DOCSLIB.ORG

Investing to Achieve Industry, Innovation, and Infrastructure

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investing to Achieve Industry, Innovation, and Infrastructure Cornerstone UN SDG Series: Industry, Innovation and Infrastructure Investing to Align with SDG 9: Industry, Innovation and Infrastructure Investment in infrastructure and innovation are crucial drivers of economic growth and development, and are key to finding lasting solutions to both economic and environmental challenges. Promoting sustainable industries and investing in scientific research and innovation are all important ways to facilitate sustainable development. More than 4 billion people still do not have access to the Internet, and 90% are from the developing world. Bridging this digital divide is crucial to ensuring equal access to information and knowledge, as well as fostering innovation and entrepreneurship.1 SDG 9 is further refined by targets that can be more easily translated into actions. These targets highlight the interconnected nature of the goals. For example, strategies to support inclusive industrialization and innovation also promote progress toward SDG 5 (Gender Equality) and SDG 8 (Decent Work & Economic Growth). Below are a series of synergies What are the UN SDGs? that can come from providing access to products, services and systems that work to drive The UN Sustainable Development Goals Industry, Innovation and Infrastructure. (SDGs) are a collection of 17 global goals set by the UN General Assembly in 2015. Fair Treatment and Equal Opportunity The SDGs are a shared blueprint for peace and prosperity for people and the planet, Recent research points to a strong connection between openness to different cultures now and into the future. The SDGs are and ideas, and the ability of a place to adapt to economic changes and grow.2,3 Currently, part of Resolution 70/1 of the UNGA titled however, not all are equally able to innovate. Women have more difficulty acquiring external “Transforming our World: the 2030 Agenda for Sustainable Development,” now referred business financing than men, and only received 2% of all venture capital in the US in 2017.4,5 to as the “2030 Agenda”. Disparities in financing opportunities also extend into microfinance, where evidence has 6 emerged of discrimination against disabled micro-entrepreneurs. Fostering inclusive growth What are the UN SDGs designed to do? depends on removing these biases and connecting all with opportunities to contribute to innovation. The SDGs are designed to address the global challenges we face, including those related to poverty, inequality, climate, environmental Financial Services degradation, prosperity, sustainability, and peace and justice. They represent a call to action for governments, civil society, Sophisticated financial services will provide smooth cash flows and enable individuals and international organizations, and the private businesses to accumulate assets while making productive investments. Small businesses re- sector to align their activities with the social, quire financing to grow, and currently there is a lack of financial institutions that can support environmental and economic changes needed 7 small to medium-sized enterprises through traditional loans or a line of credit. As additional to ensure the continued viability of our planet financing for SMEs is more available, national productivity and social welfare can be improved and the dignity of societies and individuals. as there is additional access to employment and resources. Technology can be used not only to facilitate payment transfers but also to access banking services remotely, making financial services available imore broadly.8 Telecommunication Systems In the last decade the number of people that are connected to the internet has tripled. This Investing to achieve still leaves 60% of people lacking internet access globally. Mobile and wireless coverage are more available than household internet access, and the cost of data prohibits access industry, innovation, for many.9 Communication technologies play a role in almost all industries including and infrastructure health, education, agriculture, finance, transportation, energy, and commerce. With the advancements in infrastructure and innovation in technologies, telecommunication services will be available at a lower cost and higher speeds.10 Affordable, Sustainable and Modern Energy Access to affordable, sustainable modern energy encompasses the ability to improve living conditions through lighting, education, and fresh water. Available forms of energy in many places are not only time-consuming to gather and inefficient, but also unhealthy and About the unsafe. A lack of developed infrastructure globally shows that approximately 20% of people Cornerstone SDG live without electricity, and 50% of all households and 90% of rural households use solid fuels for cooking and heating. These include unprocessed biomass, coal, or charcoal.11 The Series danger from indoor use of these materials lies in the chemicals produced when burning in confined areas; solid fuels in households accounted for 2.2 million deaths in 2005.12 Access to electricity and biomass cookstoves can boost economic development and reduce poverty and hunger, improving conditions for the poorest segments of society. Improvements lead to greater outputs in agriculture, commerce, and industry with greater more efficient By providing a brief overview of each of 13 production. the UN SDGs, Cornerstone Capital Group seeks to help investors understand how Clean Water including Sanitation and Hygiene incorporating SDG alignment into their investment decisions can contribute to Worldwide, three out of four jobs