In this episode of INSEAD Explains Sustainability on green technology, Anton Ovchinnikov, Visiting Professor of Decision Sciences, discusses why timing is of the essence. For one, companies can “learn by doing” to scale these technologies, as is evident in the development of electric vehicles and their batteries. It’s also about borrowing time as we develop more effective methods and technologies to reduce or capture greenhouse gases.

Sustainability concerns generations. Indeed, the Brundtland Report defines sustainability as “meeting the needs of the present without compromising the ability of future generations to meet their own needs”. Doing nothing is therefore risky, considering the environmental impacts and climate change we are already experiencing today.

Some of the most well-known green technologies include tech to harness solar and wind power. Then there's battery technologies to deal with the intermittency of renewable power supply. Green innovation can range from domestic solutions like heatsinks and air-conditioning technology to large-scale technologies such as carbon capture and storage. Whether companies are innately concerned about decarbonising their business operations or not, consumer and regulatory pressure might already be pushing them in this direction.

Organisations considering the adoption of green technology should consider factors such as cost, demand and incentives, as well as their interplay, which can be complex and unintuitive.

Green technology innovation and adoption is needed to mitigate long-term climate change impacts while maintaining our quality of life. At the same time, mitigation is no longer enough. We also need to invest in adaptation to climate change to be ready to build back after climate disasters. And the best time is now.