Sustainable Development

Definition

Sustainable development refers to a holistic approach to growth and progress that seeks to meet the needs of the present without compromising the ability of future generations to meet their own needs. This concept emphasizes the balance between economic growth, environmental protection, and social equity, highlighting the importance of creating systems that support long-term health and prosperity for both people and the planet.

5 Must Know Facts For Your Next Test

1. Sustainable development originated in the 1987 Brundtland Report, which introduced the idea of meeting present needs without jeopardizing future generations.
2. Key goals of sustainable development include reducing poverty, promoting education, and ensuring access to clean water and energy while protecting biodiversity and ecosystems.
3. Businesses are increasingly recognizing the importance of sustainable development as a way to mitigate risks and enhance their reputations through corporate social responsibility practices.
4. Sustainable development is closely tied to globalization, as it requires international cooperation to address challenges like climate change and resource depletion that cross borders.
5. The United Nations has established 17 Sustainable Development Goals (SDGs) as a universal call to action for achieving a better and more sustainable future by 2030.

Review Questions

• How does sustainable development promote a balance between economic growth, environmental health, and social equity?
  • Sustainable development seeks to create systems that support economic growth while ensuring that environmental health is maintained and social equity is prioritized. This balance means investing in renewable energy sources to drive economic progress without depleting natural resources. Additionally, social equity ensures that all individuals have access to opportunities, resources, and benefits resulting from development efforts, thus fostering an inclusive society.
• Discuss how corporate social responsibility initiatives can reflect the principles of sustainable development in business practices.
  • Corporate social responsibility initiatives often embody the principles of sustainable development by integrating ethical considerations into business strategies. Companies might adopt practices that minimize their ecological footprints or invest in community development projects. By aligning their operations with sustainable development goals, businesses can create long-term value for stakeholders while addressing environmental challenges and promoting social welfare.
• Evaluate the implications of intergenerational equity on policy-making for sustainable development.
  • Intergenerational equity plays a crucial role in shaping policies for sustainable development by emphasizing the rights of future generations. This principle encourages policymakers to consider long-term impacts when making decisions about resource use, environmental protection, and economic growth. By prioritizing sustainability in policy-making, governments can ensure that future generations inherit a healthy planet with ample resources, leading to a more equitable society across generations.

Related terms

Triple Bottom Line:

A framework that evaluates a company's commitment to social responsibility, environmental sustainability, and economic performance.

Ecological Footprint: A measure of the environmental impact of an individual or community, expressed as the amount of land and water area required to produce the resources consumed and absorb the waste generated.

Intergenerational Equity:

The principle that future generations have the right to inherit a healthy environment and resources, ensuring fairness and justice across different generations.