are water dependent. Investment in water infrastructure progress. Because the SDGs were not not only promotes health initiatives and job creation in developing areas but also stimulates created specifically with investors in mind, advancement toward green economies.14 In agrarian communities where agriculture supports Cornerstone effectively “translates” them into investment opportunities by focusing not only the economy but also acts as the main food source, access is critical to sustainable on the concept of access: the ability of growth. Infrastructure that supports maintenance, reduction, reduction, recycling, and reuse individuals and societies to achieve desired 15 of water must be put in place, updated and supported. Sound water management involves social, economic and environmental supply, infrastructure, and wastewater treatment. outcomes. We believe that investing in products, services and systems that increase access is key to driving progress toward the Clean Air SDGs. With the modernization of societies globally, infrastructure and industry need to be de- At Cornerstone, we believe that invest- signed in a way that reduces contributions to climate change. Since the industrial revolution, ments can achieve competitive financial there has been an unsustainable rapid increase in carbon dioxide emissions causing global performance and positive societal impact – warming.16 Industries need to focus on reducing waste and becoming more sustainable with performance that sacrifices nothing, except environmentally practical process and technologies.17 Investment into energy efficiency and indifference. an increase in investment in low-carbon initiatives through innovation across industries will support clean air practices.18 In addition to providing clear health benefits, clean air has also cornerstonecapinc.com been linked to broader economic benefits as it results in more productive workforces and healthier populations who save on avoided medical expenses.19 Safe, Affordable and Sustainable Transportation Transportation and infrastructure development support economic growth through industries. Additional infrastructure makes the transportation of goods easier, faster and less expensive. Advanced transportation infrastructure supports complex supply chains globally, nationally and regionally with the movement of goods and people. Establishing trade routes and partners across these categories links economic functions in the distribution of goods from producer to consumer. Progress in developing advanced infrastructure supports economic growth as more jobs are accessible to those who would otherwise not have access.20 (1) https://www.undp.org/content/undp/en/home/sustainable-development-goals/goal-9-industry-innovation-and-infrastructure.html (2) https://www.citylab.com/life/2011/12/diversity-leads-to-economic-growth/687/ (3) https:// images.forbes.com/forbesinsights/StudyPDFs/Innovation_Through_Diversity.pdf (4) http://fortune.com/2018/01/31/female-founders-venture-capital-2017/ (5) International Finance Corporate (2013f) ‘International Finance Corporation Enterprise Finance Gap Database’. (6) Discrimination by Microcredit Officers: Theory and Evidence on Disability in Uganda https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1722122 (7) https://wedocs.unep.org/bitstream/ handle/20.500.11822/21431/WorldBank_SDGAtlas_09_industry_innovation_infrastructure.pdf?sequence=1&isAllowed=y. (8) https://stats.unctad.org/Dgff2016/prosperity/goal9/target_9_3.html (9) https://www.2030vision.com/global- goals/industry-innovation-and-infrastructure (10) https://www.itu.int/en/ITU-D/Conferences/WTDC/WTDC17/Documents/declaration/ba_declaration_e.pdf (11) https://www.who.int/quantifying_ehimpacts/publications/9241591358/en/ (12) http://www.iiasa.ac.at/web/home/research/researchPrograms/Energy/IIASA-GEF-UNIDO_Access-to-Modern-Energy_2013-05-27.pdf (13) https://sustainabledevelopment.un.org/content/documents/17462PB1.pdf. (14) http://www.unesco.org/new/en/natural-sciences/environment/water/wwap/wwdr/2016-water-and-jobs/
Load more

Recommended publications
  • For Sustainable Innovation Economies Communities
    INNOVATION FOR SUSTAINABLE ECONOMIES COMMUNITIES PROGRAM WELCOME TABLE OF CONTENTS TO AASHE 2014 IN PORTLAND, OREGON! 2 Host Committee Members/ AASHE Members Portland is a great host city, with a Climate Action Plan and remember the buzz that lead to the creation of in place to reduce 2009 levels of carbon emissions by AASHE. All of us owe a huge thank you to those original 4 Welcome from our Host Campus sponsors 80% by 2050. You will see Portland’s commitments organizers, particularly Tony Cortese, Steve Kolmes , 7 AASHE Host Campus Sponsors to sustainability at every turn which is one of the main and Judy Walton. A little over a year later AASHE was founded. reasons this year’s conference theme is Innovation for 9 2015 Sponsors Sustainable Economies and Communities. Whether you’ve attended every AASHE conference or this 10 Welcome to Portland, Oregon This year’s conference has an outstanding program is your first we welcome your feedback. Please let the of speakers and workshops, an exhibit hall filled with AASHE staff and board know how next year’s meeting can 11 Portland Facts & Trivia business partners and organizations with representatives be even better. In addition, the AASHE Listening Project interested in talking with you, and other participants initiated last year will continue at this conference. The 12 Sustainability at Oregon Convention Center ready to network. You will discover that there is a goal is to gauge how AASHE is meeting member needs 14 Food & Beverage at AASHE 2014 unique mix of faculty, administrators, sustainability and how we can improve.
