Sustainable development themes
The United Nations Conference on Sustainable Development (UNCSD; also known as Rio 2012) was the third international conference on sustainable development, which aimed at reconciling the economic and environmental goals of the global community. An outcome of this conference was the development of the Sustainable Development Goals that aim to promote sustainable progress and eliminate inequalities around the world. However, few nations met the World Wide Fund for Nature's definition of sustainable development criteria established in 2006. Although some nations are more developed than others, all nations are constantly developing because each nation struggles with perpetuating disparities, inequalities and unequal access to fundamental rights and freedoms.
In 2007 a report for the U.S. Environmental Protection Agency stated: "While much discussion and effort has gone into sustainability indicators, none of the resulting systems clearly tells us whether our society is sustainable. At best, they can tell us that we are heading in the wrong direction, or that our current activities are not sustainable. More often, they simply draw our attention to the existence of problems, doing little to tell us the origin of those problems and nothing to tell us how to solve them." Nevertheless, a majority of authors assume that a set of well defined and harmonised indicators is the only way to make sustainability tangible. Those indicators are expected to be identified and adjusted through empirical observations (trial and error).
The most common critiques are related to issues like data quality, comparability, objective function and the necessary resources. However a more general criticism is coming from the project management community: How can a sustainable development be achieved at global level if we cannot monitor it in any single project?
The Cuban-born researcher and entrepreneur Sonia Bueno suggests an alternative approach that is based upon the integral, long-term cost-benefit relationship as a measure and monitoring tool for the sustainability of every project, activity or enterprise. Furthermore, this concept aims to be a practical guideline towards sustainable development following the principle of conservation and increment of value rather than restricting the consumption of resources.
Reasonable qualifications of sustainability are seen U.S. Green Building Council's (USGBC) Leadership in Energy and Environmental Design (LEED). This design incorporates some ecological, economic, and social elements. The goals presented by LEED design goals are sustainable sites, water efficiency, energy and atmospheric emission reduction, material and resources efficiency, and indoor environmental quality. Although amount of structures for sustainability development is many, these qualification has become a standard for sustainable building.
Recent research efforts created also the SDEWES Index to benchmark the performance of cities across aspects that are related to energy, water and environment systems. The SDEWES Index consists of 7 dimensions, 35 indicators, and close to 20 sub-indicators. It is currently applied to 58 cities.
The sustainable development debate is based on the assumption that societies need to manage three types of capital (economic, social, and natural), which may be non-substitutable and whose consumption might be irreversible. Leading ecological economist and steady-state theorist Herman Daly, for example, points to the fact that natural capital can not necessarily be substituted by economic capital. While it is possible that we can find ways to replace some natural resources, it is much more unlikely that they will ever be able to replace eco-system services, such as the protection provided by the ozone layer, or the climate stabilizing function of the Amazonian forest. In fact natural capital, social capital and economic capital are often complementarities. A further obstacle to substitutability lies also in the multi-functionality of many natural resources. Forests, for example, not only provide the raw material for paper (which can be substituted quite easily), but they also maintain biodiversity, regulate water flow, and absorb CO2.
Another problem of natural and social capital deterioration lies in their partial irreversibility. The loss of biodiversity, for example, is often definitive. The same can be true for cultural diversity. For example, with globalisation advancing quickly the number of indigenous languages is dropping at alarming rates. Moreover, the depletion of natural and social capital may have non-linear consequences. Consumption of natural and social capital may have no observable impact until a certain threshold is reached. A lake can, for example, absorb nutrients for a long time while actually increasing its productivity. However, once a certain level of algae is reached lack of oxygen causes the lake's ecosystem to break down suddenly.
If the degradation of natural and social capital has such important consequence the question arises why action is not taken more systematically to alleviate it. Cohen and Winn point to four types of market failure as possible explanations: First, while the benefits of natural or social capital depletion can usually be privatised, the costs are often externalised (i.e. they are borne not by the party responsible but by society in general). Second, natural capital is often undervalued by society since we are not fully aware of the real cost of the depletion of natural capital. Information asymmetry is a third reason—often the link between cause and effect is obscured, making it difficult for actors to make informed choices. Cohen and Winn close with the realization that contrary to economic theory many firms are not perfect optimisers. They postulate that firms often do not optimise resource allocation because they are caught in a "business as usual" mentality.
Education must be revisited in light of a renewed vision of sustainable human and social development that is both equitable and viable. This vision of sustainability must take into consideration the social, environmental and economic dimensions of human development and the various ways in which these relate to education: ‘An empowering education is one that builds the human resources we need to be productive, to continue to learn, to solve problems, to be creative, and to live together and with nature in peace and harmony. When nations ensure that such an education is accessible to all throughout their lives, a quiet revolution is set in motion: education becomes the engine of sustainable development and the key to a better world.’
Higher education in sustainability across education streams including engineering, finance, supply chain and operations is gaining weight-age. Multiple institutes including Wharton, Columbia, CASI Global New York offer certifications in Sustainability. Corporate's prefer employees certified in sustainability.