Is Sustainability the Key to Our Future?

Introduction to Sustainability
“Reversing the dire consequences of climate change requires a global shift towards sustainable practices, from renewable energy to conservation efforts.”
October 24, 2024

In the face of mounting global challenges, sustainability has become a focal point for ensuring a viable future. Sustainability, encompassing environmental, social, and economic dimensions, refers to meeting present needs without compromising the ability of future generations to meet their own needs.

Today, we are confronted with significant environmental issues such as climate change, resource depletion, and pollution. According to the Intergovernmental Panel on Climate Change (IPCC), global temperatures could surpass 1.5°C as early as 2030 if current trends continue [1]. How will these changes specifically impact ecosystems and communities around the world? This temperature rise is likely to intensify extreme weather events, such as hurricanes, droughts, and floods, and exacerbate the loss of biodiversity, as many species may not be able to adapt quickly enough to the changing conditions. 

A stark example of these impacts is the Maldives, the world's lowest-lying islands, which are facing severe threats from climate change. By 2050, 80% of the nation could become uninhabitable due to rising sea levels and deteriorating coral reefs [2]. The Maldives, comprising 1,192 coral islands, is experiencing increased coral bleaching, which undermines biodiversity and accelerates coastal erosion. With much of its land barely above sea level and extreme weather events on the rise, the country is highly vulnerable to flooding and erosion. The lack of fresh groundwater exacerbates the crisis, forcing the majority of Maldivians to rely on rainwater. Reversing such dire consequences requires a global shift towards sustainable practices, including renewable energy and conservation efforts, to mitigate the impacts of climate change and preserve vital ecosystems.

The Maldives, the world's lowest-lying nation, faces a grim future with rising seas and vanishing coral reefs threatening its survival by 2050.

Social sustainability focuses on promoting human rights, equity, and access to essential services like healthcare and education. Currently, 700 million people globally live on less than $2.15 a day, the World Bank's threshold for extreme poverty [3]. By addressing social disparities, we foster a sense of shared responsibility and collective progress, crucial for societal stability and growth. Access to education, for instance, could lift 420 million people out of poverty, reducing the number of poor people worldwide by more than half [4].

Economic sustainability emphasises the need for resilient financial systems that support long-term growth without depleting resources. This involves ethical business operations, fair trade, and investments in sustainable technologies. Driven by increasing consumer and industrial interest in clean energy resources and technological innovations, the global green technology and sustainability market is expected to reach $79.65 billion by 2030 [5]. Such sustainable economic practices drive profitability while ensuring that economic activities do not harm the environment or society.

The interconnectedness of these sustainability components cannot be overstated. Improvements in environmental practices often lead to social and economic benefits, creating a synergistic effect that propels overall development. For instance, investing in renewable energy not only reduces carbon emissions but also generates jobs and promotes economic stability. The renewable energy sector employed 13.7 million people in 2022 [6], demonstrating its potential to drive economic growth while addressing environmental challenges.

As we embrace the opportunities offered by renewable energy and its potential to drive economic growth, we must also consider the challenges that arise. For example, how can we effectively support workers in traditional energy sectors, such as mining and coal, who may face job displacement? What strategies or policies can ensure a just and equitable transition for all?

In conclusion, sustainability is indeed the key to our future; therefore, it is imperative that we act now, adopting a holistic approach to sustainability to ensure a bright future for generations to come. 

Contributors:

Keeshendra Kandiah

Saranya Sasidaran

Tags
Environmental, Social and Governance (ESG)

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