Several government leaders are using the buzzword “innovation” as the salvation for spent economies. Is this a possibility in the new low carbon economy? Indeed, it is possible, and this can be an exciting time in human history.
For innovation to transform the economy, several things have to be present.
But, first, what is innovation? Simply put: innovation is the useful application of a creative idea. It is a creative process with a practical end in mind. It can be finding a solution to a problem, or meeting a need that is practical, and tangible. It is repeatable, and has intellectual and economic value. Innovations are often patentable. Most innovations take place in manufacturing, and this is why manufacturing is so valuable to the economy.
How will Innovation occur?
Anybody with an imagination can innovate. That is why it is important to be inclusive, especially when creating a new low carbon economy. A respectful and open environment encourages ideas being expressed.
Converting ideas into something tangible requires a good broad education, and resourcefulness.
Innovation often takes place when there is a failure, which forces an in-depth examination. For example, the common international washroom symbols of a man and a woman on separate doors was created at the World Exhibition in Montreal when all the translations required would have covered the whole door. A simple symbol that transcended all languages simply and clearly was created. The new design also saved time, and money.
The planet is the hottest on record. We are in a failure mode. This is the best time for innovation.
Innovation is also an Opportunity to Design for the 21st Century
Most things in use no longer meet our needs, or will no longer meet our needs for the next 60 years. Now is a golden opportunity to look at everything with fresh eyes to design things that are better, use less material, and have zero waste.
Creating good design is intellectually challenging, but also satisfying when the end product is functional and elegant.
Innovation and good design will stimulate, and maintain leaders in the new economy as it spreads to the rest of the economy. Remember the jumbo jet? When the Boeing 747 was introduced, most airports didn’t have a long enough runway, or the capabilities to process the substantial increase in passengers, luggage, washrooms, etc., and yet today we take this all for granted due to better design. This is also called progress.
Can innovation be the salvation for the economy?
Yes. The 200 countries that signed the Paris Climate Agreement have come to the conclusion they are in an unsustainable position regarding the cost of climate change if nothing is done. We have no alternative but to implement a low carbon economy.
By being innovative and redesigning things and processes, humankind has the opportunity to transform our existing economy that no longer works to a low carbon economy that is sustainable.
Sharolyn Mathieu Vettese
President, SMV Energy Solutions
www.smvholdings.com