Innovation is crucially important for industrial competitiveness and growth. Dow has strongly supported the ‘Innovation Principle’ since its inception in 2013.
The ‘Innovation Principle’ simply says that all new legislation/regulation should be tested for impact on innovation along with other public policy objectives.
We believe that the Innovation Principle should stand alongside the Precautionary Principle1 in enabling industrial competitiveness and innovation along with high standards of environmental and public health protection.
Innovation should be supported by strengthened collaboration between industry, academia and policy makers; improved IT and other research and development infrastructure; high standards of education at all levels with particular focus on science, technology, engineering and mathematics (STEM); and adequate availability of research, development, and early stage commercialization funding.
As Dow we will continue to assemble appropriate partnerships, and to seek research, development and early stage commercialization funding, wherever it is productive to do so.
1The Precautionary Principle is expressed in various forms but essentially says that lack of conclusive scientific evidence should not prevent regulatory action where there may be a risk.