Economic Co-operation and Development and Eco-innovation

606 Words Feb 26th, 2018 2 Pages
This initiative also would help to develop an index to evaluate the level of eco innovation, which for instance the establishment of a web portal for SMEs of ASEM member countries by providing updated global environmental policies, practices which are relevant to SMEs. Moreover, the establishment of ASEIC itself, are initiated in improving the communication between both stakeholders in both continents. As a historical background, ASEIC has been initiated during the 2010 ASEM on Green Growth and SMEs which in conjunction of ASEM Summit 2008 and officially operated in June 2011. (ASEIC, 2011)

Based on Organisation for Economic Co-operation and Development (OECD) reports, eco-innovation is different from any other types of innovation because of the result which it mitigates from the environmental impact, whether the effect is intended or not. Furthermore, its scope may transcend the traditional structural limitations of the innovating organization, thus involving broader social arrangements that could spur socio-cultural and institutional changes and society in a bigger scope and contribute to the development of the nation itself. (Fernandez, 2011)

Apart from promoting a company’s corporate image and…