Procedia Economics and Finance 26 (2015) Dan Cristian Duran, Luminita

Maria Gogan
The 30-year journey of four World Summits from Stockholm to Nairobi to Rio
and to Johannesburg has put the world on notice that achieving sustainable
development in the twenty-first century is not an option but an imperative.
 The sustainable developmentof society refers to three major components of human
existence: economical, ecological and human.
 broadly defined as “meeting the needs of the present generation without compromising the ability
of future generations to meet their own needs”.
 Sustainable development represents a commitment to advancing human well-
being,
 The future of our planet is a matter of great concern. Environmental issues and
how man / human communities
affect ecosystem concerns have
been part of human society from
the beginning.Sustainable
development has become a
recognized goal for human society
since the deterioration of
environmental conditions in many
parts of the world
 Sustainable development is a
juxtaposition of two elements of
majorimportance. The first term
”durable” representsdurability and
sustainability, while the word
”development” aimed at expanding
or constructionthe potentialities of;
bring gradually to a fuller, greater,
or better state.
 ”Sustainable development involves devising a social and economic system, which ensures that
these goals are sustained, i.e. that real incomes rise, that educational standards increase that the
health of the nation improves, and that the general quality of life is advanced
 Sustainable development is a form of economic growth which satisfies welfare needs of society in
terms of short, medium and long term, it must meet the needs of the present without, however,
compromising the of future generations.
 Sustainable development is a process of change, where resources are being gathered, an
investment direction is chosen, the development technologies directed and various institutions have
convergent actions, increasing the potential for human needs and desires
 Sustainabledevelopment can be defined as maintaining system stability by developing a
balance of responsibilities: economic, social, environmental and technological support
technique without compromising the needs of future generations.
  The term development is generally used to denote growth or progress. However the term, particularly
in last two centuries, has become synonym to economic growth in terms of gross domestic product or
the per capita income of the nation. n. This definition has created a rat race amongst the nations to
attain and retain development goals. These goals are often contradictory to the idea of preservation or
sustenance of environment.
Components of sustainable development
 Economic component/ sustainability
o Similar to environmental sustainability, economic sustainability involves creating economic value
out of whatever project or decision you are undertaking. Economic sustainability means that
decisions are made in the most equitable and fiscally sound way possible while considering the
other aspects of sustainability
o Economic development desired to produce a maximum flow of income in
terms of rational use, resource efficiency, particularly scarce resources.As
a manifestation of macroeconomic dynamics, economic development
requires a set of quantitative transformations, structure and quality, both in
economic and in scientific research and manufacturing technologies
o rapid economic growth with obtaining maximum benefits
o Development must be conceived as a process multidimensional,
involving major changes in social structures, attitudes popular and national
institutions, aiming at accelerating economic growth, reducing inequality and
poverty eradication.
 Ecological/ environmental component/ sustainability
o In a truly sustainable environment, an ecosystem would maintain populations, biodiversity, and
overall functionality over an extended period of time.
 o Environmental sustainability aims to improve human welfare through
the protection of natural capital (e.g. land, air, water, minerals etc.).

o Environment development can be defined as the ability to hold whiles the

three basic functions of the environment:
o ecological component of sustainable development captures not only the
actual economic development in relation to the environment, but the entire
development.
o Thus, economic growth should not affect the environment in order to talk
about sustainable development
 Human/ Social sustainability/component
o Social sustainability is based on the concept that a decision or project promotes the betterment of
society. This concept also encompasses many things such as human rights, environmental law,
and public involvement & participation.
o Assuming that viable alternatives have been identified to maintain ecological
balance, and authorities everywhere so converting raw materials purchasing
in material goods to be made in accordance with the requirements for
efficiency and optimality, quality of life and labor standards is the
prerequisite fulfillment and satisfaction professional, social or otherwise.

 Human sustainability

 Human sustainability aims to maintain and improve the human capital in

society. Investments in the health and education systems, access to
 services, nutrition, knowledge and skills are all programs under the
umbrella of human sustainability

 Social sustainability

 Social sustainability aims to preserve social capital by investing and

creating services that constitute the framework of our society.

 synthesize the human aspect of sustainable development worldwide involves the
following objectives:
o Promotion of education, training and public support for the environment
o Protecting and promoting human health (focused on access to medical facilities,
especially in rural areas, control of infectious diseases, risks pollution and
ecological risk).
o Fight against poverty (through access of the poor to sustainable livelihoods,
promoting human development and integrated policy investment in human
capital).
o Demographic threatening sustainable development (focusing on population
growth, especially in developing countries)
o Dividing growth
o Changing the quality of growth Meeting essential needs of all in terms of job, food, energy,
water and sanitation.
o Ensuring a sustainable population Conserving and enhancing the resource base.
o Reorienting technology, building technology that‟s less exploitative
o To ensure a safe human life
Decentralized governance
The SDGs offer a window of opportunity for proponents of decentralization to demand reforms, for
greater resources, capacity development, executive authority, and accountability mechanisms at the
local level. “the effective decentralization of responsibilities, policy management, decision-making
authority and sufficient resources, including revenue collection authority, to local authorities, closest
to, and most representative of, their constituencies” Improving the quality of decentralization within a
country is a long-term process, depending on political will and better mechanisms for autonomous
and accountable governance. 
Integrated local governance
Successful implementation of the SDGs, with the triple bottom line of social development, economic
development, and environmental protection, will require an integrated approach to governance and
policy.
Integration in government refers to the coordination of working arrangements where multiple
departments or public sector organizations are involved in providing a public service or program. An
integrated approach to sustainable development emphasizes the social, economic and environmental
dimensions of development
Municipal Finance
Adequate municipal finances will be key to successful SDG implementation, and the fiscal autonomy
of local governments as well as their capacities for financial management need to be strengthened
for SDG localization. One of the biggest hurdles facing local governments today is the mismatch
between their increasing responsibilities and static revenues. Many local governments are unable to
fund rising demands for investments in infrastructure and public services
Policy frameworks
How policies can enable sustainable urban and local development, including national urban policies
that can support universal SDG achievement across all cities and human settlements.
Policy frameworks are a set of principles and long-term goals that form the basis of legislation and
regulations, giving overall direction to the planning and development for a country/region, or within a
sector of operation.
Peace and Security Initiative
Institutionalising commitment to the core values
Strengthening parliamentary
Undertaking judicial reforms
Water and Development:
Social Indicators for Development Planning
Industrial Restructuring for Sustainable Development:
Natural Storm Water Management
Balanced Development
Deforestation
Population Explosion

Village Centers
Sustainable Transport
Affordable Housing
Energy
3R - reduce, reuse, recycle decreases the communities environmental impact