Explain the link between sustainable development and business innovation.

The link between sustainable development and business innovation is a strong one. By focusing on the principles of sustainability, businesses can identify opportunities for new products/services that are in line with current global issues such as climate change or resource scarcity.

Additionally, companies who utilize renewable materials/energy sources help reduce their environmental footprint – allowing them create more efficient solutions while minimizing associated costs as well . Furthermore , such initiatives also promote greater public relations increasingly conscious consumer base; leading increased customer loyalty overtime which helps drive revenues even further eventually .

Ultimately these efforts contribute generating innovative ideas benefiting both planet economy alike in long run – making it an essential factor consider when planning any business strategy going forward.