{"id":23219,"date":"2024-04-22T12:18:34","date_gmt":"2024-04-22T10:18:34","guid":{"rendered":"https:\/\/www.fundacionbankinter.org\/?post_type=noticias&#038;p=23219"},"modified":"2025-12-01T23:16:55","modified_gmt":"2025-12-01T22:16:55","slug":"decarbonizing-while-remaining-competitive","status":"publish","type":"noticias","link":"https:\/\/www.fundacionbankinter.org\/en\/news\/decarbonizing-while-remaining-competitive\/","title":{"rendered":"Decarbonizing while remaining competitive"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">How can the private sector contribute to net emissions? What <strong>types of business innovation <\/strong>lead to decarbonization without losing competitiveness? And more importantly, what is competitiveness or what does it measure? Is there really a choice between competitiveness and decarbonization?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Business and industry can adopt a wide range of measures to reduce their impact, from recycling as suggested by Cristina Rivero in <a href=\"https:\/\/www.fundacionbankinter.org\/en\/ftf-informes\/building-a-netzero-world\/?_adin=11551547647#report-section-00\">Building a Net Zero world<\/a>, to buying clean energy What can be done to make them mainstream?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The role of business in net emissions<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Companies play an essential role in the transition to a low-carbon economy<\/strong>, as they account for a significant part of both direct and indirect GHG emissions, as shown in the National Greenhouse Gas (GHG) Inventory.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although it focuses on energy generation (75.4%), agriculture (12%) and industry (8.3%), all of this must also be attributed to the companies that consume it. When any company uses energy, buys materials or opens a new site, they have some impact on emissions, water or biodiversity.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Types of business innovation for decarbonization<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Business innovation is a key tool to drive decarbonization without compromising competitiveness. These are the usual types of business innovation for CO\u2082 reduction:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.fundacionbankinter.org\/en\/noticias\/technological-innovation-future-combination-digital-biological-physical\/?_adin=11551547647\">Technological innovation<\/a>. Creating or improving products, services or processes that use cleaner and more efficient technologies, such as renewable energies, energy storage, electric mobility or the capture and use of CO\u2082.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.fundacionbankinter.org\/noticias\/10-tipos-de-innovacion-ii-innovacion-organizativa\/\">Organizational innovation<\/a>. Introducing or modifying practices, structures or systems that optimize the use of resources and minimize environmental impacts, such as waste management, circular economy or corporate social responsibility.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.fundacionbankinter.org\/noticias\/la-innovacion-social-mas-importante-que-nunca-iniciativas-que-buscan-una-realidad-mas-solidaria\/\">Social innovation<\/a> Developing or adapting solutions that respond to the needs and expectations of stakeholders and generate shared value, such as citizen participation, environmental education or social inclusion.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">However, in this analysis, it is essential to take a step back and understand what competitiveness is. Can a polluting company be competitive? Obviously, it should not.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"886\" height=\"570\" src=\"https:\/\/www.fundacionbankinter.org\/wp-content\/uploads\/2024\/04\/12.png\" alt=\"Types of business innovation for decarbonization\" class=\"wp-image-23221\" srcset=\"https:\/\/www.fundacionbankinter.org\/wp-content\/uploads\/2024\/04\/12.png 886w, https:\/\/www.fundacionbankinter.org\/wp-content\/uploads\/2024\/04\/12-300x193.png 300w, https:\/\/www.fundacionbankinter.org\/wp-content\/uploads\/2024\/04\/12-768x494.png 768w\" sizes=\"auto, (max-width: 886px) 100vw, 886px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Competitiveness must include environmental impact<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">One current problem with competitiveness is that it is <strong>only measured in euros<\/strong>, missing key dimensions such as land use, biodiversity loss, carbon emissions, water use and several dozen lesser-known ones, including social sustainability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Something similar occurs with<a href=\"https:\/\/www.fundacionbankinter.org\/noticias\/como-influye-la-innovacion-en-la-calidad-de-vida\/\"> <\/a><a href=\"https:\/\/www.fundacionbankinter.org\/noticias\/como-influye-la-innovacion-en-la-calidad-de-vida\/\">global indices such as the HDI<\/a>. There is a positive relationship between emissions and the Human Development Index because the latter does not include emissions as something negative, and for this reason the United Nations Development Programme (UNDP) <a href=\"https:\/\/news.un.org\/es\/story\/2020\/12\/1485612\">is looking for alternatives<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In other words, a <strong>company cannot be defined as competitive if it generates externalities<\/strong>. Historically, a company that discharged CO\u2082 into the atmosphere could be competitive against another because those emissions did not count in the competition. What is the solution?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Some types of business innovation resulting from internalizing externalities<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">To recycle, buy green energy or look for ethical suppliers, companies need to internalize their costs and scopes within the selling price of their products and services, given that <strong>the end customer tends to opt for the most competitive <\/strong>and this should be the one that is the cleanest. This has happened before:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Today&#8217;s combustion engines are much cleaner than those of past decades, due to <strong>EURO standards<\/strong>. Since it costs money to pollute, customers are increasingly opting for cleaner cars.<\/li>\n\n\n\n<li><strong>Regulating appliances <\/strong>on a color scale helped customers opt for the most efficient brands because they saved buyers the most money. This boosted innovation.<\/li>\n\n\n\n<li>Increasing the cost of CO\u2082 while giving green premiums to research. That&#8217;s how solar panels reduced their cost, from $100 a watt in 1975 to $0.27 in 2021. And falling.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If decarbonizing the economy is a 21<sup>st<\/sup> century imperative, including externalities and impact within the concept of competitiveness is a prerequisite for achieving this milestone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Different types of business innovation emerge as the right conditions come to be<\/strong>, at which point that innovation becomes a wave of disruption.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is necessary to support conditions that help to innovate in decarbonizing, so that we do not have to choose between decarbonizing and being competitive, because both are exactly the same.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Firms innovate in the face of external competition, which needs to internalize externalities to decarbonize the economy<\/p>\n","protected":false},"featured_media":23224,"template":"","meta":{"_acf_changed":false,"_oaas_summary":"","_oaas_audio_url":""},"categories":[204],"class_list":["post-23219","noticias","type-noticias","status-publish","has-post-thumbnail","hentry","category-science-and-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - 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