ISSUES

THE PRINCIPLES OF SUSTAINABLE DEVELOPMENT

PROSPERITY (Economic system)

The economic aspects of sustainable development requires the development of an economic system that facilitates equitable access to resources and opportunities and the fair sharing of finite ecologically productive space; enables sustainable livelihoods; and establishes viable businesses and industries based on sound ethical principles. The focus is on creating prosperity for all, not just profits for a few, and to do this within the bounds of the ecologically possible and without infringing on basic human rights. To achieve this, the following principles need to be followed:

Promote equity within countries, between nations, and between generations.
Encourage ethical business practices such as fair trade.
Encouraging social and environmentally responsible business initiatives and investment policies.
Promote an equitable distribution of true costs and benefits so that one group is not impoverished or otherwise harmed to enrich another.
Support local economies and local job creation through practices such as local economic development, SMME development, local beneficiation of raw materials and "local is lekker" consumption.
Facilitate co-operative economies and business clustering to empower small businesses.
Enable collective economic security systems such as Local Exchange and Trade Systems (LETS), community financing and savings schemes, and co-operative projects.
Measure business success by the triple bottom line of profit, social responsibility and environmental responsibility.

[Back to top]