ICIDS 2024

Ensuring sustainability in infrastructure development is challenging due to the competing demands of economic growth and environmental conservation. Actions to mitigate and adapt to the new realities are required to be taken across infrastructure sectors, including energy systems, transport, urban and real estate development, digital strategies, financing and policy ecosystems for development.

New industrialisation model embraces the understanding of circular economy applications to deliver lasting methods of innovations and sustainable solutions. Amidst these developments, countries are committed to the inclusive development agenda. Decision makers often are compelled to prioritize projects with short-term returns, making it challenging to allocate resources to initiatives that may not be commercially lucrative but are crucial for addressing social disparities.

In this digital era, as infrastructure becomes increasingly interconnected and reliant on digital systems, the risk of cyberattacks on critical infrastructure has increased. The complexity and interconnectivity of technologies demands thorough risk assessments to mitigate potential failures and disruptions. Continuous technological advancements present both opportunities and challenges for policy makers, companies and research organisations compelling them to develop new frameworks and models of applications.

While there is growing momentum on all development fronts, the financing landscape is evolving to newer channels and instruments like responsible financing, green financing and sustainable financing. There is still a requirement of standardized metrics and clear definitions for ‘green’ projects helping investors to assess the environmental impact accurately. Green financing often requires higher upfront costs and longer payback periods, deterring potential investors and project developers.

As we navigate to higher growth, new models of development and relatively uncertain path to walk, the convergence of sustainability, technology, equity, and green financing is likely to reshape the landscape of infrastructure development, fostering inclusive and environmentally conscious economic growth.