what is the ' policy of industrial conservation '?
Answers
Industrial Policy is defined as the strategic effort by the state to encourage economic transformation, i.e. the shift from lower to higher productivity activities, between or within sectors. ... To be effective, its design and implementation needs to take into account both a government's capabilities and political will.
Green industrial policy (GIP) is strategic government policy that attempts to accelerate the development and growth of green industries to transition towards a low-carbon economy.[1][2] Green industrial policy is necessary because green industries such as renewable energy and low-carbon public transportation infrastructure face high costs and many risks in terms of the market economy.[3] Therefore, they need support from the public sector in the form of industrial policy until they become commercially viable.[3] Natural scientists warn that immediate action must occur to lower greenhouse gas emissions and mitigate the effects of climate change.[4] Social scientists argue that the mitigation of climate change requires state intervention and governance reform.[5][6][7] Thus, governments use GIP to address the economic, political, and environmental issues of climate change. GIP is conducive to sustainable economic, institutional, and technological transformation. It goes beyond the free market economic structure to address market failures and commitment problems that hinder sustainable investment.[8] Effective GIP builds political support for carbon regulation, which is necessary to transition towards a low-carbon economy.[9] Several governments use different types of GIP that lead to various outcomes.