Factors Affecting Companies' Eco-Innovation

Abstract

An effective way to combine environmental protection with the sustainable development of companies is the development, implementation and distribution of environmental innovations that can reduce the consumption of raw materials, natural resources and harmful emissions and improve the working conditions of people. Environmental innovations play an increasingly important role in the competitiveness of companies. They open up new market opportunities due to the growing demand for sustainable products and can improve business performance. To understand why companies integrate environmental sustainability into the innovation process, it is important to ask the question: What are the driving forces and motives for the adoption of eco-innovation by companies? A literature review was conducted to identify the determinants of eco-innovation in companies. After defining search criteria, 16 articles were choosen for analysis. The work reveals external, internal and control factors for the adoption of eco-innovations by companies mentioned in the articles considered by the author. Based on a systematic review, this paper formulates proposals for further research on the economic efficiency of introducing eco-innovations.