Beyond the Double Dividend: Public and Private Roles in the Supply of and Demand for Environmentally-Enhancing Technologies

Michael Porter and Claas van der Linde’s work reframed and brought to a larger audience the debate about the relationship between environmental protection and economic performance. This work resulted in what is often called the "Porter hypothesis" which states that environmental protection and competition are not incompatible and that properly designed environmental regulation can act as a trigger to innovation that will in turn make companies more competitive. This paper critically assesses the theory and evidence for this hypothesis, emphasizing our growing understanding of the conditions under which it holds from two perspectives. From the viewpoint of business, it reviews the conditions under which businesses choose to innovate for the environment. From the viewpoint of governments, it discusses the types of policy that stimulate innovative responses. While

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