Economics Project
Economics Project
Economics Project
INTRODUCTION
Sustainable development is the organizing principle for meeting human
development goals while simultaneously sustaining the ability of natural systems
to provide the natural resources and ecosystem services upon which
the economy and society depend. The desired result is a state of society where
living conditions and resources are used to continue to meet human needs without
undermining the integrity and stability of the natural system. Sustainable
development can be defined as development that meets the needs of the present
without compromising the ability of future generations.
Sustainable development has been defined in many ways, but the most frequently
quoted definition is from Our Common Future, also known as the Brundtland
Report: "Sustainable development is development that meets the needs of the
Present without compromising the ability of future generations to meet their own needs’’.
HISTORY OF SUSTAINABLE DEVELOPMENT
The concept of sustainable development formed the basis of the United Nations Conference on
Environment and Development held in Rio de Janeiro in 1992. The summit marked the first
international attempt to draw up action plans and strategies for moving towards a more sustainable
pattern of development. It was attended by over 100 Heads of State and representatives from 178
national governments. The Summit was also attended by representatives from a range of other
organizations representing civil society. Sustainable development was the solution to the problems
of environmental degradation discussed by the Brundtland Commission in the 1987 report Our
Common Future.
The concept of sustainable development received its first major international recognition in 1972 at
the UN Conference on the Human Environment held in Stockholm. The term was popularized 15
years later in Our Common Future, the report of the World Commission on Environment and
Development, which included what is deemed the 'classic' definition of sustainable development:
“development which meets the needs of the present without compromising the ability of future
generations to meet their own needs".
More recently, the World Summit on Sustainable Development was held in Johannesburg in 2002,
attended by 191 national governments, UN agencies, multilateral financial institutions and other
major groups to assess progress since Rio. The Johannesburg Summit delivered three key outcomes:
a political declaration, the Johannesburg Plan of Implementation, and a range of partnership
initiatives. Key commitments included those on sustainable consumption and production, water and
sanitation, and energy.
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GOALS OF SUSTAINABLE DEVELOPMENT
The Sustainable Development Goals (SDGs) are a collection of 17 global goals set by
the United Nation General Assembly in 2015 for the year 2030. The SDGs are part of
Resolution 70/1 of the United Nations General Assembly, the 2030 Agenda. The
Sustainable Development Goals are:
1.No Poverty
2. Zero Hunger
4. Quality Education
5. Gender Equality
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12. Responsible Consumption and Production
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SUB GROUPS
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Environmental Sustainability: Environmental sustainability means that we are living
within the means of our natural resources. To live in true environmental sustainability we
need to ensure that we are consuming our natural resources, such as materials, energy fuels,
land, water etc, at a sustainable rate. Some resources are more abundant than others and
therefore we need to consider material scarcity, the damage to environment from extraction
of these materials and if the resource can be kept within circular economy principles.
Environmental sustainability should not be confused with full sustainability, which also need
to balance economic and social factors.
Social Sustainability: Social sustainability is the ability of society, or any social system,
to persistently achieve a good social wellbeing. Achieving social sustainability ensures that
the social wellbeing of a country, an organization, or a community can be maintained in the
long term.
Taking these three pillars of sustainability further if we only achieve two out of three pillars
then we end up with:
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HOW CAN WE MAKE IT HAPPEN?
To make sustainable development the norm, we have to change the vision of the cultures of
each country. To change the vision of the culture two things have to occur.
1. The culture must value a global benefit more than a local one.
Both of these are very hard to do because it requires an element of self-sacrifice be adopted
by the present society. The value of the future is something that is not held in high esteem
when it comes to creating a profit, or to living with convenience. The general self-focus of
each generation is understandable, but as history has shown in other areas – it can be
expanded to include a sense of responsibility towards futures unknown that will allow for
different choices to me made in the present.
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ADVANTAGES OF
SUSTAINABLE DEVELOPMENT
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DISADVANTAGES OF
SUSTAINABLE DEVELOPMENT
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5.Global Cooperation Challenges: Achieving sustainability often requires
international cooperation, which can be difficult to achieve due to differing
interests and priorities among nations.
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fuel based sources of energy instead of renewable and
sustainable options, the cost and environmental effects of
supplying these basic needs would become a tall order.
2. Agricultural requirement
4. Financial stability
5. Sustain Biodiversity
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Unsustainable development practices like emission of
greenhouse gasses in the atmosphere kill many plant
species resulting in reduction of atmospheric oxygen. This
is not good for humans. Sustainable development practices
encourage the use of renewable energy resources, and
organic farming practices that do not emit any greenhouse
gas to the atmosphere.
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EXAMPLES OF SUSTAINABLE DEVELOPMENT
WIND ENERGY
SOLAR ENERGY
This is energy harnessed from the sun using solar panels. It’s
advantageous since it’s absolutely free and its supply is
infinite. These factors make it beneficial to consumers and
good for Mother Nature because it doesn’t contribute to
emission of greenhouse gasses.
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GREEN SPACES
Green spaces are locations where plants and animals are left
to flourish. Parks also fall into the category of green spaces.
Green spaces provide people remarkable opportunity to take
pleasure in outdoor recreation, more so in big cities, where
resting space is hard to come by. Green spaces also help
regulate climate and quality of air, insulates rivers and
streams from polluted runoff and lowers energy usage by
dealing with the warming impacts of paved surfaces.
CROP ROTATION
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SUSTAINABLE DEVELOPMENT AND IT’S
RELATION BETWEEN GDP
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The following is the GDP represented on a TIME-SERIES
graph. It shows the impact on society, infrastructure and
environment, justice, equality and cooperation addition to
climate and planet.
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What are the practices of sustainable agriculture?
Common practices of sustainable agriculture are crop rotation,
drip irrigation, Integrated Pest Management (IPM), planting
cover crops, raising of heritage species, and small scale
agriculture.
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SUSTAINABLE AGRICULTURE
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SUSTAINABLE DEVELOPMENT AND IT’S
RELATION WITH ECONOMICS
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agriculture, and conservation. These jobs contribute to economic
growth and employment.
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Following is a line graph representing the labour productivity in
india and some selected economies from 1970-2010.
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Redistribution of income and wealth is the transfer of income and
wealth (including physical property) from some individuals to
others through a social mechanism such as taxation, welfare,
public services, land reform, monetary policies, confiscation,
divorce or tort law.
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