Inclusive and Sustainable Industrial development (ISID) is a programme initiated by the United Nations Industrial Development Organisation (UNIDO) which is a UN specialised agency that supports industrial development helping in poverty reduction, inclusive globalisation, and environmental sustainability. The Organization’s primary theme areas include poverty reduction via productive activities, trade capacity building, and energy and environment.
What is inclusive and sustainable industrial development?
ISID is the primary source of revenue production, allowing for quick and sustainable development in living standards for all people while also providing technical solutions to ecologically sound industrialisation. Environmental goals, such as greater resource and energy efficiency, are based on technological advancement. Without technology and innovation, industrialisation will not happen, and without industrialisation, development will not occur.
In this context, “inclusive” means that industrial development must include all countries and peoples, as well as the private sector, civil society organisations, multinational development institutions, and all parts of the UN system, and provide all stakeholders with equal opportunities and equitable distribution of the benefits of industrialisation. Sustainable development refers to the need to separate industrial prosperity from exploitation of natural resources resulting in severe environmental consequences.
Future poverty-reduction efforts must be financially enabled. This is the only method to produce the revenue required for people, households, and governments to pursue their own development goals and support their journey to self-sufficiency. Thus, the ultimate objective of our efforts to create sustainable development in all of its dimensions must be this.
Poverty eradication is an ethical, political, economic, and social imperative of society. Identifying insufficient growth in poverty reduction, decide to set up objectives to reduce the proportion of people living in extreme poverty.
Efforts to solve current social and environmental issues in a sustainable and long-term way have typically only been successful when accompanied by economic development.
The international community recognised that a new development paradigm was required to alleviate global poverty while drafting the 2030 Agenda for Sustainable Development. The resulting universal, transformative, and integrated plan builds on previous levels of engagement by applying new approaches to accelerate progress, reflecting the interconnectedness of today’s economies, industries, societies, and natural environment, and recognising the importance of inclusive and sustainable industrial development for poverty eradication.
Importance of ISID
It is not difficult to discover evidence that industrialisation is a successful poverty-reduction strategy: Whether we look at early industrialised countries, such as the United States or Japan, or subsequently, the Republic of Korea and China it was always industrial development and trade in industrial goods that shaped their successes.
Already, in the last 20 years, the percentage of industrial value-added generated in developing nations has nearly quadrupled, from 18% in 1992 to 35% in 2012. When economies shift from a firm reliance on agriculture and natural resource extraction to industries that encourage local value-addition and related services, the structural change has a significant influence on development. It releases dynamic and competitive economic forces that create jobs and wealth, eases international commerce, and makes better use of resources.
Since the mid-eighteenth-century industrial revolution, this pattern has repeated itself all over the world.
Future poverty-eradication initiatives must undoubtedly be “economically empowered.” This is the only way to increase the income needed to allow individuals, homes, and government bodies to pursue their own developmental goals, meet related social objectives, and support their journey to self-sufficiency – the ultimate goal and the only way to achieve sustainable development in all of its dimensions.
Concrete action will be determined by the difficulties, endowments, and levels of integration in the global economic system that each country faces. It’s no surprise that sound industrial policy making remains a top priority around the world, given what matters most to policymakers today: how to sustain growth, increase their country’s participation in international trade and globalisation, create long-term jobs that generate income, advance the overall wellbeing of their people and overall sustainable development.
For these reasons, there is a significant call for the economic dimension, particularly the role of industry and manufacturing, to be included in the global post-2015 development agenda.
Similarly, politicians and leaders from all political parties support inclusive and sustainable industrial development (ISID) as a strategy for producing higher-skilled employment, establishing more equal communities, increasing sustainable development and protecting the environment while maintaining economic growth. ISID will assist us in actively designing the next age of globalisation that is both inclusive and sustainable.
If we do not achieve the required economic development within an environmentally sustainable framework, any success on poverty eradication would be short-lived.
We can’t refute that one of industrialisation’s adverse effects is environmental deterioration. Unfortunately, no country has yet entirely tackled the challenges of waste management, water purification, and pollution.
Environmentally sound solutions in manufacturing industries, on the other hand, have been shown to be very successful in reducing environmental deterioration.
Today, we have the technological skills to produce industrial goods in a more environmentally friendly manner. To offer environmental goods and services, the “green industry” may be encouraged.
These industries are a long-term source of structural diversification, employment, revenue, and prosperity. Furthermore, adhering to sustainable manufacturing methods makes commercial sense since it lowers resource waste and boosts competitiveness.
They aim to eradicate poverty within the next generation.
UNIDO’s mission is to help its member nations achieve inclusive and sustainable industrial development (ISID). ISID means that:
• Every country’s economy achieves a higher level of industrial development and benefits from the globalisation of markets for industrial services and products;
• Nobody is left behind in gaining from industrial growth, and prosperity is shared equally among all people in all countries
• Social and economic growth is supported within an environmentally sustainable framework leading to sustainable development.
ISID is a necessity
Poor folks, opinion leaders, and stakeholders have sought a deeper integration of the economic dimension, as well as the role of industry and manufacturing, into global development goals for all of the reasons stated above. A new industrial revolution will be required for healthy growth and sustainable development of nations. Unlike previous revolutions, this one will be distinguished by teamwork, with the government, the private sector, and other institutions all working together to create the conditions for revolutionary change.
This new vision for UNIDO will harness the full potential of industry for sustainable development and enduring prosperity for everyone, and it will make a significant contribution to the realisation of this new industrial revolution. Our current task, as well as a once-in-a-generation opportunity, is to realise this potential and join our efforts for the greater good.