Exploring new metrics to Measure Environmental Innovation

Exploring new metrics to Measure Environmental Innovation

Technological development is one of the key factors for a successful transition to a low-carbon and resource-saving economy.

To achieve the goals set, new methodological approaches to assessing the effectiveness of green innovations are required. Traditional evaluation criteria - patents, R&D spending and social surveys - are not very informative, untimely, associated with high data collection costs, focusing only on certain aspects of innovation activity.

The authors of the OECD report "Exploring new metrics to measure environmental innovation" propose two groups of new indicators for the analysis of technological progress in the field of sustainable development. The first group is focused on the assessment of technological measures to combat climate change: metrics based on licensing deals and metrics based on patent assignments. The second group of indicators is aimed at measuring innovative activity in the field of ecology based on venture capital data.

The paper also presents sectoral, timeline and country trends in environmental innovation. In conclusion, it is concluded that it is necessary to study additional data sources to use the proposed indicators and consider an expanded set of measures to support innovation.

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