Innovation today is a stated public policy aim of most developed and emerging countries- The 'gold standard' for measuring innovation is the Global Innovation Index (GII). As growth rates start to plateau, policymakers are looking increasingly at their scientists to create future growth from knowledge. At the same time we also know that some kinds of growth contribute to environmental problems as well as to inequality. The GII primarily assesses countries on their economic innovation capabilities. It offers less space to recognise social or environmental forms of innovation; nor does it recognise local innovation or that which extends beyond how good a society is at making money.
This session will explore our understanding of innovation and in particular whether our methods of measurement accurately reflect the costs as well as the opportunities. Speakers will explore how countries are incentivising innovation in the expectation that this will power tomorrow’s economies. They will also discuss what these incentives and processes will do in relation to the present path to 2-degree Celsius warming, and a rate of species loss that is unprecedented since the last Mass Extinction.