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Sustainable Industrial Development
Sustainable industrial development means that Industry will have to adjust production structures and their product mix. Industrial policy should contribute to supporting such an adjustment process. This objective calls for an integrated approach to sustainable Industrial development encourage increased interrelationship between the environment and industrial policies and promote the role of business and industry for the achievement of sustainable Industrial development.
“Sustainable development is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
Building on the scientific rationale that the management of natural resources should be consistent with the preservation of its reproductive capacity. This concept has been broadened to incorporate economic, social, and environmental concerns.
The main challenges facing the world include:
- Optimizing the benefits obtained from expending resources.
- Assuring against enormous strains placed on the eco-system.
- The compelling growth of the world population.
- Remedying social and economic inequalities.
The attainment of Sustainable Industrial Development will call for action on the part of the people, governments, businesses, and organizations around the world.
The prime need for sustainable Industrial development is the conservation of natural resources.
For the conservation of natural resources, the Sustainable Industrial development policy should follow the following norms:
(i) Make all attempts not to undermine the natural regenerative capacity of renewable resources. And simultaneously avoid excessive pollution inhibiting the biospheric ability of waste assimilation and life support systems.
(ii) All technological changes and planning strategy processes, in regards to physically possible, must attempt to switch from non-renewable to sustainable uses.
(iii) Forge a phase-out policy for the use of non-renewable resources.
Thus, for worldwide sustainable growth, there is a need for efficient and effective management of available resources.
Although much progress has been achieved by the industry as regards the improvement of environmental performance, it is necessary to further encourage a more pro-active approach on the part of the business.
A sustainable industrial development strategy should aim to achieve the integration of environmental concerns and sustainable development in industrial policy. Sustainable Industrial Development is thereby promoting ecological protection, competitiveness, innovation, and employment. In the long term, sustainable industrial development can only be achieved through the integration of all three pillars of sustainable Industrial development – economic, environmental, and social.