SUSTAINABLE ECONOMIC DEVELOPMENT

Presented by

Arati Amlekar

Sayali Dhole

ABSTRACT :

This report stems from review provides an overview of academic and ‘expert’ literature and
prevailing debates surrounding sustainable development for a world and Indian economy.

This topic aim to covered the review on scarcity of resources,green jobs, environment
protection for sustainable development and environmental justice.these were selected on
basis that they are important issues for sustainable development policy.

To gather needed data,different references were used such as books,magazines,newspapers

and the internet.

KEYWORDS

INTRODUCTION:

Sustainable development has become the “buzzword” of both the academic and the business
world.”Sustainability” has been present for the last decade in academic papers,syllabuses of
Faculties,boardrooms of local authorities and corporations and offices of public relations
officers.Unfortunately,sustainability has become a “fashionable” concept in theory,but it is
considered extremely expensive to be put in practice by major corporations,firms and local or
national governments.
‘SUSTAINABILITY’ is invoked as a desirable objective in a range of contexts,yet its
meaning is not always clear.At its most general level,sustainability referce to the capacity to
continue an activity or process indefinitely.It can be related to economic,social or
environmental activities and can have varied meanings within different disciplines.

According to the UNITED NATIONS WORLD COMMISSION ON ENVIRONMENT AND

DEVELOPMENT 1987,

“Development that meets the needs of the present without compromising the ability of future
generations to meet their own needs”.

Sustainabilty From An Economic Prospective:

A widely use approach is to achieve sustainability in the context of three pillars –

Ecological,Social and Economic. Sustainability development can only be achieved when each
pillar is promoted in concert with the others.Economy function in ecosystem. Economy
cannot exist without ecosystem.It provides factor of production for economic growth i.e
Land,Labour,Enterprenuer and capital. Sustainable economic growth manage this resources
in such a way that they will not depleted and remain available for future generation.

STATEMENT OF PROBLEM:

How to achieve sustainable economic growth?

What are the challenges/factors to achieve sustainable economic development?

OBJECTIVE-

 Approches to education for sustainable development are increasingly trans-

disciplinary,with a view beyond formal education,to informal and unformal context
and to the engagement of the media.Therefore, explore the literature on the integration
of sustainable development in the formal education curriculum,alongside lifelong
learning and training and skills for sustainable development.
 To understand better environment policy,towards sustainable economic growth.
 To study about scarcity of resources and environmental factors affecting economic
growth.

NEED AND RELEVANCE OF STUDY:

 By 2050,the world’s population will reach nine billion.Therefore it is necessary for the
developed and developing countries to act together to meet the challenge of sustainable
development.If we do not meet this challenge,we will need the equivalent of two planets to
susutain us.Sustainability for us is not a choice to be made but is precondition for
development.

Fortunately,we have the instruments to tackle these challenges.Due to,lack of knowledge

amongst to people about the instruments.The developed countries have developed efficient
technologies that exploit their resources from biodiversity to land and minerals in such a way
that are capable of satisfying present need as well as future needs.

REASERCH METHOD:

ANALYSIS AND INTERPRETATION OF DATA:

From socities,which used to exist a long time ago,we are inherited with the image of
planet,which has nearly no external restrictions for humans. In 2003 the report spread by
Club of Rome- about accelerating changes in consciousness about the relation of
environmental problems and economic growth.Socities all over the world started to
investigate environment and founded institutions with the task of minimizing the impacts of
emission on man.

In 1974 the “Declaration of Cocoyok” has been published UN Conference on Trade and
Development.This recognized poverty –caused behaivour of societies and poverty caused
environment degradation as well as over-consumption of industrialised countries.
However,already in 1978 Ittelson and Burkhardt stated that the “neglect the relation between
the socio-economic system and its natural environment has had detrimental consequences”.

Modernisation Theory (19950,1960) came up with under developed,developed countreies.

.where north-west culture are seen as positive,modernized whereas the traditional under
developed countries are purely negatively characterized.

In terms of the perspective from the developed countries,economic growth results in

increasing wealth,income,standerd of living and improved health care facilities.This state of
affluence on the other hand came at a price of environmental degradation,which commenced
from the dawn of the industrial revolution in the 18th century.The drive to industrial
development was based on increasing use of fossile fuels,raw materials,syntheics and
chemicals this rapid consumption and production drive placed great pressures on the
environment throught overexploitation and depletion of resources,accumulation of CO2 nad
greenhouse gases in the atmosphere,pollution,and destruction of eco-system.

Therefore,one can infer that isseues arising in the environment are as a result of both the lack
of development and the consequences of economic growth in the countries of the world.An
important sustainable development challenge arises from unsustainable consumption and
production patterns that have evolved in developed countries,a pattern that is increasingly
being followed by developing countries.For example,per capita green house gas emissions
levels in developed countries are 20-40 times greater than needed for stabilization of the
atmospheric greenhouse gas concentration.

Major Challeges To Sustainability –

Pollution Depletion Poverty

Greenhouse Scarcity of Urban and
gases materials minority
unemplome
Developed economy Use of toxic Insufficient nt
materials reuse and
recycling
Contaminat
ed sites

Industrial Overexploit Migration

emissions ation of to cities
renewable
Emerging economy Contaminat Lack of
resources
e water skilled
Overuse of workers
Lack of water for
sewage Income
irrigation
treatment ineqality

Dung and Deforestatio Population

wood n growth
burning overgrazing
Survival economy Low status
Lack of Soil loss of women
sanitation
dislocation
Ecosystem
destruction
due to
developmen
t
What this actually means,is that economic development is the advancement of economic
wealth of a country,aimed at overall welfare of the citizens.Achieving overall welfare is
accomplished through improving the quality of life,measured by life
expectancy,literacy,gross domestic products(GDP).

