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Why Digital Upskilling is a Crucial Part of Sustainability

by
World Economic Forum
January 21, 2022
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Summary

In today's Industry 4.0 world, one of the biggest sustainability questions is how our global economy will adjust to the ongoing automation of traditional manufacturing and industrial practices.

In today's Industry 4.0 world, one of the biggest sustainability questions is how our global economy will adjust to the ongoing automation of traditional manufacturing and industrial practices. Read more from the World Economic Forum on how the viability and health of our societies will depend on equipping workers with the skills needed in a new digital economy.

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Why digital upskilling is a crucial part of sustainability

In the last decade, companies everywhere have begun to understand that sustainability is no longer just an optional extra. Now that we have truly woken up to how our actions will affect future generations, we know that neither our businesses nor our society will have much of a future without sustainable thinking.

Increasingly, however, sustainability is also good for business in the here and now. Good ESG (Environmental, Social and Governance) performance is known to create higher return on investment, encourage resilience in crises, and attract preferential attention from investors – particularly asset managers who need to report on their investment decisions in a clear way.

Today, one of the biggest sustainability question marks is how our global economy will adjust to the ongoing automation of traditional manufacturing and industrial practices, otherwise known as the Fourth Industrial Revolution. Clearly, the viability and health of our societies will soon depend on equipping large numbers of workers with the skills to fill roles in a new digital economy. We believe that skill-based initiatives being reflected in ESG reporting is invaluable because companies that digitally upskill their employees are a key part of social sustainability.

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World Economic Forum
World Economic Forum

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland. It is independent, impartial and not tied to any special interests. The Forum strives in all its efforts to demonstrate entrepreneurship in the global public interest while upholding the highest standards of governance. Moral and intellectual integrity is at the heart of everything it does.

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