Eco-innovation – a driver to sustainable businesses

Abstract

The urgency for sustainable changes in business performance both in product development or in different processes of the organizational areas emphasize the importance of eco-innovation in business strategy. Eco-innovation becomes a key component of the ongoing process of improving sustainability and for improving the environmental performance of the companies toward a more sustainable business model. Thus, a better understanding of barriers and drivers at the business level could build a better picture of the necessary framework for eco-innovation to be developed in Europe. The paper analyzes the challenges, barriers and drivers for adoption of eco-innovation in the European companies, as well as green markets and resource efficiency, based on two relevant studies carried out in Europe. In this context, the paper underline that European companies need a better support both at national and European level in order to incorporate sustainability into their core decision making and to integrating it throughout all business dimensions, enabling the creation of novel solutions to satisfy market needs. CZU: 330.341.1:334.722; JEL: O31; O32; O38; O44; DOI: https://doi.org/10.53486/dri2022.08