FWR Group Sustainability Articles
Why is sustainable development important?
The concept of sustainable development arose from a number of environmental movements in previous decades but it wasn’t actually defined until 1987 by the World Commission on Environment and Development (also known as the Bruntland Commission). They described sustainable development as ‘development that meets the needs of the present without compromising the ability of future generations to meet their own needs.’ This definition highlighted the importance of environmental, social and economic factors when considering development. It also emphasised the need for the elevation of poverty and a drive towards greater equality around the world, all within the limits of the planet’s finite resources.
Why is sustainable development important? Since its conception in 1987 the world’s nations have been discussing the need for greater sustainable development in all countries. This need has arisen for the increase in environmental problems as a result of rapid development since the Industrial Revolution. Many of the planet’s ecosystems are degraded, species are threatened and global warming is becoming increasingly apparent. To slow the damage caused by human development, it is essential that our actions become more sustainable.
Within sustainable development there are two main streams, weak and strong sustainability. Weak sustainability refers to the ability of social, economic and cultural values to be substituted for environmental values. It can also be described in terms of the replacement of natural capital with manufactured capital. In contrast strong sustainability does not allow any substitution and requires the maintenance of existing natural capital as manufactured capital cannot perform the necessary functions provided by nature.
Sustainable development is now a requirement of the Kyoto Protocol (KP), an agreement signed and ratified by Australia and another 186 other countries around the world. The Clean Development Mechanism (CDM), part of the KP, is available to Annex 2 nations and is designed to facilitate sustainable development within new expansion projects. To assist this process Annex 1 countries will share technology and expertise with less developed countries to ensure their development becomes more sustainable. A CDM allows an Annex 1 nation to offset their carbon emissions by providing a more economical option within a less developed State. Common examples of CDM are the installation of scrubbers in power plants that reduce the amount of harmful emissions released into the atmosphere.
