Last Year Was Dominated by almost Universal Economic Difficulties.
At the same time, the world is rapidly approaching clearly defined deadlines with regard to the net-zero emissions target, which will require record levels of short- and long-term investment in climate technologies. Sustainable innovation has therefore become a central element of government policies worldwide.
This report, our fifth annual edition of the International Innovation Barometer, presents an inflection point where innovation permanently aligns with sustainable development. It builds upon our analysis of international R&D conducted over the previous four editions. We surveyed 1,053 R&D and innovation directors, CFOs, and CEOs in 17 countries across Europe, North America, and Asia.
Key Figures from the Barometer:
- Innovation is fundamental for businesses: 99% of surveyed companies innovate, 97% have a defined budget for innovation, and 89% have dedicated innovation teams.
- 55% of companies dedicate between 6% and 10% of their turnover to innovation, with the average company dedicating a significant 6.4%.
- Only 23% of respondents identified sustainable development as one of their organization’s top three priorities.
- However, 78% of companies allocated up to 20% of their annual budget to sustainable development, and nearly a third allocated between 11% and 20%.
- 33% believe that insufficient tax incentives for R&D and a lack of public support are obstacles to progress.
