Sustainable change in green businesses is now more than ever led by innovation management practices that aim to align economic performance with environmental sustainability. In this paper, new approaches, tools, and organizational designs for managing innovation that leads to sustainable change are discussed. Empirical findings and case examples from Europe and Asia, the research identifies key success factors such as green R&D investment, eco-innovation ecosystems, circular economy integration, and leadership models conducive to sustainable results. The discussion shows how proactive innovation management generates long-term resilience, stakeholder value creation, and competitive advantage for sustainability-driven companies. The study contributes to the evolving field of sustainable business transformation by proposing a strategic innovation governance model for sustainable businesses.