    [Show full text]
  • SC2019 Action and Resources Guide
    SuStainable Cleveland 2019 Action and Resources Guide BuildinG An eConomiC enGine to empoweR A green City on A Blue lAke table of ContentS i SC2019 Action and ReSourceS Guide Table of Contents Table of Contents i Contributors iii Executive Summary vii SECTION 1 : AliGnment & ACtion Guide 1.0 context 2 1.1 Introduction 3 1.2 Sustainable Economy Context 10 1.3 Economic Model 17 1.4 Cluster Overview 21 2.0 strateGiC framewoRk 30 2.1 Strategic Framework 31 2.2 Personal & Social Environment 35 2.3 Natural Environment 43 2.4 Built Environment 51 2.5 Business Environment 58 3.0 action plAn : CelebratinG pRogress 66 3.1 Action Plan : Celebrating Progress 67 Energy Efficiency 70 Local Foods 75 Renewable Resources 77 Waste 81 Water 84 Green Space 87 Transportation 90 Vital Neighborhoods 94 table of ContentS ii SC2019 Action and ReSourceS Guide Table of Contents SECTION 2: BACkground And Resource Guide 96 4.0 biG piCtuRe : eConomy 97 4.1 Clustering 98 4.2 Local Economy 123 5.3 Climate Prosperity 133 5.0 implementAtion 143 5.1 Implementation Overview 144 5.2 Stewardship Structures 145 5.3 Initiative Design & Evaluation 149 5.4 Measuring Progress 160 5.5 Communication: Branding 167 APPENDICes Appendix A: Bibliography 182 Appendix B: Metrics Starter-Kit 188 Appendix C: Sustainability Assets 202 Appendix D: Outreach 206 Appendix E: Brand Background 210 Appendix F: Example “Postcard” Initiatives 214 Appendix G: City of Cleveland Initiatives 224 ContRibutors iii SC2019 Action and ReSourceS Guide sC2019 AdvisoRy CounCil Harriet Applegate BAiJu Shah A F
    [Show full text]
  • An Overview of the Forest Service's New Wood Utilization Center ______Secretary Glickman Expressed Theodore L
    An Overview of the Forest Service's New Wood Utilization Center ___________________________________________________________________________ Secretary Glickman expressed Theodore L. Laufenberg his support for efforts to improve Charles G. Shaw III Southeast Alaska's economy in a press USDA--Forest Service release dated January 17, 1999 from the Pacific Northwest Research Station United States Department of Agriculture. _____________________________________ He said, "Federal agency cooperation will unify and enhance the opportunities for economic assistance to workers, families, businesses, and communities affected by the changing timber industry in southeastern Alaska." He went on to discuss the establishment by the Forest Service of the Wood Utilization Center in Sitka. In the Fiscal Year (FY) 1999 budget appropriation for Interior and related agencies, the USDA Forest Service (FS) was directed to establish and commence operating a harvesting and wood utilization laboratory in Sitka, Alaska with no less than five, full-time employees. Even though the enabling legislation was in an appropriations bill, no funds were provided to support the program. The Forest Service is implementing the mandate in FY 1999 with FY 1998 carry-over funds, but does not have funding for the laboratory specifically identified in the FY 2000 Budget being considered by Congress. Ted Laufenberg was detailed to Sitka for one year as acting team leader for the Wood Utilization Center (WUC). Over the past 19 years as a research engineer, project leader, and, most recently, program manager at the Forest Products Laboratory (FPL) in Madison, Wisconsin, Ted has worked with a wide array of wood products; collaborated with a host of academic, government, and commercial interests; and advanced numerous science-policy initiatives on topics such as free trade, recycling, and environmentally-preferable purchasing.
