ADEKUNLE AJASIN UNIVERSITY AKUNGBA AKOKO

FACULTY OF SOCIAL AND MANAGEMENT SCIENCE

DEPARTMENT OF ACCOUNTING

SUSTAINABILITY THEORY

A topic presented by group B

(Matric NO 041-080)

LECTURER IN CHARGE: MRS ODUGBEMI

NAME MATRIC NUMBER

Olubayo Olanrewaju Emmanuel 190601041

FAGBOHUNKA OPEYEMI DAVID 190601042

Omosowon Paul olashile 190601043

Rogbitan Ezekiel Taiwo 190601044

Fatoba precious Oluwadolapo 190601045

Abiodun Abosede Oluwaseyifunmi 190601046

Adeyeye Emmanuel Tope 190601047

Adeyemo Ebenezer Boluwatife 190601048

Ismail Abdullahi Olabayo 190601049

Adeola Oluwafemi Olaoluwa 190601050

51 Adegunloye Matthew Samuel 190601051

Akintomide mercy kehinde 190601052

Olajire Mary Ayomide 190601053

Akinwale Ayomide Samuel 190601054

Adewale Mercy Taiye 190601056

Adenibuyan Ayomide Boluwaji 190601057

Omowanren Vovwero 190601058

Balogun Samson tobi 190601059

Akinde justinah moyinoluwa 190601061

Amodu Oluwafemi Emmanuel 190601062

EMAYE Taiwo Adewale 190601063

Odido Theresa Oluwadamilola 190601064

Durodola Odunola Balikis 190601066

Omolopo Godwin Afolabi 190601067

Adesanoye Titilayomi Mary 190601068

Ayebuola Ayomikun Mary 190601069

Oladapo Ayomide Temitope 190601070

Oladapo Ayorinde Motunrayo 190601072

Ehinola Ayomide Faith 190601073

Ibitoye Ayomide Samuel 190601074

Adegeye Abisola Oluwabamisetemi 190601075

Adegboyega Atinuke Joy 190601076

Fadele Isaac Ayomide 190601077

Daisi Damilola blessing 190601079

Ogunleye Bukola Beatrice 190601080

 INTRODUCTION OF SUSTAINABILITY THEORY
Sustainability theory is an interdisciplinary field of study that explores the relationship between humans
and the natural environment. It is grounded in the understanding that human activities have the
potential to create significant negative impacts on the planet and its ecosystems, including depletion of
natural resources, pollution, and climate change. The goal of sustainability theory is to identify strategies
and practices that promote long-term environmental, economic, and social well-being.

Sustainability theory draws on insights and methodologies from a wide range of disciplines, including
ecology, economics, sociology, political science, and philosophy. It is built on the premise that humans
are part of a larger ecosystem and that the health and well-being of that ecosystem is critical for the
survival and flourishing of both humans and non-human life.

One of the central concepts in sustainability theory is the idea of sustainable development, which is
defined as development that meets the needs of the present without compromising the ability of future
generations to meet their own needs. This requires balancing economic growth with environmental
protection and social equity.

Another key concept in sustainability theory is the triple bottom line, which is a framework for
evaluating the sustainability of an organization or project based on three criteria: economic,
environmental, and social. The goal is to create positive outcomes in all three areas, rather than focusing
solely on economic profitability.

Overall, sustainability theory provides a framework for understanding and addressing the complex
challenges facing our planet, and for developing solutions that promote long-term sustainability and
well-being for all.

To expand further on the introduction to sustainability theory, it is important to note that this field of
study has emerged in response to the growing recognition that many of our current economic, social,
and political systems are unsustainable. The overexploitation of natural resources, the degradation of
ecosystems, and the increasing levels of pollution and waste are just some of the indicators that we are
living beyond the carrying capacity of our planet.

Sustainability theory seeks to address these issues by exploring ways to promote a more sustainable
relationship between humans and the natural environment. This requires a shift away from the
dominant paradigm of economic growth at all costs, towards a more holistic approach that takes into
account the long-term well-being of both people and the planet.

One of the key principles of sustainability theory is the precautionary principle, which holds that in
situations where there is a risk of harm to the environment or human health, we should err on the side
of caution and take preventive action. This means taking action to reduce or eliminate potential threats
to the environment or human health, even if the scientific evidence is not yet conclusive.
Sustainability theory also emphasizes the importance of interdisciplinary collaboration and stakeholder
engagement. Solving the complex problems facing our planet requires input from a wide range of

Disciplines, as well as the active involvement of diverse stakeholders, including governments,

businesses, civil society organizations, and communities.

Finally, it is worth noting that sustainability theory is not just about protecting the natural environment,
but also about promoting social and economic well-being. The goal is to create a more just and
equitable society, where all people have access to the resources and opportunities they need to thrive,
while also ensuring that future generations can do the same.

ADVANTAGES AND IMPORTANT OF SUSTAINABILITY THEORY 1)

Environmental preservation: Sustainability theory emphasizes the need to conserve natural resources
and protect the environment, reducing the negative impact of human activities on the planet.

