Innovation and Sustainability, the best of friends

In a world that does not stop for a moment: innovation is not a luxury, it is a survival necessity. As is sustainability.

The saying "He who does not go forward, goes back" is research-proven. Those who invested in innovation in the great crisis of 2008 are today in a much better place than their competitors who decided to save there. Innovation is not a luxury, it is a survival necessity. We know today that sustainability is also a survival necessity and hence the brave connection between the two.

Sustainability and innovation do not have to be the domain of high-tech companies alone, and certainly should not come in conflict with economic growth. A few examples.

Release the jam

The field of transportation and infrastructure is one of the most conservative fields that have begun to think in an innovative way, and surprisingly also touch on the warmth of sustainability and corporate responsibility. The realization that the environmental damage of cars is significant along with the social change in lifestyle that the Corona has introduced into the work routine, the issue is once again on the agenda.

That is, among traditional projects of improving public transport infrastructure, autonomous vehicles, hybrid work model and creating joint travel applications, one can see here reference to providers of physical and mental health, equal employment opportunities for the whole population, sustainable infrastructure, and climate change prevention or SDG3, SDG8, SDG9 and SDG13.

Solar energy beyond the door

Innovation should be a value, as part of a promotion of corporate responsibility in the company and a managerial concept outlined by the company's CEO. Last year, Rav-Barich, a company producing doors, opened a new subsidiary in the field of renewable energies. An individual who comes to buy one of their doors will get the option of a home solar system by financing the burden of purchasing the doors. This creates a win-win situation, an investment that will yield the customer profits and total savings, including profit for the environment.

Digital transformation

Digital transformation is part of the game when addressing innovation as well as sustainability. Here come some interesting players into the picture.

• As part of a process of digital transformation, the Marketplace phenomenon is entering the insurance field, one that is undoubtedly conservative. A particularly interesting product is a service called Clal BEHAVE, whose function is to monitor driving habits and thus achieve two goals - a discount for cautious drivers and hence education for cautious driving. Indirectly, there is an SDG3 solution here and perhaps even an SDG5 that talks about gender equality, as it is known that women drive more carefully.

• Hashavshevet has started developing projects for small and medium-sized companies to help them perform digital transformation, get more information about their business conduct and generate steady business growth. Since digital transformation is not geographically limited, it is possible to reach SMEs even in remote peripheral areas. Creating stable jobs, fair employment, and economic growth are part of goal 8.

• An innovative initiative by Isracard can help small business owners, especially home businesses, set up an online store in a short time and without setup cost. This involves providing credit in a method similar to leasing without clogging the credit line. This is where two development goals come in - SDG8 which talks about sustainable economic growth for everyone, but also SDG5 which talks about gender equality, as many of these small businesses are female businesses.

A bite from the future

One of the most innovative fields in Israel is Food-Tech, including many technological advances from protein substitutes to innovative packaging methods. This is yet another conservative industry that is beginning to understand its environmental and health impact. The food tech industry understands that this is not only a better diet, but also something that needs to be sustainable. It will be a problem to feed the world population (SDG2 - hunger prevention) in the way we produce food today. So a bilateral process has been created here, with a bottom-up demand from consumers and a top-down cooperation of the regulator who together generate groundbreaking technological development that in turn leads to very significant financial investments. Moreover, the Israeli Food-Tech ecosystem is located in the Northern Israeli periphery (SDG9 - promoting innovation and creating a stable and sustainable infrastructure) and focuses on promoting food and beverage technologies. Another example is Phytolon which produces food coloring from natural sources and thus prevents the introduction of unhealthy substances into the body (SDG3) and pollution (SDG14).

Strive to move forward

One of the great villains of the impact worlds is of course the tobacco companies. And there's always a greenwashing dilemma. Because really, cigarettes. On the other hand, we are actually talking about a damage reduction approach similar to the moves that are being made in many industries, such as the food, energy, automotive and other industries.

About a decade ago, Philip Morris, the world's leading tobacco company, realized that the regulator would ban the sale of cigarettes. As a business whose main source of income is tobacco, the company has gathered the best minds and decided to explore alternatives to burning cigarettes, which will allow, among other things, the use of tobacco products for those who are still interested in it, but reduce the potential for harm. Part of Philip Morris' global list of goals by 2025 is that 50% of the company's revenue will come from smokeless future products and non-tobacco-related products, such as Pharma products. There is also a long list of sustainable goals that the company has set for itself by 2025.

This is where Greenwash's question arises. Are the tobacco companies really making a change or are they just saying they are making the change. Only time will tell.

What is the point here?

Impact-Tech and corporate responsibility can be a part of any innovation in any industry. Once this comes in as a consideration and the proper attention is given to these aspects, economic growth and impact growth can be achieved together.

Where is your impact ?

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