Environmental Sustainability and Economy

Singh, Pardeep [Delhi University, India] Verma, Pramit [Delhi University, India] Perrotti, Daniela [UCL] Srivastava, K. K. [Delhi University, India]

Decoupling the negative effects of economic growth is imperative for sustainable development. However, the present situation does not bode well for achieving such absolute decoupling. Sustainable development was envisaged as a long-term process to ensure future liveability of humans by the balanced use of resources today. Here growth and development were combined together with sustainability principles. However, about half a decade after the adoption of Sustainable Development Goals, certain issues have emerged. Critics argue that economic growth cannot be viable with environmental protection measures. Others argue that the growth of the economy cannot increase the well-being of those who already enjoy the highest standard of living. These facts suggest that the negative effects of economic growth outweigh the positive effects in already developed countries. Further, economic growth could be a driver of sustainability in developing and least developed countries. The question of equality and accessibility to goods and services also determine the extent of economic benefits for social sustainability. The 21st century has seen the rise of complex and multi-dimensional pathways between different aspects of sustainability. Due to globalization, these relationships now work at varying spatio-temporal scales resulting in global and regional dynamics. With this background we have explored the complex relationship between sustainable development and economic growth, linking the environmental and social with the economic pillar of sustainable development. The book aims to strengthen the existing conceptual knowledge as well as serve as guide for future research in this field.