SUSTAINABLE INDUSTRY
Initially, sustainable business practices were largely ignored by most companies operating in industrial parks; however, governments and the private sector have recently begun to support a more modern and sustainable investment regime for industrial zones.
For this reason, the concept of Eco-Industrial Parks (EIPs) is increasingly recognised as an effective tool to overcome the challenges related to inclusive and sustainable industrial development within the scope of the Sustainable Development Goals (SDGs).
An Eco-Industrial Park (EIP) can be defined as a community of manufacturing and service enterprises located together on common property. Member companies seek to improve environmental, economic and social performance through collaboration on environmental and resource management issues.
BENEFITS OF ECO-INDUSTRIAL PARKS
Initially, sustainable business practices were largely ignored by most companies operating in industrial parks; however, governments and the private sector have recently begun to support a more modern and sustainable investment regime for industrial zones.
For this reason, the Eco-Industrial Park (EIP) concept is increasingly recognised as an effective tool to overcome the challenges related to inclusive and sustainable industrial development within the scope of the Sustainable Development Goals (SDGs).
An Eco-Industrial Park (EIP) can be defined as a community of manufacturing and service enterprises located together on common property. Member companies seek to improve environmental, economic and social performance through collaboration on environmental and resource management issues.
Economic benefits
- Creation of direct and indirect employment.
- Waste disposal cost savings.
- Reduction of resource and energy consumption.
- Reduced operating costs and improved productivity.
- Increased competitiveness.
- Increased foreign investment.
- Reducing business risks by recognising that environmental and social risks are economic risks.
Environmental benefits
- Reduction of pollution levels.
- More efficient use of resources (raw materials, water, energy).
- Preservation and protection of biodiversity and nature.
- Reduction, reuse and recycling of waste.
- Better management of chemicals and hazardous substances.
- Improved security of supply, resource management and efficiency.
- Climate change mitigation.
Social benefits
- Creation of local jobs.
- Better working conditions.
- Welfare of the local community.
- Promotion of gender equity through jobs and infrastructure for women.
- Crime prevention and increased security.
- Creation of social infrastructure.
- Construction of community service centres.
- Skills development and technology transfer.
- Address issues relevant to the local community and secure a long-term licence to operate.
Taken from: Global Eco-industrial Parks Programme
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