NTU Sustainability

Why?

Economic growth, social development and climate action are heavily dependent on investments in infrastructure, sustainable industrial development and technological global manufacturing – considered an engine of overall economic growth has been steadily declining due to tariffs and trade tensions. The manufacturing decline caused by the pandemic has further caused serious impacts on the global economy.

In addition, the airport industry, also an important driver of economic development, faced the steepest decline in its history in the first five months of 2020, with a 51 per cent drop in airline passengers due to the global lock downs.

Basic infrastructure like roads, information and communication technologies, sanitation, electrical power and water remains scarce in many developing countries. In 2019, some 87 per cent of people in developed countries used the Internet, compared with just 19 per cent in the least developed countries.