Green Innovation: Balancing Economic Efficiency With Environmental Protection

Introduction

The global ecological crisis due to the different local and global environmental problems, such as overpopulation, pollution and the destruction of natural resources, which compromise the health of ecosystems and the planet as a whole, is caused by the relationship that human beings have established with the environment throughout their history (Wang et al., 2021).

It is recognized that the clearest consequences of the ecological crisis, in the form of pollution, deforestation or depletion of resources and their harmful effects on human beings, began to be felt in the second half of the 20th century, which, together with the emergence of social movements, the energy crisis and the increasing media attention to ecological issues, are phenomena that lead to a clear concern for the environment and a widespread ecological awareness in broad sectors of society (Sun et al., 2019). Heberlein (1972) maintained that science and technology can also be considered as important contributors to the emergence and general increase of environmental concern. In particular, the discoveries of science about the harmful effects of environmental degradation have increased awareness of the negative consequences of environmental choices, and technology has generated alternatives to pollution, thereby triggering responsibility for the potential effects of the choice to pollute.

In this context, Green Innovation (GI) is a hot topic and of great relevance for society, as consumers themselves are increasingly demanding measures from companies and institutions to reconcile this balance between production and environmental sustainability (Marco-Lajara et al., 2022a; Marco-Lajara et al., 2022b; Marco-Lajara et al., 2022c; Marco-Lajara et al., 2022c, Marco-Lajara et al., 2022d). Indeed, intangible assets and organizational capabilities, such as the GI, have enabled companies to overcome the adversities resulting from COVID-19 (Marco-Lajara et al., 2021a; Marco-Lajara et al., 2021b). At the same time, there are a large number of national and international bodies dealing with issues related to GI.

The increasing demands of society force companies to integrate the maximization of their business activity with the achievement of social and environmental goals. There are two main forces promoting environmental management (Chen, 2008): (1) the international system of standards and regulations concerning environmental protection and (2) consumers' environmental awareness (Chen et al., 2006). The legitimate economic imperative of any business unit must be balanced with the moral imperative to act on climate change and promote sustainable development. Whatever the reasons for companies to become actively involved in environmental management - to comply with environmental laws and regulations, to become more competitive, to gain legitimacy, etc. - the integration of environmental sustainability issues into corporate strategy and the innovation process of companies is becoming a strategic opportunity for companies (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.