Blog

Revision: Sustainable Development

Geoff Riley

20th May 2009

The term ‘sustainable’ means ‘enduring’ and ‘lasting’ and ‘to keep in being’. According to one of the finest environmental economists of his generation, the late David Pearce, sustainable development means that each generation should pass on at least as much “capital” as it inherits, the Pearce approach defines capital in broad terms, to include physical capital (machinery and infrastructure); intellectual capital (knowledge and technology) and also environmental capital (environmental quality and the stock of natural resources).

In 1987 the Brundtland Commission on Environment and Development defined sustainable development as: “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. The current Government supports the concept of sustainable development and focuses on four main objectives set out below:

(1) Social progress which recognises the needs of everyone: Everyone should share in the benefits of increased prosperity and a clean and safe environment. Needs must not be met by treating others, including future generations and people elsewhere in the world, unfairly.

(2) Effective protection of the environment: We must limit global environmental threats, such as climate change to protect human health and safety from hazards such as poor air quality and toxic chemicals and to protect things which people need or value, such as wildlife, landscapes and historic buildings.

(3) Prudent use of natural resources: We need to make sure that non-renewable resources are used efficiently and that alternatives are developed to replace them in due course. Renewable resources, such as water, should be used in ways that do not endanger the resource or cause serious damage or pollution.

(4) Maintenance of high and stable levels of economic growth and employment, so that everyone can share in high living standards and greater job opportunities.
Growing interest in the impact of economic activity on our natural and man-made resource base has led to the development of concepts such as ecological footprints and carbon footprints.

Many environmentalists are inherently cautious about the long term impact of growth on our living environment. They are deeply sceptical about the effects that growth might have in preserving and or improving it. But others argue that the pessimists are over-stretching their case. Bjorn Lomborg in “The Sceptical Environmentalist” challenges beliefs that the environmental situation is getting worse and worse.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

You might also like

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.