Pretoria: The G20 Sustainable Industrial Policy Report provides a strong foundation for collective action towards building diversified economic structures, said the Deputy Minister of Trade, Industry and Competition, Zuko Godlimpi. He emphasized the urgent need for sustainable industrial policy in light of current production and consumption systems that rely heavily on fossil fuels and contribute to ecological degradation and resource depletion. Godlimpi highlighted that these systems are incompatible with a healthy planet and a just economy.
According to South African Government News Agency, the Deputy Minister was speaking at the launch of the report titled "G20: Removing International Obstacles to Sustainable Industrial Policy," held at the headquarters of the Department of Trade, Industry and Competition (the dtic) in Pretoria. The event was co-hosted with the Institute for Economic Justice (IEJ) ahead of the G20 Leaders' Summit at the weekend.
The report acknowledges the pressing need for global cooperation to combat climate change, economic underdevelopment, inequality, poverty, and geopolitical instability. It points out that the current multilateral system presents barriers that hinder rather than facilitate transformative national policies. Godlimpi noted that the report offers an invaluable framework for aligning industrial strategies with climate, development, and equity goals.
Godlimpi further elaborated that sustainable industrial policy offers a different path by enabling purposeful transformation. This involves building diversified economic structures that respect planetary boundaries while also expanding opportunity, strengthening resilience, and improving social outcomes. He stressed that the industries of today should support human and ecological flourishing tomorrow.
He emphasized that the transition to sustainable, green, and inclusive industrial systems must be just, with recognition that unequal rules or limited resources cannot be the foundation for such a transition. Workers need support with new skills, communities must see tangible benefits, and developing countries require access to the tools, technology, and finance necessary to build new industrial ecosystems.
"As South Africa, we are proud to champion this agenda within the G20. Our Presidency has prioritized inclusive growth and industrialization because we know what is at stake, not only for our own economy but for the future of all developing nations," Godlimpi concluded.