Importance of Sustainable Development
Description:
Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for future generations. The term was used by the Brundtland Commission which coined what has become the most often-quoted definition of sustainable development as development that "meets the needs of the present without compromising the ability of future generations to meet their own needs."
As corporates' sustainable development becomes important, this is becoming one of biggest new service offerings of consulting firms.
Enablers:
1. Global warming and Increase of natural disasters
2. Increase of governments' demand
3. Inceasting power of NGOs
Inhibitors:
1. Milton Friedman and his followers (for Corporate Social Responsibilities)
2. Power of stakeholders
Paradigms:
For companies, Profitable growth is not the only purpose of the business. Companies should not only consider economic development but also environmental and socialy development.
Experts:
Edward Barbier (Economist, Firstly used The Venn diagram of sustainable development)
Timing:
- In 1987, the United Nations released the Brundtland Report, which defines sustainable development as 'development which meets the needs of the present without compromising the ability of future generations to meet their own needs
- In 2005, The United Nations World Summit Outcome Document refers to the "interdependent and mutually reinforcing pillars" of sustainable development as economic development, social development, and environmental protection.
Web Resources:
[1] United Nations. 1987."Report of the World Commission on Environment and Development." (http://www.un.org/documents/ga/res/42/ares42-187.htm) General Assembly Resolution 42/187, 11 December 1987. Retrieved: 2010-08-19
[2] http://en.wikipedia.org/wiki/Corporate_social_responsibility
[3] http://en.wikipedia.org/wiki/Sustainable_development