    [Show full text]
  • The Application of Biotechnology to Industrial Sustainability – a Primer
    THE APPLICATION OF BIOTECHNOLOGY TO INDUSTRIAL SUSTAINABILITY – A PRIMER ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT 2 FOREWORD This short paper is based on the OECD publication, “The Application of Biotechnology to Industrial Sustainability”. The Task Force on Biotechnology for Sustainable Industrial Development of the OECD’s Working Party on Biotechnology contributed to this primer which was prepared by the Chairman of the Task Force, Dr. John Jaworski, Industry Canada, Canada. Special thanks are due to Dr. Mike Griffiths (OECD Consultant) as well as to those who contributed to the case studies set out in the publication on which the primer is based. 3 TABLE OF CONTENTS FOREWORD.................................................................................................................................................. 3 TABLE OF CONTENTS ............................................................................................................................... 4 EXECUTIVE SUMMARY ............................................................................................................................ 5 Introduction................................................................................................................................................. 6 What is Industrial Sustainability? ............................................................................................................... 6 Moving Toward More Sustainable Industries............................................................................................
    [Show full text]
  • Proceeding of International Conference on Biodiversity for Sustainable Industries
    Proceeding of International Conference on Biodiversity for Sustainable Industries VOL.1/JUNE/2017 ISBN:978-602-61830-0-2 presented by: P R O C E E D I N G ISBN: 978-602-61830-0-2 ICBSI June 2017 ISOLATION AND IDENTIFICATION OF YEAST INVOLVED IN COCOA FERMENTATION TO BE USED AS A STARTER TO IMPROVE COCOA BEAN QUALITY Yusya’ Abubakar*, Heru P. Widayat, Martunis, Murna Muzaifa, Rizka Try Gustina Department of Agricultural Product Technology, Faculty of Agriculture, Syiah Kuala University, Jl. Tgk. H. Krueng Kalee 3, Banda Aceh, Aceh. Indonesia *Email: [email protected] ABSTRACT - Indonesia has been known as the third largest cocoa (Theobroma cacao L.) producer in the world. However, most of Indonesian cocoa is considered as low in quality due to unfermented bean. Bean fermentation has been introduced to smallholder farmers in Aceh, but the quality of bean produced is not consistent. Among factors determining a succesfull fermentation is involvment of major microorganisms, including yeast which is grown naturally around cocoa beans in the first 24 hours of fermentation. Therefore, this study is aimed to isolate and identify the type of yeasts involved in the cocoa fermentation process. Then, the yeast is being used as starter in cocoa fermentation to improve the bean quality. Improving cocoa quality is very important to improve farmer competitiveness, which in turn will enhance cocoa production sustainability. Samples of microorganisms taken from the best cocoa mass fermentation were isolated to obtain pure yeast culture. The culture was identified conventionally by observing (testing) its morphological and biochemical properties. The results showed that the six isolates predominantly grown fall into four different yeasts genus.
    [Show full text]
  • Strategic Industry Clusters 2010 Report
    Coordinating Workforce and Economic Development around Strategic Industry Clusters A Progress Report on Substitute House Bill 1323 December 15, 2010 Eleni Papadakis, Executive Director, Workforce Board Egils Milbergs, Executive Director, Washington Economic Development Commission Charles Earl, Executive Director, State Board for Community and Technical Colleges Rogers Weed, Director, Department of Commerce Paul Trause, Commissioner, Employment Security Department ACKNOWLEDGEMENTS Workforce Training & Education Coordinating Board Bryan Wilson, Deputy Director Joyce Ahlering, Policy Analyst/Legislative Liaison Washington Economic Development Commission Egils Milbergs, Executive Director Noreen Hoban, Assistant to the Executive Director State Board for Community and Technical Colleges Tina Bloomer, Policy Associate, Workforce Development Pat Ward, Program Administrator, Workforce Education Washington State Department of Commerce Daniel Malarkey, Deputy Director Spencer Cohen, Research Manager SHB 1323 Progress Report 1 TABLE OF CONTENTS I. Executive Summary.………………………………………………………......…4 II. Identifying industry clusters.……………………………………………………5 A. What are Washington’s current clusters? i. Industry clusters: A state and local analysis B. Washington Economic Development Commission focuses on the clusters of tomorrow i. Washington’s 12 Innovation Clusters III. State agency services and funding for industry clusters…………..............12 A. Workforce Training and Education Coordinating Board...………………12 i. Industry Skill Panel Grants ii. High Skills, High Wages Strategic Fund Grants iii. Mid-Level High Demand Programs B. Higher Education…………………………………………………………....16 i. Baccalaureate-Level High Demand Programs ii. Strategically Targeted Academic Research Teams/Innovation Research Teams C. Department of Commerce…………………………………………….........20 i. Innovation Partnership Zones ii. Community Economic Revitalization Board iii. Public Works Trust Fund iv. Associate Development Organizations v. Aerospace Council vi. Clean Energy Leadership Council vii. Global Health D.
