By Mr Jacob Ting
THE GREEN PATENT REVOLUTION
The World Intellectual Property Organization (WIPO) has chosen “Intellectual Property and the SDGs: Building a Shared Future Through Innovation and Creativity” as the theme for World Intellectual Property Day 2024. This theme explores how Intellectual Property (IP) can stimulate and amplify the innovative solutions essential for crafting a better future for everyone.
The United Nations’ Sustainable Development Goals (SDGs) cover a broad spectrum of issues, ranging from poverty eradication and hunger alleviation to ensuring access to healthcare, education, clean water, and a healthy environment. These goals serve as a roadmap towards constructing a more sustainable and fairer world.
In today’s dynamic landscape, the importance of IP cannot be underestimated, particularly in the pursuit of the SDGs. IP would therefore act as a catalyst for innovation, safeguarding inventors’ rights while fostering a competitive atmosphere.
By granting exclusive rights to inventors and organizations over their creations, the IP system incentivizes them to develop technologies that contribute to the SDGs. In this context, IP rights play a pivotal role in advocating for innovation and sustainable practices. They accomplish this by establishing an environment that encourages inventors and creators to develop solutions aligned with the SDGs. Patents, utility models, and registered designs provide protection for inventions, thereby driving innovation in various fields related to the SDGs, including agriculture, renewable energy, and healthcare.
The security offered by exclusive rights empowers inventors to take risks, invest in research and development, and ultimately make significant contributions to global sustainable development.
Hence, it is clear that IP is a key player in the pursuit of sustainable development, paving the way for a greener and more innovative future. Among the 17 SDG initiatives established by the UN, this article will specifically focus on SDG 13: Climate Action.
The relentless march of global warming brings with it a cascade of dire consequences: soaring temperatures scorching the earth, ferocious storms wreaking havoc with increasing intensity, parched lands enduring relentless drought, seas relentlessly rising to engulf coastlines, precious animal and plant species disappearing into oblivion, and the looming spectre of food crises haunting our future.
SDG 13 underscores the significant role that the IP industry plays in advancing environmental sustainability, particularly in climate action. This sector actively promotes climate action by encouraging the development of green technologies and fostering environmentally friendly innovations. Here are some (of the many) ways, IP contributes to achieving SDG 13:
Fostering Collaborative Efforts: IP protections act as a powerful catalyst for cross-sector collaboration in the fight against climate change. They achieve this by ensuring fair recognition and reward for joint research efforts between various entities, such as universities, research institutions, private companies, and NGOs.
By fostering collaboration and incentivizing investment in joint research efforts, IP protections play a crucial role in accelerating the development of climate-friendly innovations. This collaborative approach is essential for finding effective solutions to the complex challenges posed by climate change, requiring the combined efforts of various expertise and resources across different sectors.
Enabling the Transfer of Technology: In practice, IP frameworks establish the legal framework necessary for negotiating and formalizing licensing agreements between technology holders in developed countries and recipients in developing nations. These agreements enable the transfer of rights to use, produce, and distribute innovative technologies that promote environmental sustainability, such as renewable energy systems, energy-efficient appliances, and waste management solutions.
By facilitating technology transfer, IP frameworks contribute to overcoming barriers to the adoption of clean energy solutions in developing countries, including limited access to technology, financial resources, and technical expertise. Through licensing agreements, developing countries can gain access to proven technologies that have been developed and patented by entities in developed nations, thereby accelerating their transition to cleaner and more sustainable energy sources.
Providing Incentives for Innovation: One of the IP rights, such as patents, serve as powerful incentives for driving innovation, particularly in the realm of clean technologies. By granting temporary exclusive rights to inventors and innovators, these rights create a conducive environment for fostering breakthroughs in renewable energy and solutions for reducing emissions.
Patents, as a form of IP protection, offer inventors the assurance that their innovations will be safeguarded from unauthorized use or replication for a limited period. This exclusivity provides a crucial incentive for inventors and organizations to invest time, resources, and expertise into researching and developing clean technologies aimed at addressing pressing environmental challenges.
Generating Economic Stimuli: The protection afforded by IP rights encourages entrepreneurs, start-ups, and established companies to invest in bringing climate-friendly technologies to market, knowing that they can recoup their investment and profit from their inventions. This, in turn, creates a dynamic market for renewable energy systems, energy-efficient appliances, sustainable building materials, and other climate-friendly products and services.
This in turn provides inventors and innovators with the legal framework to protect their creations and derive economic benefits from their innovations. By granting exclusive rights to use, produce, and distribute climate-friendly technologies, IP rights incentivize investment in research and development, as well as the commercialization of innovative solutions in efficient renewable energy.
The future of IP and its role in realising the SDGs hinges on collective action. Governments, international organizations, companies, and innovators all have a critical role to play, and their combined efforts are key to making a real difference. Moving forward, success lies not in individual actions, but in harnessing the power of collaboration to find innovative solutions that contribute to achieving our global goals.
● Mr Jacob Ting, School of Business, Faculty of Business, Design and Arts, Swinburne University of Technology Sarawak Campus
The views expressed here are those of the columnist and do not necessarily represent the views of New Sarawak Tribune.
