Economic sustainability

Ecological economics It has been suggested that because of rural poverty and overexploitationenvironmental resources should be treated as important economic assets, called natural capital. This model of unlimited personal and GDP growth may be over.

Economic sustainability

Sustainable development The name sustainability is derived from the Latin sustinere tenere, to hold; sub, under. Sustain can mean "maintain", "support", or "endure". One such pillar is future generations, which emphasizes the long-term thinking associated with sustainability.

A study from pointed out that environmental justice is as important as sustainable development. The simple definition that sustainability is something that Economic sustainability "the quality of human life while living within the carrying capacity of supporting eco-systems", [34] though vague, conveys the idea of sustainability having quantifiable limits.

But sustainability is also a call to action, a task in progress or "journey" and therefore a political process, so some definitions set out common goals and values. More than that, sustainability implies responsible and proactive decision-making and innovation that minimizes negative impact and maintains balance between ecological resilience, economic prosperity, political justice and cultural vibrancy to ensure a desirable planet for all species now and in the future.

More recently, using a systematic domain model that responds to the debates over the last decade, the Circles of Sustainability approach distinguished four domains of economic, ecological, political and cultural sustainability ; [42] this in accord with the United NationsUnescoAgenda 21and in particular Economic sustainability Agenda 21 for culture which specifies culture as the fourth domain of sustainable development.

Rather, it involves treating all four domains—economy, ecology, politics and culture—as social including economics and distinguishing between ecology as the intersection of the human and natural worlds and environment as that which goes far beyond what we as humans can ever know.

Human sustainability can be achieved by attaining sustainability in all levels of the seven modalities.

Shaping the future[ edit ] Integral elements of sustainability are research and innovation activities. A telling example is the European environmental research and innovation policy. It aims at defining and implementing a transformative agenda to greening the economy and the society as a whole so to make them sustainable.

Research and innovation in Europe are financially supported by the programme Horizonwhich is also open to participation worldwide.

Additionally, instigating innovative and sustainable travel and transportation solutions must play a vital role in this process. Resilience-thinking evolved from the need to manage interactions between human-constructed systems and natural ecosystems in a sustainable way despite the fact that to policymakers a definition remains elusive.

It is also concerned with commitment from geopolitical policymakers to promote and manage essential planetary ecological resources in order to promote resilience and achieve sustainability of these essential resources for benefit of future generations of life? In nature, the accounting occurs naturally through a process of adaptation as an ecosystem returns to viability from an external disturbance.

The adaptation is a multi-stage process that begins with the disturbance event earthquake, volcanic eruption, hurricane, tornado, flood, or thunderstormfollowed by absorptionutilizationor deflection of the energy or energies that the external forces created. History of sustainability The history of sustainability traces human-dominated ecological systems from the earliest civilizations to the present day.

Coal was used to power ever more efficient engines and later to generate electricity.

Economic sustainability refers to practices that support long-term economic growth without negatively impacting social, environmental, and cultural aspects of the community. Aug 06,  · Economic sustainability applies to the state of natural and design systems. At its heart, economics is the study of making decisions under scarcity. Until this point and likely into the near future, economic decisions were based on the most efficient use of resources relative to the designed environment, even though these resources. Oct 24,  · Economic sustainability is the term used to identify various strategies that make it possible to use available resources to their best advantage. The idea is to promote the use of those resources in a way that is both efficient and responsible, and likely to provide long-term benefits.

Modern sanitation systems and advances in medicine protected large populations from disease. In the late 20th century, environmental problems became global in scale.

In the 21st century, there is increasing global awareness of the threat posed by the human greenhouse effectproduced largely by forest clearing and the burning of fossil fuels.

The focus ranges from the total carrying capacity sustainability of planet Earth to the sustainability of economic sectors, ecosystems, countries, municipalities, neighbourhoods, home gardens, individual lives, individual goods and services[ clarification needed ], occupations, lifestyles, behaviour patterns and so on.

In short, it can entail the full compass of biological and human activity or any part of it.

Sustainable development - Wikipedia

To shed light on the big picture, explorer and sustainability campaigner Jason Lewis has drawn parallels to other, more tangible closed systems. The environmental impact of a community or of humankind as a whole depends both on population and impact per person, which in turn depends in complex ways on what resources are being used, whether or not those resources are renewable, and the scale of the human activity relative to the carrying capacity of the ecosystems involved.

Careful resource management can be applied at many scales, from economic sectors like agriculture, manufacturing and industry, to work organizations, the consumption patterns of households and individuals and to the resource demands of individual goods and services.

This formulation attempts to explain human consumption in terms of three components: The equation is expressed: The most prominent among these concepts might be the Circular Economywith its comprehensive support by the Chinese and the European Union. There is also a broad range of similar concepts or schools of thought, including cradle-to-cradle laws of ecology, looped and performance economy, regenerative design, industrial ecology, biomimicry, and the blue economy.

Economic sustainability

These concepts seem intuitively to be more sustainable than the current linear economic system. The reduction of resource inputs into and waste and emission leakage out of the system reduces resource depletion and environmental pollution.

Economic sustainability

However, these simple assumptions are not sufficient to deal with the involved systemic complexity and disregards potential trade-offs. For example, the social dimension of sustainability seems to be only marginally addressed in many publications on the Circular Economy, and there are cases that require different or additional strategies, like purchasing new, more energy efficient equipment.

Sustainability measurement Sustainability measurement is the quantitative basis for the informed management of sustainability. They are applied over a wide range of spatial and temporal scales. Companies such as Lieef www.Aug 06,  · Economic sustainability applies to the state of natural and design systems.

At its heart, economics is the study of making decisions under scarcity. Until this point and likely into the near future, economic decisions were based on the most efficient use of resources relative to the designed environment, even though these resources.

The metrics used for the measurement of sustainability (involving the sustainability of environmental, social and economic domains, both individually and in various combinations) are evolving: they include indicators, benchmarks, audits, sustainability standards and certification systems like Fairtrade and Organic, indexes and accounting, as.

Overall, and in the long run, sustainable development in the field of energy is also deemed to contribute to economic sustainability and national security of communities, thus being increasingly encouraged through investment policies. The Sustainable Communities Network website connects citizens with the resources they need to implement innovative processes and programs to restore the economic, environmental, and social health and vitality of their communities.

It addresses a wide range of issues related to community sustainability, including creating communities, smart growth, growing a sustainable economy, protecting. Definition of economic sustainability: The use of various strategies for employing existing resources optimally so that that a responsible and beneficial balance can be achieved over the longer term.

Within a business context, economic. Oct 24,  · Economic sustainability is the term used to identify various strategies that make it possible to use available resources to their best advantage. The idea is to promote the use of those resources in a way that is both efficient and responsible, and likely to provide long-term benefits.

Sustainability - Wikipedia