Article on sustainability challenge
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The challenge of sustainable development is the challenge of achieving environmental conservation and resource management without compromising the targets of growth and development. It is therefore a process of making human and environmental regeneration not only an end of economic growth but also a means. It redefines wealth and restructures qualitative development in economic growth policies. Sustainable development is in itself revolutionary since it replaces exchange value by intrinsic value, market regulation by self-regulation and capital accumulation with de-accumulation. It is an effort and a design to raise poor countries of the world from social decadence, exploitation, global inequity and waste.
Many questions intrigue the concept of sustainable development; Is economic growth possible without destroying our environment? What supports sustainable economic growth? What are the major contentious issues involved in sustainable economic growth? Does sustainable economic growth affect stock market gains? Can developed countries continue with their consumption patterns without damaging the planet’s ability to sustain life? These are perplexing questions that have become crucial to the international debates and political battles.
The major problem the world faces is still the intractable problem of poverty and hunger. Achieving food security requires more than just production of food. Overall perspectives of economic development are being increasingly seen as a better promoter of food security than food production alone. But this cannot be achieved without firm knowledge. Action upon land and water is an unavoidable part of any economic policy. Thus economic development and food security require knowledge-based firm action upon land and water and indeed on all natural resources. Accordingly Natural Resource Management (NRM) is one of the biggest issues in sustainable development. For example, land degradation, desertification, loss of wetlands and deforestation are very real constraints to the future sustainability of good agriculture everywhere in the world.
However, as we enter the 21st century, we have begun to face a new sustainability challenge in business and trade. The growth of Trans National Corporations (TNCs) have taken control of resource policies in the world. These TNCs have changed the contours of the welfare state and Keynesian economics. Since TNCs bring Foreign Direct Investment (FDI), the poor countries are making extensive regulatory changes in their economic resources policies to make themselves appear attractive investment areas for FDI. Policies that might ensure sustainable use of resources are being changed for better business and FDI. This large company and TNC based development has been so rapid that by mid 1990s we were faced with an alarming and the stupefying statistics. In 1995 the United Nations Conference on Trade and Development (UNCTAD) study found that 40,000 corporations in all, controlled two-thirds of the total world trade in goods and services. According to a report:
Of the world’s largest economies, 51 are corporations. Only 49 are countries. The budget of Mitsubishi Corporation is larger than that of Indonesia, the world’s fourth most populous country and a land of enormous natural wealth.
The combined sales of the world’s top 200 corporations are equal to 28 percent of the world’s Gross Domestic Product (GDP).
These same 200 corporations employ only 18.8 million people, less than one third of 1 percent of the world’s people- and the downsizing continues.
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The Sustainability Challenge: Ecological and Economic Development. ... This surprising action stemmed from OK's development of a high-octane (98) lead-free automobile fuel, which burned cleaner than other fuels while still maintaining high performance.
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