The concept of economically sustainable development has gained prominence in global discussions about the future of the planet. This development model aims to balance economic growth with environmental preservation and social equity. According to the International Renewable Energy Agency (IRENA), the transition to a green economy is not only necessary but also feasible and beneficial for everyone.
The definition of sustainable development was established by the Brundtland Commission in 1987, describing it as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” This concept applies not only to the use of natural resources but also to the creation of policies and practices that promote social justice and long-term economic viability.
According to the United Nations (UN), the Sustainable Development Goals (SDGs) established in 2015 serve as a guideline for countries to implement sustainable practices. Achieving these goals can lead to a significant reduction in global poverty, improving health and well-being of populations, and promoting a more inclusive and resilient economy.
The Role of Renewable Energy
Renewable energy plays a crucial role in economically sustainable development. According to IRENA, global installed renewable energy capacity increased by 8% in 2022, reaching over 3,000 gigawatts. This growth is driven by the declining costs of technologies such as solar and wind, which have become more competitive compared to fossil energy sources.
Moreover, the transition to renewable energy can create jobs and stimulate the economy. IRENA’s “Renewable Energy and Jobs – Annual Review 2023” report estimates that the renewable energy sector currently employs about 12 million people worldwide. This number is expected to increase as more countries adopt clean energy support policies.
Studies indicate that renewable energy also contributes to reducing greenhouse gas emissions. A report by the International Energy Agency (IEA) highlights that to limit global warming to 1.5°C, global CO2 emissions need to fall by about 45% by 2030. The expansion of renewable energy is essential to achieve this goal, helping to mitigate the impacts of climate change.
Circular Economy and Sustainability
Eva Energia is an example of a company that adopts circular economy principles to enhance its sustainability. It uses organic waste to produce biogas, a renewable energy source. This practice not only reduces the amount of waste sent to landfills but also provides a clean and renewable energy source, promoting a sustainable cycle of production and consumption.
A study by consultancy McKinsey & Company estimates that adopting circular economy practices in the European Union could result in savings of €1.8 trillion by 2030. Furthermore, the transition to a circular economy could create millions of new jobs in sectors such as recycling, remanufacturing, and maintenance.
Sustainable Agriculture and Food Security
Sustainable agriculture is essential to ensure global food security and protect natural resources. According to the UN Food and Agriculture Organization (FAO), sustainable agricultural practices can increase productivity, improve resilience to climate change, and preserve biodiversity. The FAO highlights that about 80% of the world’s agricultural land is small-scale, operated by small farmers who rely on sustainable practices to survive.
The adoption of innovative technologies, such as precision agriculture and biotechnology, is transforming the agricultural sector. According to Global Market Insights, the global precision agriculture market is expected to grow at an annual rate of 14% by 2027, driven by the demand for efficiency and cost reduction. These technologies allow more efficient use of resources such as water and fertilizers and help minimize the environmental impacts of agriculture.
Agroforestry initiatives, which combine trees and agricultural crops, are also gaining popularity. Studies indicate that these practices can increase crop productivity, improve soil health, and capture carbon, contributing to climate change mitigation. Organizations such as the World Agroforestry Centre are promoting the adoption of agroforestry in vulnerable regions, helping communities become more resilient and sustainable.
The Future of Sustainable Development
Economically sustainable development is a complex challenge that requires the collaboration of governments, businesses, and civil society. Investing in renewable energy, promoting the circular economy, adopting sustainable agricultural practices, and implementing inclusive policies are crucial steps to achieve a sustainable future.
Studies by the International Labour Organization (ILO) suggest that the transition to a green economy could create up to 24 million new jobs worldwide by 2030. This growth will be driven by sectors such as renewable energy, energy efficiency, and waste management. However, it is essential to ensure that this transition is just and inclusive, providing opportunities for all.
The implementation of effective public policies and the mobilization of investments in sustainable infrastructure are fundamental to accelerate this transition. Reports from the World Economic Forum (WEF) indicate that integrating environmental, social, and governance (ESG) criteria into business strategies can improve financial performance and strengthen companies’ resilience.
The path to economically sustainable development is full of challenges but also opportunities. By adopting sustainable practices, we can ensure a prosperous and balanced future for future generations, preserving the planet’s resources and promoting a more just and inclusive economy.
