Author ORCID Identifier

0000-0003-1459-1326

Document Type

Book Chapter

Disciplines

Business and Management.

Publication Details

Published by Springer Nature, Switzerland.

Abstract

Sustainable development (sustainability) objectives are achieved when environmental, economic, and social/human aspects are respectfully considered in organisational public and private decision-making. This study reviews and critiques these three main components as attempts are made to achieve sustainable business development. The results allow decision-makers to identify issues that need to be considered when making decisions regarding environmental, economic, and human resources. A literature review methodology is utilized. The findings highlighted flaws in all three main sustainability components. Renewable energy generators are benefiting the environmental component of sustainability, but at a slower pace than anticipated. Global indicators of environmental degradation are on the rise. In the economic realm, many sustainability projects, such as renewable energy generators, rely on government grants and subsidies and are not in a position to be profitable as stand-alone projects. Such market-intervention incentives are not sustainable. Also, in the economic realm, the current economic paradigm of neoclassical continuous economic growth is not ecologically sustainable. Humans must respect the fact that endless physical growth on a finite planet is unsustainable. In the human/social realm, there are several cohorts of people who are omitted from decision-making processes. There is still a way to go before everyone will feel the benefits of sustainable development.

DOI

10.1007/978-3-031-65191-5_1

Creative Commons License

Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License
This work is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 4.0 International License.

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