The social impact of green innovation: towards a conceptual framework

Abstract

Amidst the environmental crisis, governments and communities increasingly expect businesses to follow a “green agenda” when undertaking innovation. This paper proposes that innovating firms, when following a green strategy, have the potential to generate a wider social impact, besides the usual positive business outcomes. The main arguments are developed under the multiple helices concept (derived from the original triple helix model of innovation), which proposes a collaborative approach between key institutions. The framework allows investigation of: (1) how various innovation-actors assist firms in undertaking green innovation and (2) to what extent does green innovation (via multiple helices) create a social impact? This paper will be valuable as the conceptualisation of social impact assists governments in supporting those business-initiated green innovation projects which maximise public good.