    [Show full text]
  • Section 12 of Newberg Inventory of Natural and Cultural Resources
    Economic Opportunities Analysis Section 12 of Newberg Inventory of Natural and Cultural Resources Originally Adopted by Newberg City Council January 3, 2006 (Ordinance No. 2006-2635) Revised May 20, 2013 (Ordinance No. 2013-2761) City of Newberg Economic Opportunities Analysis Table of Contents Table of Tables ............................................................................................................................... 2 Table of Figures .............................................................................................................................. 3 I. Introduction ............................................................................................................................. 4 II. Economic Trends Analysis ..................................................................................................... 6 National, State and Regional Trends .......................................................................................... 6 Regional Economic Development Industry Clusters and Targeted Industries ......................... 12 Yamhill County Agri-Business ................................................................................................. 13 Regional Industrial Land Availability ...................................................................................... 16 Newberg Population Profile ...................................................................................................... 17 Historic and Future Growth Trends .....................................................................................
    [Show full text]
  • Resource Indicators for Sustainable Industries and Sustainable Industrial Development (RISI)
    Resource Indicators for Sustainable Industries and Sustainable Industrial Development (RISI) Project Duration Nov 2011 - Jan 2012 Fostering sustainable industries and industrial development requires the use of effective indicators. Though a multitude of indicators exist, their applicability to sustainable industries remains largely unaddressed to date. In this project, Ecologic Institute reviewed scientific knowledge in order to evaluate existing indicators and derive recommendations concerning their usability and potential need for further indicator development. Ecologic Institute published a shorter version of the project results as a policy brief. The policy brief is available for download. Increasing resource efficiency is one of the core themes of sustainable development, aiming to facilitate the improvement of socio-economic well-being while reducing resource use and its associated environmental impacts. Though in this context sustainable industries and sustainable industrial development must play a crucial role globally, both in alleviating poverty and in achieving development without adverse environmental impacts, they are still only marginally addressed. This is reflected in the discussions towards supplementing and integrating the United Nations Millennium Development Goals (MDGs) with Sustainable Development Goals (SDGs), to be defined and agreed on in the course of the Rio+20 process. Both MDGs and SDGs appear to lack specific targets for industries and industrial development. While the MDGs outline concrete, partly quantifiable objectives to drastically reduce extreme poverty by 2015, they do not provide guidance or indicators on improving resource efficiency and in particular do not address the industrial sector. Though the SDGs proposed by the Governments of Colombia and Guatemala [pdf, 455 kB, English] include resources relevant to industries and industrial development (in particular water and energy), they make no reference to industries or industrial development.
    [Show full text]
  • Integrating Green Jobs in the United Nations Joint Programmes
    Integrating Green Jobs in the United Nations Joint Programmes. A Guidance Note Promoting Green Jobs is central to achieving The concept of Green Jobs promotes MDG1 on poverty reduction and MDG7 on opportunities for job creation and a socially fair environmental sustainability. Climate change and transition towards a Greener Economy in which the excessive use of scarce resources combined vulnerabilities, changes in the labour market and with persistent poverty require proactive and new business models are addressed through timely policies to create pathways to sustainable inclusive social dialogue. It provides a means to development - with decent work for all. The much bridge social, economic, and environmental needed innovative strategies can only succeed priorities by offering an integrated development with the full engagement of enterprises and strategy that can help to promote both workers. environmental and social sustainability. Objective and Outline of the Guidance Note The purpose of this document is to provide guidance to The third section breaks down a range of strategies by UN Country teams on how to integrate Green Jobs at sector and provides links to further information sources country level, including joint programmes and the UN which can serve as tools to adapt Green Jobs priorities Development Assistance Framework (UNDAF) process. to specific country contexts. The sectors covered are: Green Jobs assessments should be the first step to . Energy inform and plan for a national strategy or joint UN . Agriculture programme. National and local-context-specific studies . Water should identify socio-economic opportunities, needs . Fisheries and impacts. Forestry . Waste Management The first section of the guidance note will define the .
