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UNIDO - HLPF 2021 Side Event: “Inclusive and Sustainable Industrial Recovery through Digital Transformation and the Circular Economy”
Post-COVID-19 economies have been provided with an opportunity to rethink their industrial models by leveraging recovery to support the twin (digital and circular) transition to a climate-neutral and digital economy. Harnessing new technologies and restructuring business models can help developed and developing countries alike in achieving huge gains with respect to decoupling economic growth from resource consumption. A more efficient circular economic model needs to replace the current linear economic models, which are unsustainable, highly wasteful, and polluting, by enhancing the symbiotic relationship between sustainable consumption and production patterns and inclusive and sustainable industrial development (ISID). Digital transformation, advanced manufacturing technologies, and circular economy models will be essential to return the global community to the pathway towards achieving the Sustainable Development Goals (SDGs) in the remainder of this decade. Within this context, the event discusses what collective efforts are needed to harness the digital transformation and a circular economy approach within industry worldwide, the measures that can be taken to ensure a reduction of the digital and gender divides, particularly in developing countries, and the role and impact of policy and financial instruments and public-private partnerships as part to the process.
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