Responsible Ownership Fostering Green Tech Innovation

Carbfix, an Icelandic green tech pioneer, has attracted worldwide attention for its novel solution to fight climate change by capturing and storing CO2 safely in basalt rock and eliminating it from the atmosphere. This study explores how responsible ownership can drive innovative solutions to deal with climate change and foster a sustainable future. An exploratory case study using archival data was applied, which provided evidence of relationship between responsible ownership and sustainable technology commercialization. The results show that an effective ownership strategy strengthens a focus on the SDGs on climate action. The results demonstrate as well how responsible ownership produces an innovative green tech solution throughout a long-time horizon to address CO2 reduction and commercialization. This study’s originality is that it delves into the business facets of a green pioneer by exploring the relationship between owners and green tech innovation. The theoretical contribution is on advancing the literature on responsible ownership in innovation and technology for the transition to a sustainable future. Using grounded theory methodology to analyze the empirical data, it is concluded that owners practicing responsible ownership can overcome many of the barriers to bringing innovative green tech solutions to market.