Sustainable development definition
Sustainable development can be defined in different ways, but the most common one refers to it as the kind of development which satisfies current consumer requirements without risking the ability to satisfy them in the future (Tomislav, 2018). The main point here is, continual use of the current resources is not allowed as it won’t leave adequate resources for tomorrow.
Parts of the Triple Bottom Line
The triple bottom line commonly referred to as the 3 Ps, measures the organizations level of environmental effect, economic value, and social responsibility. The three parts include people, profit and planet. The organization has to be considerate of how the business operations will affect the people involved. The planet is a representation of practices that are sustainable and minimizes the effects on the environment (Slaper & Hall, 2011). The profit refers the company's finances and the ability to work successfully on a long-term basis.
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Can we achieve progress AND sustainability?
Yes, it is possible to achieve sustainability and progress because we have to consider the future while developing. While developing, we have to know that the resources that are available now might not be available in the future. Therefore, we have to use the resources responsibly, and everything must be accounted.
Examples
A good example is where people have embraced gift cards that are wooden to replace the PVC ones. There are benefits associated with this move, but one must be wrong to think that using the wooden gift cards is the end. However, the environment is also affected negatively after some time. Therefore, we have to develop other options that will stop the negative environmental impacts. The other instance is the construction of new buildings. The sources of energy must be used responsibly to ensure they will be available in the future.
References
Slaper, T. F., & Hall, T. J. (2011). The triple bottom line: What is it and how does it work. Indiana business review, 86(1), 4-8.
Tomislav, K. (2018). The Concept of Sustainable Development: From its Beginning to the Contemporary Issues. Zagreb International Review of Economics & Business, 21(1), 47-74.
