Innovations shaping a greener future: The role of industry in environmental change

The research presented in this paper aims to contribute to the ongoing discussion on the implementation of environmental innovations in the oil and gas production industry, as well as in the production of petroleum products and chemicals. In the modern context, it would be beneficial to consider implementing process and product innovations with the aim of reducing the amount of production waste and polluting emissions into the environment. Enterprises face a challenging objective: to simultaneously reduce their negative impact and increase their competitiveness. One possible avenue for achieving this is through the development and implementation of environmental innovations. The paper considers the main directions and effects of their implementation, with a view to offering constructive suggestions for further consideration. It has been found that oil and gas production is the main contributor to air pollution from stationary sources. It would seem that the most innovatively active enterprises in the field of environmental innovation implementation are those engaged in the production of chemicals and products.