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Eco-innovation

Eco-innovation is forging cleaner, more sustainable products.
© Adam Smith Center, Singapore

Eco-innovation, as defined by the United Nations University, is “the production, assimilation or exploitation of a product, production process, service or management or business method that is novel to the organization (developing or adopting it) and which results, throughout its life cycle, in a reduction of environmental risk, pollution and other negative impacts of resources use compared to relevant alternatives.”

Relatedly, the OECD launched the Green Growth and Eco-innovation Project in 2008 to improve the understanding how innovation can lead to new technological and system solutions in the face of global challenges and to provide the industry with relevant means to improve its contribution to green growth and sustainable development. In its publications, the OECD clearly indicates the key role of eco-innovation in green growth, which refers to economic growth that is ecologically sustainable.

Innovation is key to supporting sustainability in the cosmetic industry. One way to promote sustainability within the beauty industry is through Life Cycle Thinking (LCT). This framework is widely adopted by many beauty brands and is a noteworthy starting point for sustainability assessment. It strives to promote and emphasise sustainable economic, social and environmental development.

© Adam Smith Center, Singapore
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Environmental Entrepreneurs: Strategies for Green Business

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