Green Innovation: Integrating Economic Growth With Environmental Stewardship

Introduction

The escalating global environmental crisis, fueled by various local and global challenges such as overpopulation, pollution, and the degradation of natural habitats, is a direct outcome of the historical interaction between humans and their environment (Wang et al., 2021). This crisis, characterized by significant impacts such as pollution, deforestation, and the exhaustion of natural resources, began to notably affect ecosystems and human health in the latter half of the 20th century. This period also saw the rise of social movements, an energy crunch, and heightened media focus on environmental issues, all contributing to a heightened collective environmental consciousness across vast societal segments (Sun et al., 2019). Heberlein (1972) argued that science and technology play pivotal roles in fostering environmental concern. Scientific discoveries about the detrimental impacts of environmental degradation have heightened awareness of the adverse effects of ecological decisions. Concurrently, technological advancements have presented alternatives to environmentally harmful practices, thereby encouraging a sense of responsibility towards mitigating the potential repercussions of pollution.

Within the current environmental dialogue, Green Innovation (GI) emerges as a pivotal and highly relevant subject, propelled by a growing consumer demand for businesses and organizations to achieve a harmonious balance between industrial output and ecological preservation (Marco-Lajara et al., 2022a; Marco-Lajara et al., 2022b; Marco-Lajara et al., 2022c; Marco-Lajara et al., 2022d). This interest is not just theoretical; tangible organizational assets and strategies focused on GI have been crucial for companies navigating the challenges posed by the COVID-19 pandemic (Marco-Lajara et al., 2021a; Marco-Lajara et al., 2021b). Moreover, a broad spectrum of national and international entities is actively addressing GI-related issues.

The pressure from societal expectations necessitates that corporations not only pursue maximization of their commercial operations but also strive to meet social and environmental objectives. Driving the agenda for environmental management are two principal forces (Chen, 2008): (1) global standards and regulations aimed at environmental protection, and (2) the growing environmental consciousness among consumers (Chen et al., 2006). Businesses are thus faced with the dual imperative of adhering to economic goals while also engaging in climate action and supporting sustainable development. Regardless of the motivations for engaging in environmental management—whether to adhere to laws, enhance competitiveness, or bolster legitimacy—the incorporation of environmental sustainability into corporate strategies and innovation processes is increasingly recognized as a strategic opportunity (Porter & Reinhardt, 2007).

Thus, since the introduction of the concept of GI, more and more managers are including social and environmental objectives in their decision-making process (Schiederig et al., 2012). The objective of GI is therefore to seek the well-being of society and the environment through organizational innovation. However, how has the concept evolved since its founding, what characteristics does this typology of innovations contain, under which theoretical approaches has the concept been studied, and under which theoretical approaches has the concept been studied? The research addresses these research questions in order to bring clarity to the field of study.