Although some may not focus on environmental issues as a consequence of growth, saying that growth is paramount, we must realize that degradation of the resource base will eventually put economic activity itself at risk, in turn affecting growth. Therefore, Developing Countries face the challenge of whether to follow the path of the more Developed Nations or alternatively, do we focus on Conservation. However, for every problem, there is a solution. The International community has realized the need for a strategic comprehensive approach to address environmental protection, while at the same time foster development.
As such, this ultimate goal can be achieved through the implementation of Sustainable Development. Sustainable Development, therefore, aims to meet present needs and address short-term issues with the overall goal of long-term Sustainability.
Therefore, Sustainable Development is an integrated concept that:. Requires meeting the basic needs towards the aspiration for a better-improved quality of life. Is based on democracy, where the rule of law is grounded in the respect of fundamental rights.
Promotes employment in an economy, whose strength is based on education, innovation, social cohesion, and the protection of human health and the environment EEA.
Accordingly, the implementation of Sustainable Development will require progress in three areas, well known as the three 3 pillars of Sustainable Development, which are Environment, Economic, and Social.
These three fundamental pillars are interconnected, so much so, that the actions in one area can reinforce the goals of another. Thus, this indicates the importance and overall goal of achieving integration and a balance between the three pillars of Sustainable Development. Accordingly, in striving for a balance between the pillars, we are in essence trying to achieve sustainability, endeavoring to be:.
In that, we are cognizant of our impact and thereafter contribute towards a healthier environment and well-being. Thus, by having equitable distribution, we help to eradicate poverty, social inequality and raise the standard of living of the society.
Therefore, investments must be feasible to sustain themselves, create jobs, contribute to the GDP, and protect the environment from harm.
Thus, to achieve sustainability, we must find a balance between the three pillars in relation to being viable, equitable, and bearable. This in turn helps a nation to develop and meet short-term horizons, with long-term vision.
In the face of environmental degradation, the COVID pandemic is threatening generations of progress on poverty, with the worst-case scenarios estimating an additional million people living in extreme poverty by the end of the year. Despite these setbacks, improving economic recovery remains the only way out. The last four decades have increased global prosperity and improved the livelihoods of hundreds of millions of people around the world.
China is the most striking example of how growth reduces poverty. But it is not an isolated example. Since the onset of the COVID pandemic, poverty indicators have considerable worsened, and for roughly half the countries in sub-Saharan Africa, extreme poverty is on the rise. While inequality is a pressing issue in many developing and developed countries and should be a policy focus, focusing solely on reducing inequality would be insufficient to reduce poverty significantly.
Low-income and lower-middle-income countries LMICs drastically need growth. And not growth in terms of boosting macroeconomic indicators, but growth as a series of structural transformations that lead to sustained increases in the productivity of workers and firms.
Growth should not be an end product or a numeric target but an inclusive process, one that unlocks the economic potential of everyone. When a large number of people develop firms, when well-paying jobs are created, when workers gain new skills, when cities expand and exports grow, the social and economic well-being of millions of people improve.
Triggering the growth process in LMICs is not a new challenge. However, the global challenges raised by the depletion of natural resources, damages to biodiversity, local pollution, and climate change highlight the tension that exists between growth and the externalities it generates. We need an inclusive pathway that delivers the economic growth and poverty reduction that developing countries critically need, while minimising negative impacts on current and future generations — we need sustainable growth.
Leapfrogging from subsistence agriculture to more productive sectors is necessary to raise incomes and make people less vulnerable to weather shocks and environmental catastrophes.
Historically, this transition has always occurred with simultaneous increases in energy consumption and greenhouse gas GHG emissions. Taking countries which have experienced high growth over the past decades, the figure below illustrates how increases in income have been accompanied by increases in CO2 emissions per capita. Thus far, structural transformation has mostly been powered by fossil fuels, but new technologies may allow increases in productivity while minimising the impact on the environment and lead the way for sustainable growth.
The past and current contributions of LMICs to the current CO2 atmospheric concentrations, however, are only a drop in the ocean. But, if the high-income countries that have contributed the most to historic emissions such as those in Europe and the US abide by their Nationally Determined Contributions NDCs in the Paris Agreement by , LMICs could contribute a sizable amount to global emissions by that time.
The choices made today by LMICs, where most of the increase in energy consumption in the coming decades will stem from , will impact GHG emissions in the future. Additionally, the need to act on mitigation policies in LMICs should be motivated by more than their future responsibility for global CO2 emissions.
They are a technology company with a strong value proposition and service offering. But while the business model is scalable, it lacks a strong foundation from which to confidently invest in its growth.
This slows down growth and makes it difficult to consistently service clients, design a workplace culture that can help employees thrive, build the right teams to increase productivity, and form the external partnerships to make the right strategic decisions to create a billion dollar organization.
This scenario is all too common and many CEOs — whether small business or Fortune — are often faced with this dilemma. Unfortunately, many business leaders think only about the here and now — rather than focusing on the potential for future growth and sustainability. They find themselves growing complacent — rather than thinking about how to solve for the issues at hand.
Building a strong business model and value proposition is not enough; if operational infrastructure, decision-making and leadership are weak, this does not provide for a sustainable long-term growth solution. Before your business can grow and sustain its momentum, you must take action in support of the following six things to assure your company builds a strong foundation for long term success:. Reassess your talent and ask yourself this question: Is your current talent pool servicing your clients and identifying the right opportunities to create and sustain business growth?
Are they enabling their passionate pursuits in search of endless possibilities in their work? Take this quiz and see if your teams are able to effectively see, sow, grow and share opportunities in their work. If you score over 35, you are in good shape. If not, you have some work to do. Efficiencies drive costs down and embed a mindset within the workplace culture that makes people sensitive to costs and ways to streamline how the organization communicates, operates and connects the dots of opportunities.
This helps to assure that activities within the organization are in alignment with the needs of the business to create and sustain growth. The best way to create operational efficiencies is to assure that the workplace culture supports the tools to drive efficiencies within the organization — by design — not by accident. To learn more, here are six organizational values to create and sustain growth through an efficiencies-driven mindset.
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