The New Era of Industrial Strategies:Tackling Grand Challenges through Public-Private CollaborationW H I T E P A P E RJ A N U A R Y 2 0 2 4Images: Getty Images, Unsplash© 2024 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Disclaimer This document is published by the World Economic Forum as a research contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the authoring organizations, entirety of its Members, Partners or other stakeholders.The mentioning of firm names or commercial products does not constitute an endorsement by any of the authoring organizations.ContentsForeword 3Executive summary 41 The new era of industrial strategy 52 Grand challenge 1: Achieving environmental sustainability of manufacturing 6 operations, products and supply chains2.1 Key issues 72.2 Under debate 92.3 Case studies 93 Grand challenge 2: Enhancing supply chain transparency and resilience 113.1 Key issues 113.2 Under debate 134.3 Case studies 134 Grand challenge 3: Accelerating the scale-up and adoption of industrial 15 technologies4.1 Key issues 154.2 Under debate 174.3 Case studies 175 Grand challenge 4: Securing the future of the manufacturing workforce 195.1 Key issues 195.2 Under debate 215.3 Case studies 216 Grand challenge 5: Linking business value with social and environmental 23 values6.1 Key issues 236.2 Under debate 256.3 Case studies 25Conclusion and next steps 27Contributors 28Endnotes 31The New Era of Industrial Strategies2ForewordHistorically, manufacturing industries have fuelled social and economic growth, often guided by industrial strategies from the private and public sectors. By the turn of the 20th century, however, the predominant discourse minimized the role of industrial policies.1 A recent shift, influenced by the newly-emerging Brussels-Beijing-Washington Consensus,2 is steering back towards prioritizing industrial policies as integral to economic development. Recognizing the potential of industrial strategies to address contemporary challenges, such as geopolitical tensions, climate change and technological disruptions, global adoption of industrial strategies doubled within a decade, comprising 50% of policies in the Global Trade Atlas by 2019.3As industrial strategies regain prominence, the World Economic Forum, in collaboration with Cambridge Industrial Innovation Policy (CIIP) at the University of Cambridge and the United Nations Industrial Development Organization (UNIDO), is actively engaging with governments and companies. This colla...
