New Trends in Sustainable Development for Industry 5.0: Digital Green Innovation Economy

Abstract

In the context of increasing anti-globalization trends, sustainable economic development has become an inevitable and feasible solution to address the growing contradictions between social, environmental, and economic factors. It aims to achieve a balance between the needs of the economy, society, and the environment, paving the way for long-term sustainable development. This article is rooted in the backdrop of severe global conflicts between the environment and economy, as well as society. By synthesizing and analyzing a wide range of literature, the article explores the pivotal role of digitalization, green practices, and innovation in driving sustainable economic development. The article emphasizes the interconnectedness and collaborative nature of digital empowerment, green leadership, and innovation-driven approaches in promoting harmonious coexistence between humanity and nature, as well as facilitating high-quality economic growth. Drawing insights from the "Taipao e-Agricultural Insurance" case study, the article demonstrates the benefits derived from the integration of digital, green, and innovation strategies, thereby providing valuable guidance for enterprises and industries seeking transformation and development. Furthermore, the article proposes viable strategies for achieving the integration of digital empowerment, green practices, and innovation-driven development. It offers a comprehensive analysis that expands the existing research on these topics and lays the foundation for future in-depth exploration. The findings of this article carry both theoretical and practical significance, offering valuable insights and practical approaches for achieving sustainable development in various sectors.

Received: 25 August 2023 | Revised: 1 November 2023 | Accepted: 3 December 2023

Conflicts of Interest

The authors declare that they have no conflicts of interest to this work.

Data Availability Statement

Data available on request from the corresponding author upon reasonable request.

Author Contribution Statement

Shi Yin: Conceptualization, Formal analysis, Investigation, Writing - original draft, Writing - review & editing, Project administration, Funding acquisition. Lirui Liu: Conceptualization, Investigation, Writing - original draft. Tahir Mahmood: Formal analysis, Writing - review & editing, Project administration.