosystem partnerships and creative regulations that drive profit-seeking behaviours – a stark contrast to standard views of technology innovation. This new insight into sustainability innovation is the key finding of a report produced for WWF by independent analyst firm Verdantix. Following an analysis of 120 sustainability innovations in dozens of countries, Verdantix and WWF shortlisted 20 innovations due to their game-changing potential.
"Cleantech innovations, such as thin-film solar, waterless washing and carbon negative cement, aren’t the whole picture" said James Beresford, the Verdantix Analyst who authored the report. "The age of sustainability innovation will reflect much bigger changes in thinking and business success. For example, we found regulatory innovation that couples profits from energy firms with demand reduction. Industrial symbiosis partnerships turn waste streams from one firm into inputs for another firm, turning waste into profit. This demonstrates that sustainability is much bigger than technological innovation."
To produce the report, "Game Changing Sustainable Business Innovations" Verdantix conducted an initial market scan which revealed 120 business innovations, then applied screening criteria to shortlist those that were truly game-changing. Innovations needed to demonstrate that they were: different from the pack, globally scalable, sustainable over time, commercially validated, capable of providing genuine environmental benefits and possessed potential for high commercial impact. Examples of the new wave of sustainability innovations included:
Advertising-funded solar street-lights. This innovative business model provides free solar lighting in exchange for the advertising space below the light. Shuchi Energy Ad Promotions is a joint venture formed by Sunwatt and Shuchi, based in Hyderabad, India. The firm offers lighting and advertising space in schools, universities and colleges across India. This model overcomes funding issues, generates a profit and is globally scalable.
A dating agency for industrial symbiosis. The National Industrial Symbiosis Programme (NISP) in the UK is a membership network that connects companies who can achieve mutually profitable re-use, re-processing and recovery of waste streams. MJ Allen avoided the cost of sending 500 tonnes of waste sand to a landfill by partnering with Hanson, who used it in Asphalt manufacturing. The model has been exported to other countries around the world.
‘Top Runner’ product standards race. This regulation used by the Japanese government leverages industry collaboration, competitive dynamics and reputational risk. The programme sets minimum efficiency standards based on the ‘Top Runner’ or leading product in a given industry category. This efficiency baseline is periodically raised according to the speed of innovation. Manufacturers race to achieve the "Top Runner" status in their product category, while products failing to meet the baseline are labelled negatively.
"WWF is convinced that the business community stands to gain from sustainable innovation, and offers one of the most effective routes to finding solutions to the world’s most pressing environmental challenges" commented Dax Lovegrove, Head of Business & Industry Relations at WWF-UK. "Environmental threats such as water scarcity and deforestation stimulate leading businesses to adapt to the declining availability of natural capital. But sustainability pressures also present opportunities to firms that innovate in this direction, generating cost savings and competitive advantage. This report is part of our new green game-changing innovation bank, and we invite businesses, entrepreneurs and anyone with an interest in innovation to participate and share their examples at www.wwf.org.uk/innovation."
"We fully support the strategic perspective adopted by WWF on innovation” commented Verdantix Director, David Metcalfe. “For sustainable business thinking to take hold, executives need to see that game-changing sustainability innovations will generate a profit today and in the future. When the financial benefits of these innovations become proven, they will replace unsustainable natural resources, technologies, processes and markets. Firms need to participate in innovation networks and ensure they are not caught out on the wrong side of the sustainability mega-trend."
About Verdantix
Verdantix is the fastest-growing, independent, analyst research firm focused on sustainable business, climate change and energy efficiency. Visit: www.verdantix.com.
Press Contact
Elinor Newman-Beckett, press@verdantix.com
+44(0)203 371 6792
Tuesday, 07 September 2010