We at WEF believe that innovation is the only way to provide environmentally friendly products and services that will help us achieve “factor 10” improvements that are necessary to maintain the same quality of life in the new century. It has therefore instituted a special award called ‘Golden Peacock Eco-Innovation Award’. This award will be given to a product or service, which shows a quantum jump in the exploitation of current technology to achieve maximum customer satisfaction at minimum cost. While calling for more sustainable pattern of production and consumption, it motivates to carry on their pursuit of excellence. The Award is designed to encourage systemic innovation in organisation to make products and services required in the new century.