Extreme poverty is one challenge to sustainable development.The social ills associated with
poverty,including diseases,family break down,crime are on the rise in many
countries.Political instability,sometimes leading to violent conflict,hinders socio-economic
progress in many countries and regions.Population growth is expected to exacerbate these
pressures. Marginalisation is big challenge to sustainable growth.Many countries are
struggling under combined weight of slow economic growth,a heavy external debt
burden,corruption,violent conflict,and food insecurity.

In the end,the real trouble with our economic compass is that it points in exactly the wrong
direction.Most businesses are behaving as if people were still scarce and nature still abundant
– the conditions that helped to fuel the first Industrial Revolution.The rapid mechanization of
the textile industries caused explosive economic growth that created labor shortage in the
factory and the field.And made people a hundred times more productive than they had ever
been.

The logic of economizing on the scarcest resources because it limits progress,remains

correct But the pattern of scarcity is shifting : now people aren’t scarce but nature is No
technology or amount of money can substitute for a stable climate and a productive bio
sphere. Even proper pricing can’t replace the priceless.

However,for every problem there is solution. The International community has realized the
need for strategic approach to address environment protection,while at the same time foster
development.As such,this ultimate goal can be achieved through the implementation of
Sustainable Development.

Therefore,Sustainable Development is an integrated concept that:

1. Requires meeting the basic needs towards the aspiration for a better improved quality
life.
2. Is based on democracy,where the rule of law is grounded in the respect of
fundamental rights.
3. Promotes employment in an economy,whose strength is based on
education,innovation,social cohension,and the protection of human health and the
environment (EEA).

STRATEGIES FOR SUSTAINABLE WORLD

The debate on business and the environment has typically been framed in simple
yes-no terms: But the environment like other business issues,requires a more complex
approach.
Nearly three decades ago,environmentalists such as Paul Ehrlich and Barry
Commoner made this simple bu powerful observation about sustainable
development:the total environmental burden(EB) created by human activity is a
function of three factors.They are population(P);affluence(A),and
technology(T),which is how wealth is created.The product of these three factors
determines the total environmental burden.Reducing environment burden csan be
done by decreasing human population,lowering the level of
affluence(consumption),or changing technology used to create wealth.

1. Pollution Preventation-
 Pollution control means cleaning up waste after it has been created.Main focuse is on
minimizing or eliminating waste before created.Total quality management,pollution
prevention strategies depend on continuous improvement effort to reduce waste and
energy use.Aeroquip Corporation,a $2.5 billion manufacturer of hoses,fittings and
couplings,saw an opportunity here.Like most industrial suppliers,Aeroquip never
thought of itself as a provider of environmental solutions.But in 1990,its executives
realized that the company’s products might be especially valuable in meeting the need
to reduce waste and prevent pollution.As companies benefits of using raw materials
and resources more productively,businesses like Aeroquip’s will continue to grow.
2. Green Jobs-
If a company wants to stay within standerd budget and reap the full benefits of
sustainable building,all development decisions from the start must be guided by a
green mind set.Recycling construction waste is part of green process that brings
several benefits.
3. Education-
Sustainability requires the enforcement of wider responsibilities for th impacts of
decisions.this requires changes in legal and institutional frameworks that will enforce
the common interest.Some necessary changes in the legal framework start from
wellbeing of human being.Where education will help.Economic interactions through
trade,finance,investment,and will also grow with the help of education.
4. Natural capital-
Natural capitalism is both necessary and profitable,it will subsume traditional
industrialism.The journey to natural capitalism involves major shifts.Natural
capital dramatically raised productivity.restoring,sustaining,and expanding the
most important form of capital.
– Increase the productivity of natural resources.
-Shift to biologically inspired production models.In production systems,every
output either is returned harmlessly to the ecosystem as a nutrient,like compost,or
becomes an input for manufacturing another product.Such systems can designed
to eliminate the use of toxic materials,which can hamper nature’s ability to
reprocess materials.
- Reinvest in natural capital.human wants are unlimited and resources are
limited.Pressure of human needs expand.Fortunately,these pressures all create
business value. Bilogical resources like fish,are becoming scarce,most mined
 resource,such as copper and oil,seem ever abundant.Using resources manyfold
more productivity and profitable
5. Innovative Technology-
Technologies make it feasible to manufacture pollution-free,high-
performance.Clean technologies are desperately needed in emerging economies of
Asia. Green building technologies help conserve and even generate energy.That
also increase productivity in less sick time.

CONCLUSION :

Rapid population growth in our city centers and urban sprawl has stretched
the boundaries of our cities to unstainable limits.coupled with our growing dependence on car
and lack of public transport infrastructure indicates both social and political
problems.Sustainability is therefore an issue that needs to be addressed at many levels and a
significant paradigm shift is required if our society is to become sustainable.Political and
social standards need to be revised nationally and internationally as well as state,regional,and
local level.

Further research is monitor new and existing developments so that we can further understand
the impacts on the environment in short,medium and long term.

There should be better integration between social and green procurement to create a more
holistic sustainable procurement approach.There is a pressing need to introduce mechanisms
whereby assessment and evaluation of sustainable procurement can be.

A lack of clear guidance has allegedly hampered reform of more sustainable business
practices and the spread of corporate social responsibility.Green job’s need to increased to
adopt sustainable development.

REFERENCE :

EEA (2006),Sustainable Development:Policy and guid for the EEA

A literature review of Dr.Saroj Kumar Singh

Ujjayant Chakraverty (2014) ‘Sustainable economic development’

Harvard Business Review on Green Business strategy