Violet Hill
06 Apr 2021

Recovery today, lead for 2030:

A future-fit industrial strategy for Europe

While many companies are still working on adopting to the Fourth Industrial Revolution of technological intelligence, we already now need to look beyond. The Industry 5.0 approach will build upon the previous 4IR, now merging tech with human capabilities – building economic, social and environmental resilience at the same time.

Instead of treating decarbonisation, the circular economy and digitalisation as separate objectives, this is our chance to show how systemic and digitally enabled resource efficiency can meet Europe’s socioeconomic needs while achieving climate targets, pollution and biodiversity loss.

We know that a huge challenge for any producing supply chain is the need for large-scale reductions in material consumption, given that more than 50% of global emissions are caused by the extraction and processing of materials. Fact is that global resource use has more than tripled since 1970, yet global material productivity has not improved in the last 20 years. For businesses, this is an opportunity to improve financial performance as well as contribute to a better future. By saving costs and build resilience to the increasing resource price volitivity and regulatory risks, it is also a competitive imperative and the path to new growth.

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