Green Industrial Policy – A tool to accelerate green transition

Installing solar panels in Ontario. (Source: Creative Commons/Flickr/Rob Campbell)
  • Implementing green industrial policy: policy makers can pro-actively steer economies towards sustainable growth accompanied by economic and social benefits
  • National plans and coordinated policies for green industrial policy play a key role in developed and developing countries

16 January 2017, Geneva, Switzerland – Global environmental degradation has led citizens and policy makers worldwide to rethink the current pathways of economic development. How to green economies so that growth, social equality and environmental conservation can be achieved in harmony, is one of the most pressing questions of our time. PAGE seeks to enable countries to move towards green economies, but shifting economies from their traditional development path of natural exploitation to a more sustainable model is a challenge.

A new approach to a global transition

Traditionally, industrial policies target higher productivity, competitiveness and economic growth. In the face of a multitude of pressing global challenges, including climate change, severe air pollution and extreme poverty, green industrial policies contribute to a productive, low-carbon, resource-efficient economy. A new publication on “Green Industrial Policy: Concepts, Policies, Country Experiences” widens the definition of industrial policy to comprise environmental and energy policies which deliberately push structural change into a desired, more sustainable direction. Policies to enhance the national benefits of the green transformation in terms of higher incomes and better employment opportunities also play a vital role.

Windfarm in South Africa (Source: Creative commons/Flickr/ Warren Rohner)
The new joint report