World IP Day | How Intellectual Property Rights Can Support the Transition to a Sustainable, Low-carbon Economy

Every year, April 26, is dedicated to and celebrated as World Intellectual Property Rights Day. It’s a global day and it is celebrated by member States of World Intellectual Property Organization with the twin aim of exploring the role that Intellectual Property (IP) rights play in encouraging innovation and creativity while ensuring that inventors and creators are fairly rewarded for their efforts in order to earn a living from it and to protect the goodwill that is vested in their brands.

The Business Assets and Intellectual Property Valuation Division of the Nigerian Institution of Estate Surveyors and Valuers wish to celebrate the day with other Partners, Innovators, IP owners, and users around the world.

According to the World Intellectual Property Organization, the impact of climate change is being felt across the globe. Almost daily, we hear about extreme climate-related events including storms, floods, drought, wildfires, and the devastation they cause; events that may already be related to climate change and which are expected to become even more frequent and intensive.

Tackling the global climate crisis is a daunting challenge. Each of us shares in the common goal to address it and to build a green future.

Technology is increasingly recognized as part of the solution. This further highlights the need to redouble efforts to establish robust national innovation systems and enable access to effective national intellectual property (IP) systems that support the development and deployment of the technologies, products, and services needed for the transition to a green future.

Transitioning to a low-carbon future is undoubtedly a complex and multi-faceted endeavor. But we have the collective wisdom, ingenuity, and creativity to come up with new, more effective ways to shape a green future and the IP system has a pivotal and enabling role in supporting us on this journey.

The theme of this year’s celebration as we are all aware is “Innovation for a Green Future”.

The focus is to take a critical look into how intellectual property rights can support the transition to a sustainable, low-carbon economy; innovation and creativity in creating enabling environment for a good living, when innovation is created; employments and jobs opportunities are also created, and these ultimately lead to increase the national development.

Since the effects of the climate are universal, we need to put all hands on deck in ensuring the eradication of objects that creates more depletion of the ozone layer. Let me quickly add that innovation gulp a lot of money and time, the serious danger to innovation is the societal unbelief that we can develop things that are better for our environment especially in Nigeria and Africa, it is time to put on our thinking cap to think through. Survival of every society depends on how they can make their environment work for them, as the government is securing the protection of rights, the economic side of innovation cannot be overemphasized, the identification of new innovations in various economic sectors should be well managed to bring good economic and sound health to our national life.

We implore the Federal Government to see innovation as a serious business that needs good attention, and policy backing. This would protect the various IP rights, it would boost the morale of inventors, entrepreneurs, and other professionals as well, this would definitely affect our Gross Domestic Product and income. Once again we congratulate all IP practitioners in all sectors.

Written By:

BA & IP Valuation, a division of the Nigerian Institution of Estate Surveyors and Valuers 

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