International Youth Day 2022: Why intergenerational equity is the way forward

This year’s theme for world youth day presents a chance to give old ideas a new lease of life, as it focuses on Intergenerational Solidarity: Creating a World for all Ages. The aim is to work towards sustainable development, emphasizing that all generations need to work collectively towards achieving sustainable development goals. This is where the concept of intergenerational equity takes center stage, as it talks about sharing resources between generations, and builds on the notion of using resources judiciously. While the theme of intergenerational equity espouses the idea of fairness or justice between generations, a look around presents a sombre reality of the inequalities and lack of opportunities that generations face. With the rapidly depleting natural resources, increased stress on nature and environment, social inequality, non-uniform respect of human rights and surmounting eco-political situations, it seems like a tall ask to keep the world as we hope, for future generations. Role of youth in achieving intergenerational equity A lot rides on the shoulders of the youth, as they navigate their way through uncertainties compounded by externalities such as the war, rising costs of living, job mismatch and supply chain disruptions, after just emerging from the pandemic. Since the pandemic, over 70% of youth who study or club working and studying have been impacted by closure of training centers, universities and schools, according to the International Labour Organization. Corporates can fill this lacuna, by not only employing graduates but also conducting youth oriented programs that enable leadership skills. This can be expanded to the rural areas as well.  For instance, many organisations tie up with the government to offer digital upskilling to young people in the rural and semi-rural areas, thus ensuring that no one is left behind when it comes to skilling and learning. Innovations and achieving intergenerational equity Nothing of significance in any sphere- economic, social or political can develop without innovation. For instance, Startup India has enabled the youth to nurture their innovation and fulfill their dreams of building a startup. A lot of good can come from nurturing a spirit of entrepreneurship that focuses on solving issues focused on sustainability. As per official reports , India’s Startup Ecosystem, with over 61,000 recognized startups, spread across 55 sectors and 635 districts is the 3rd largest startup ecosystem in the world. We need to encourage the youth to take risks and embrace failure, so that they can one day go on to build the best startups and companies. We need to focus equally on education and scientific discoveries, where the youth is interested and keen to learn. There is a need to instil a sense of pride in all professions, even focusing on vocational training, to ensure that the youth takes up manufacturing and engineering in a big way. The aim is that they should not be discouraged and lose their passion just because they need to find a job to pay off loans. If the country truly wants to prevent brain drain and retain new talent, they need to work on all fronts right from educational institutions to finding such jobs that focus on innovation and nation-building. Intergenerational equity in an interconnected world With the metaverse and IoT revolution changing the work structure, society will have to present collective solutions to keep the levers of economic growth alive, while embracing and making a place for new technologies. As countries scramble to work on keeping alive all engines of economic growth, it would be good to remember philosopher Edmund Burke who said “ [Society is a partnership not only between those who are living but between those who are living, those who are dead and those who are to be born.” In an increasingly interconnected world, there is a renewed impetus for working together and finding solutions that can ensure finite natural resources are used in a judicious manner, keeping in mind the needs of future generations. The author is Head, Innovation and CQH- Business Excellence, Tata Chemicals. Views are personal. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.