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Written by wujinon   
Wednesday, 30 January 2008
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What is Sustainability?
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  • In the Brundtland report [1], sustainability or sustainable development is defined as "the development that meets the needs of the present without compromising the ability of the future generations to meet their own needs".
  • It is commonly agreed that sustainability has three dimensions: Social, Ecological (Environment) and Economic. Stiglitz [2] best sums up the three dimensions in the sustainability below:
  •  
Sustainability development is “the optimal growth path that maintains economic development while protecting the environment and optimizing the social conditions with the boundary of relying on limited, exhaustible natural resources.”

  
  • [1] Brundtland Report: World Commission on Environment and Development (1987): Our common future. Oxford University Press, Oxford.
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  • [2]Stiglitz, J. (1974): Growth with exhaustible natural resources: Efficient and optimal growth paths. Review of Economic Studies Symposium, 139–152.

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