The equilibrium of sustainable development 

Sophie Kieselbach gives insights into the meaning of sustainable development – economic, social, and environmental sustainability – and how they have changed over time.

By Sophie Kieselbach

 

Sustainability has the goal of allowing humanity to exist on Earth for a long time. Thus sustainable development is a concept that aims to balance economic growth with environmental protection and social well-being. It was officially formalized in the 1980s by the Brundtland report, and since then, the definition of sustainable development has evolved to encompass a broader range of issues and concerns. This article will explore the meaning of sustainable development – economic, social, and environmental sustainability – and how it has changed over time. 

 

The three pillars model

Economic sustainability 

Economic sustainability is about creating and maintaining a strong economy that can provide jobs and income for people while also being sustainable in the long term. In the past, economic sustainability was primarily focused on traditional economic indicators such as GDP. However, over time, the definition of economic sustainability has expanded to include more than just financial growth. 

Today, economic sustainability includes factors such as resource efficiency, circular economy models, and the promotion of sustainable business practices. Resource efficiency refers to the efficient use of natural resources, while circular economy models aim to reduce waste and create a closed-loop system where resources are reused and recycled. Sustainable business practices include reducing energy consumption, using renewable energy, and reducing waste. 

 

Social sustainability 

Social sustainability focuses on creating a society that is fair, just, and inclusive for everyone. This includes ensuring that people have access to basic needs such as food, shelter, healthcare, education, and social services. In the past, social sustainability was primarily focused on meeting basic needs. However, over time, the definition of social sustainability has expanded to include more complex issues. 

Today, social sustainability includes issues such as human rights, child labor, gender equality, diversity, and inclusion. Gender equality refers to equal rights and opportunities for women and men. Diversity and inclusion refer to creating a workplace or society where everyone feels valued and included, regardless of their race, gender, or background. Human rights refer to the fundamental rights and freedoms that every person is entitled to, such as the right to life, liberty, and security. 

 

Environmental sustainability 

Environmental sustainability is about protecting our planet’s natural resources and ecosystems. This includes minimizing pollution, conserving biodiversity, and reducing carbon emissions. In the past, environmental sustainability was primarily focused on reducing pollution and protecting wildlife. 

However, over time, the definition of environmental sustainability has expanded to include the need to address climate change and other important issues, such as biodiversity loss. Today, it is widely recognized that economic and social sustainability cannot be achieved without also protecting the natural systems upon which we all depend. 

 

Evolution of the sustainable development-model 

The connection between the three pillars of sustainable development – economic, social, and environmental sustainability – has evolved over time as our understanding of sustainable development has grown. 

Initially, sustainable development was seen as a trade-off between economic growth and environmental protection. This meant that policies focused on protecting the environment often came at the expense of economic growth, and vice versa. However, over time, it became clear that social sustainability was also a critical component of sustainable development. 

As a result, the connection between the three pillars of sustainable development shifted from a trade-off between economic growth and environmental protection to a more integrated approach that recognizes the interconnectedness of economic, social, and environmental sustainability. This approach recognizes that economic growth and environmental protection are not mutually exclusive, and that social sustainability is also essential for achieving sustainable development. 

In 2012 an Oxfam report published the concept of the doughnut economy which consists of two concentric rings: the social foundation, which should guarantee that basic human rights and needs are covered and an ecological ceiling, which states that planetary boundaries exist. Between these two rings humanity can thrive economically on a long term basis. (About Doughnut Economics | DEAL 

This way of thinking is also reflected in todays concept of sustainability. The environment is the foundation of sustainable development. It is the basis of all life, and without a healthy environment, economic and social sustainability cannot be achieved. Therefore, the environment determines the limit in which our society can grow socially and economically, as it provides the natural resources and ecological services that support all economic and social activity. 

 

What does this mean for businesses? 

Since the concept of sustainable development emerged in the 1980s as a response to growing concerns about the negative impacts of economic growth and development on the environment and society, the understanding of sustainable development has expanded to include not only environmental and economic concerns but also social and cultural dimensions. Today’s view is based on the knowledge that a healthy ecosystem is crucial for society and the economy to thrive. Achieving sustainable development requires balancing all three dimensions, as they are all interconnected. 

To achieve sustainable development, it is necessary to address the root causes of environmental degradation, social inequality, and economic instability. This requires a holistic and long-term approach that considers the interactions and trade-offs between different aspects of sustainability, and involves collaboration between governments, businesses, civil society, and individuals. It requires innovation and creativity to develop new technologies and practices that can promote sustainable growth and development.  

Integrating this mindset into the business and basing all decision making on hard facts will enable businesses to contribute to a sustainable society.  

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