    [Show full text]
  • The Experiences of New Zealand Floriculture Export Producers in the Changing International Market: What Can Be Done to Strengthen the Sector’S Capabilities?
    The Experiences of New Zealand Floriculture Export Producers in the Changing International Market: What Can Be Done to Strengthen the Sector’s Capabilities? Indra Ratnayake MPhil 2016 The Experiences of New Zealand Floriculture Export Producers in the Changing International Market: What can be done to Strengthen the Sector’s Capabilities? Indra Ratnayake A thesis submitted to Auckland University of Technology in fulfilment of the requirements for the degree of Master of Philosophy Faculty of Culture and Society 2016 i ii Abstract This research focused on the New Zealand floriculture industry, an important foreign exchange earner and employment provider that has silently contributed New Zealand’s national and regional economies over the past four decades. Internationally the global floriculture industry and market is growing, providing opportunities for many. At the same time, international industry dynamics are constantly changing, bringing in challenges for industry stakeholders worldwide. This has made it important to evaluate the New Zealand floriculture industry’s ability to face future challenges. In view of that importance, this research was designed to develop a knowledge base on New Zealand floriculture industry by investigating the floriculture producers’ industry and export experiences in the changing international environment. A mixed method approach was applied in this research to bring together evidence from multiple sources, including documents, industry reports, production and trade statistics, participant interviews, and author self-reflection. The analysis was designed to identify the important developments in the international settings that impacted the New Zealand export floriculture industry, and to draw lessons from the New Zealand grower experiences in the dynamic and changing international marketplace.
    [Show full text]
  • Horticulture, and Wood and Furniture Industries in Tanzania
    Final report Horticulture, and wood and furniture industries in Tanzania Performance, challenges and potential policy approaches Francesca Guadagno Samuel Wangwe Michele Delera André Bueno Rezende de Castro November 2019 When citing this paper, please use the title and the following reference number: F-40433-TZA-1 Horticulture, and wood and furniture industries in Tanzania: Performance, challenges and potential policy approaches Francesca Guadagno, Independent consultant Samuel Wangwe, REPOA Michele Delera, UNU-MERIT André Bueno Rezende de Castro, IGC Abstract This paper analyses two resource-based manufacturing industries in Tanzania: processing of horticultural goods and wood products and furniture. In several developing countries resource-based industrialization has worked as an engine of structural transformation. In Tanzania, these industries are still too small and inefficient. While industrial policy could help address the challenges that firms face in these industries, the country is currently lacking a concrete and detailed industrial strategy for these industries. In this regard, the cases of palm oil in Malaysia and wooden furniture in Vietnam teach important lessons. First, industrial targeting requires bundles of industrial policy instruments that reinforce each other. Second, science, technology, and innovation must be key priorities, even for industries that are not commonly considered “high-tech.” Keywords: resource-based industrialization; agro-processing; wood and furniture; structural transformation; industrial policy
    [Show full text]
  • Applying Circular Economy Principles to Sustainable Tourism Development
    Applying circular economy principles to sustainable tourism development Savina Nedyalkova Tourism expert, Bulgaria Abstract Tourism is not only an economic activity, as tourist destinations offer so much more than just products and services - it is the whole system of nature, cultures, and history that makes a destination different and competitive. Tourism is a means for local prosperity, and seen through the lenses of the sustainable development, it has to respect both local people and the traveller, cultural heritage and the environment (UNESCO, 2006). In order to reach the targets of the 2030 Agenda for Sustainable Development, and make a significant shift towards truly sustainable tourism, we should recover value in resources again. Creating a further value from existing products as long as possible and turning them into resources lies at the core of the so-called circular economy. This concept involves innovation throughout the value chain, rather than relying on solutions at the end of the life of the product (COM 2014/398). Such an innovative approach, which incorporates the principles of the circular economy - reuse, reduce, recycle - should be applied to tourism as well. It means “reuse” instead of build new, “reduce” costs at the critical points - environmental and financial, and “recycle” more effectively. An important component in the future transition of sustainable tourism is awareness rising. Educating not only businesses but also customers is crucial, because that is the weakest point in the value chain. Tourist consumption follows a certain pattern that should be changed by the means of marketing instruments, emphasizing on the values, not on the consumption itself.
    [Show full text]