Sustainable Development

Definition

Sustainable development is the practice of meeting present needs without compromising the ability of future generations to meet their own needs, balancing economic growth, social inclusion, and environmental protection. This approach emphasizes long-term strategies that integrate environmental health with economic and social considerations, aiming to create resilient systems that benefit all aspects of society.

5 Must Know Facts For Your Next Test

1. The concept of sustainable development gained prominence in the 1980s, especially with the 1987 Brundtland Report titled 'Our Common Future'.
2. The United Nations established 17 Sustainable Development Goals (SDGs) in 2015 as a global framework to address critical issues like poverty, inequality, and climate change.
3. Sustainable development involves collaboration between governments, businesses, and civil society to implement practices that enhance sustainability at local, national, and global levels.
4. The World Bank plays a crucial role in financing sustainable development projects aimed at poverty reduction and promoting environmental sustainability.
5. Key principles of sustainable development include intergenerational equity, ecosystem integrity, and participatory governance.

Review Questions

• How does sustainable development aim to balance economic growth with environmental protection?
  • Sustainable development seeks to ensure that economic growth does not come at the expense of the environment by promoting practices that conserve resources and reduce pollution. It encourages investments in renewable energy and sustainable agriculture while also addressing social equity. This balance is essential for creating systems that are resilient over time, allowing both current and future generations to thrive without depleting natural resources.
• In what ways does the World Bank support sustainable development initiatives around the world?
  • The World Bank supports sustainable development initiatives by providing financial resources, technical expertise, and policy advice to countries working on projects that promote economic growth while protecting the environment. It funds infrastructure projects that integrate sustainability principles, such as clean water access, renewable energy sources, and climate-resilient agriculture. The World Bank also emphasizes capacity building and knowledge sharing among nations to foster best practices in sustainable development.
• Evaluate the effectiveness of international environmental agreements in promoting sustainable development globally.
  • International environmental agreements play a critical role in promoting sustainable development by fostering cooperation among nations to address transboundary issues like climate change and biodiversity loss. These agreements set binding targets for emissions reductions and conservation efforts while providing frameworks for monitoring progress. However, their effectiveness can vary based on commitment levels from signatory countries and enforcement mechanisms. Successful agreements often incorporate flexibility for nations to adapt goals based on their specific circumstances while ensuring accountability through regular reporting.

Related terms

Triple Bottom Line: A framework that evaluates a company's commitment to social, environmental, and economic responsibilities, focusing on people, planet, and profit.

Green Economy: An economy that aims for sustainable development without degrading the environment, often emphasizing low carbon emissions, resource efficiency, and social inclusion.

Sustainable Practices: Actions or strategies that reduce negative impacts on the environment while promoting social equity and economic viability.