Since 1990, globalization has played a central role in improving lives. According to the World Economic Forum, by 2030, an estimated 1.1 billion people will be lifted out of extreme poverty. The New Climate Economy estimates that the economic benefits of sustainable development will reach trillions of dollars. What does sustainability look like? It’s not just about reducing greenhouse gas emissions and improving human health. It’s also about ensuring that the environment and the economy are both sustainable.
Environmental sustainability
Among the three pillars of sustainable development, environmental sustainability is one of the most widely discussed. Environmental sustainability measures include reducing carbon footprints, water usage, and wasteful processes in the supply chain. Other pillars include social development and labour standards. Social development includes addressing ethical and sustainable business practices and ensuring that employees are treated fairly and receive appropriate benefits. Furthermore, environmental practices can also have positive financial impacts, such as reducing waste and improving fuel efficiency.
The definition and standards of environmental sustainability vary according to local conditions. In the U.S., the Environmental Protection Agency regulates air pollutants, refrigerants, and hazardous waste management. These standards are enforced with monetary penalties. State/province governments can also set more stringent guidelines for environmental sustainability, such as requiring companies to purchase fuel-efficient cars. These standards can be adopted and enforced by different groups, including businesses, institutions, and individuals.
Environmental sustainability is the preservation of natural resources and ecosystem services within a society’s carrying capacity. This goal stabilizes the relationship between human culture and the living world. As the population of human populations has increased, the diversity of Earth’s ecosystems and its ecosystems has decreased. Therefore, environmental sustainability is critical in developing countries. The Society for Environmental Sustainability invites research articles, critical reviews, and novel ideas on environmental sustainability.
Although the definition of sustainability is relatively ambiguous, it is generally agreed that the concept encompasses two fundamental goals, economic sustainability and environmental sustainability. The former refers to the development of society without depleting its natural resources, while the latter focuses on the production of materials and the consumption of energy. Sustainable development also emphasizes the role of social responsibility in preserving the environment, especially the land and water resources. Sustainable development, therefore, requires social responsibility and a dynamic equilibrium between natural systems and humans.
The United Nations’ Sustainable Development Goals have set a course for action in addressing environmental challenges. The UN’s Sustainable Development Goals outline a path forward for the world’s societies to pursue a low-carbon future. While progress toward the global vision for sustainable development is steady, it is far from complete. Governments that do not engage in efforts to implement sustainable development policies risk putting their populations at risk. In order to overcome barriers and implement the goals, governments need the help of other actors. Using critical thinking, leadership, and negotiation skills are essential in these roles.
Economic sustainability
Economic sustainability is the value we put on our natural resources and how we use them in a way that is sustainable. The process of producing and transporting goods has notable impacts on ecosystems, and also creates a stockroom for rejected goods. As a result, the concept of economic sustainability is an important tool for sustainable development. The EU, for example, believes that we must regulate the use of natural resources based on sound scientific principles.
The economic pillar of sustainable development involves balancing the needs of society with the needs of businesses. While profit is necessary, it must not come at the cost of other pillars. These activities include risk management, compliance, and proper governance. While there is no global standard for these activities, they can help businesses maintain economic well-being over time. Economic sustainability is essential to a sustainable development strategy, because it can help create a stable economy while also stimulating economic development.
The economic model of sustainable development has generated huge debates in both natural and social sciences. For example, economists have developed models that integrate economics and climate change, which can help policymakers understand the impacts of economic activity on earth systems. In 2018, economists Ken Arrow and Elinor Ostrom shared the Nobel Prize in economics for their seminal work on climate models. A common thread among these models is the need to balance economic growth with the environmental demands of society.
Another method of measuring economic sustainability is life cycle costing. This method was developed to assess the total price of long-lived products, which impose significant costs during their life cycle. In life cycle costing, the total price of the product is calculated by adding up all the costs associated with the production, use, and disposal phases. This total cost is then expressed in monetary terms. This process is necessary for sustainable development because it is crucial to the future of the planet.
The four pillars of sustainability are economic, societal, and environmental. These pillars make the sustainable development process possible and counterbalance the extremes. By incorporating economic sustainability into the model, we can encourage corporations to develop sustainability strategies. It can help them get the financial backing they need to implement effective sustainability practices. If we all work together to implement these pillars, we can all benefit from the benefits of sustainable development.
Social sustainability
As the name suggests, social sustainability is an important component of sustainable development. Developing it requires a conscious effort to improve human conditions. Companies that do not care about their local communities are more likely to produce poor products and make costly mistakes. For instance, companies that ignore social sustainability risk creating truck driver accidents. Sleepy drivers can damage goods, cause accidents, and cause bad publicity. Additionally, organizations that are not committed to social sustainability tend to fail in their attempts to develop a sustainable business model. Fortunately, experts have broken down the concept of social sustainability into practical steps to help businesses improve their business.
The term “social sustainability” refers to a state of well-being that takes into account both the physical boundaries of places and the planet’s environment. Social sustainability encompasses a number of key thematic areas, ranging from environmental issues to skills development. Moreover, it blends traditional social policy issues such as equality and participation with environmental issues and notions of wellbeing. By integrating social sustainability, communities can achieve a more harmonious and sustainable lifestyle.
A good definition of social sustainability should provide a common aim for different levels of analysis, from the micro-level to the macro-level. Micro-levels can include neighborhoods and individual buildings, while macro-levels can include countries and regions. It should be broad enough to guide work on all levels, and specific tools can be developed to meet different levels of analysis. In addition, social sustainability should allow for various levels of analysis, including the local, regional, and global levels.
The concept of social sustainability should be compatible with different views on justice. Different actors can use it differently, and they may agree on what to exclude. A concept that satisfies the reliabilitycondition is likely to be based on observations of human behavior. Further discussion is needed to determine the best way to define the concept. In the meantime, a concept that satisfies this condition is likely to be based on observational criteria and can be used by different actors.
Intergenerational justice
The United Nations’ Major Group on Children and Youth (MGCY) frequently refers to the intersection between intergenerational justice and sustainable development. This term is also a key part of its concept of equitable futures, which adheres to the conventional sustainability framing while departing from it. As such, a close connection is necessary to understand how sustainability politics can support the goals of MGCY. The MGCY statement explains the underlying concept of intergenerational justice: “The notion of an equitable future for all generations is a core part of the sustainable development framework. It aims to ensure that all societies achieve an equitable future for all.
Youth activists have reframed the notion of intergenerational justice to include young people. While the discourse has previously focused on longer term policies and politics, new scientific evidence suggests that global temperatures may increase more rapidly than originally thought. As a result, the term “intergenerational justice” has been reframed to include the young generation currently leading society. This shift in focus has created a heightened urgency for intergenerational justice in policymaking and social activism.
A common thread in these discussions is the need for new ways of thinking about sustainability. While there is no single universally agreed upon definition of sustainability, it is widely accepted that the aim of the practice is to create conditions that promote productive harmony between humans and nature while satisfying the social, economic, and environmental needs of current and future generations. While the operational definition of sustainability includes a range of concepts, intergenerational equity is the focus of this discussion.
Future generations are often ignored in current policymaking arenas because they are perceived as abstract entities. The present generation, on the other hand, is the custodian of the resources and has a responsibility to protect the legacy for the future generations. This perspective is essential to ensuring that our society is truly sustainable. So, what are we waiting for? Why do we need intergenerational justice and sustainable development? It might surprise you!
