Alejandro Salvador Pérez is going to talk about sustainable economic growth, its meaning, why it is so important, advantages and disadvantages and how some organizations make sustainable economic growth possible.
What’s the meaning of sustainable economic growth?
Sustainable economic growth means a rate of growth which can be maintained without creating other significant economic or environmental problems, especially for future generations.
Why is sustainable economic growth so important?
Some advantages of a sustainable economic growth are that it decreases environmental pollution and improves the quality of soil, water and air.
Sustainable economic growth can stop global warming and the loss of biodiversity,
Another advantage is the creation of new industries, which means more employment and more quality of life, and finally, guarantee of a better future.
Now we are talking about some disadvantages:
One big disadvantage is the cost of a sustainable economic growth, other is that it could be unemployment in some areas. Changes to preserve and care for ecosystems and biodiversity can cause several industries to reduce their activities or, in the last case, stop them altogether. This can bring unemployment for many people who have dedicated their whole lives to work in a single sector, such as the coal industry.
The most important question is that we have to choose because most of the pollution, nowadays, is caused by economic growth. Output and consumption, we are likely to see costs imposed on the environment. The environmental impact of economic growth includes the increased consumption of non-renewable resources, higher levels of pollution, global warming and the potential loss of environmental habitats.
There is an actual relationship between consumer goods and the environment. If you decide to produce and to employ more consumer goods, the environment will be harmed, but if you decide to have less consumer goods, the environment will be benefited. It means that we need to decide.
Luckily, there are some organizations that made movements against economic growth and in favor of sustainable economic growth.
Related to movements that are in favor of sustainable economic growth, we found the 2019 Sustainable Development Summit.
In September 2019, Heads of State and Government gathered at UN Headquarters in New York for the Sustainable Development Summit to follow up and comprehensively review progress in the implementation of the 2030 Agenda for Sustainable Development and the 17 Sustainable Development Goals (SDGs). The event was the first UN summit on the SDGs since the adoption of the 2030 Agenda in September 2015.
Finally, we must not forget some ways to achieve sustainable economic growth and save water. Businesses can be some of the biggest offenders in the wastage of water, so when they take the lead in water conservation, they can make a huge impact on awareness in their communities.
Another way is to provide a healthy workplace, it is essential to ensure that people have a workplace conducive to maintaining good health.
Another way is to invest in renewable energy. More and more people are packing into urban areas each year. The sustainability of cities is vital to the future of humanity, but they are eating up our consumable natural resources. Being big consumers of energy, businesses can help by taking the lead on the rank of Sustainable Cities and Communities. Invest in renewable energy resources such as solar, wind, and biofuel. By joining initiatives such as the UN Global Compact, you can be one of the businesses to lead the charge toward a more sustainable future.
In conclusion, I think that sustainable economic growth is so important for our planet, especially thinking about the future, but it is quite difficult to achieve.