2) Social responsibility: Sustainability theory also highlights the social responsibility of individuals and
organizations to contribute to sustainable development and ensure equitable access to resources.

3)Resilience: Sustainability theory emphasizes the importance of building resilience into social and
ecological systems, enabling them to adapt to changing conditions and absorb disturbances such as
natural disasters, economic shocks, and social upheavals.

4) Health and well-being: Sustainability theory recognizes the connection between human health and
well-being and the health of the natural environment. By promoting sustainable practices, we can
improve public health and quality of life.

5) Resource efficiency: Sustainability theory emphasizes the importance of using resources efficiently,
reducing waste, and minimizing environmental impact. This can lead to cost savings, increased
productivity, and reduced carbon emissions.

6)Education and awareness: Sustainability theory promotes education and awareness of sustainable
development, encouraging individuals and organizations to take action and make informed decisions
that support sustainability.

7) Encouraging collaboration and cooperation: Sustainability theory recognizes that many of the world's
most pressing problems cannot be solved by individuals or organizations working in isolation. Instead, it
emphasizes the need for collaboration and cooperation among diverse stakeholders, including
governments, businesses, NGOs, and communities.

8)Fostering innovation: Sustainability challenges require new and innovative solutions. Sustainability
theory encourages experimentation and the development of new technologies and approaches that can
help address these challenges.
 WHY SHOULD WE IMPLIMENT SUSTAINABILIY THEORY
Environmental protection: Sustainability theory aims to protect the environment and preserve natural
resources for future generations. By implementing sustainable practices, we can reduce waste, conserve
energy, and minimize our impact on the environment.

Social responsibility: As individuals and as a society, we have a responsibility to ensure that our actions
do not harm others or put them at risk. By implementing sustainable practices, we can reduce the
negative impact of our actions on the environment, communities, and people.

Economic benefits: Sustainability theory emphasizes the importance of balancing economic

development with environmental protection and social responsibility. By implementing sustainable
practices, we can create economic opportunities and build more resilient and prosperous communities.

Climate change mitigation: Climate change is one of the greatest challenges facing humanity today. By
implementing sustainable practices, we can reduce greenhouse gas emissions and mitigate the impacts
of climate change.

Resource depletion: Many of the Earth's natural resources are finite, meaning they will eventually run
out if we continue to use them at our current rate. Implementing sustainable practices can help us use
resources more efficiently and reduce our dependence on non-renewable resources.

Biodiversity conservation: Human activities such as deforestation, overfishing, and pollution have caused
a significant decline in biodiversity. Implementing sustainable practices can help protect and restore
ecosystems, and support the preservation of endangered species.

Health and well-being: Sustainable practices can improve the health and well-being of individuals and
communities by reducing exposure to harmful pollutants and promoting access to clean air, water, and
food.

Regulatory compliance: Governments and regulatory bodies are increasingly implementing

sustainability regulations and standards to ensure that businesses and organizations operate in an
environmentally responsible and sustainable manner. Implementing sustainable practices can help
ensure compliance with these regulations and avoid potential legal and financial penalties.

Overall, implementing sustainability theory is essential for addressing the pressing environmental,
social, and economic challenges of our time, and for creating a more equitable, sustainable, and resilient
world
 CRITICISM AND CONCLUSION OF SUSTAINABILITY THEORY
At the start of the 1970s the term sustainable theory the need for proposing the theory was for
‘sustainable development' and was coined, by Barbara Ward (Lady Jackson), founder of the International
Institute for Environment and Development.

There are three pillars of sustainability theory which are – economic viability, environmental protection
and social equity.

However, there are still some critics against the theory, many sees the theory as too vague’ or ill-defined
to be useful because they see it being applied without serious attention to environmental protection or
environmental integrity. They say that sustainability can easily be manipulated to support ‘green
washing’

Other critics is the narrowness of the term and the provocative tendency to confine global problems to
the environment alone, in real sense, we tend to lose focus on some contemporary issues our countries
might be facing, Many scholars, politicians, social activists and industrialists believe that environmental
protection issues cover the entire sustainable development strategy, hence why I think they tend to
focus more on it.

There are other critics, including those who see sustainability as part of an international conspiracy to
weaken property rights.

Having said that,

Sustainability theory has several advantages and important as rightly said by the 3rd speaker, some of
which are;

Environmental preservation: take the case of deforestation, erosion, through Sustainability theory
there's avenue for innovation, case study is the use of timber for book.

Sustainability theory even went as far as preventing environmental pollution by industry, through the
course/theory individuals are sensitize on the need to keep our immediate environment healthy so the
advantage and importance cannot be overemphasize.

Earth provides enough to satisfy every man's needs, but not every man's greed,- Mahatma Gandhi, most
manufacturing industry didn't care about the adverse effects of their production activities in as much as
they make profit,

Hence why we still need to propound this theory.