sustainable development and economics

Date: 03 - 01 - 2019

Despite the importance of sustainable development, which no sane person disagrees with and agreed upon by all countries of the world as a necessary priority for the dignified preservation of life and the human species on this planet, the actual applied commitment to the world is not satisfactory, and even its range in the countries of the world ranges to less than the acceptable level, even if it is apparent and promoted. otherwise. According to the results obtained in international reports, most of the world’s countries, governments and peoples have not yet reached the stage of applied maturity in the field of sustainable development.

Considering the reasons that slow some countries in the world from rushing to implement environmental sustainability strategies is the cost of the initial change bill, and often these costs fall outside the frameworks of financial budgets allocated by those governments for their annual development projects, which we often find that these governments have funding problems and suffer from challenges To meet the minimum obligations, which makes the idea of ​​pumping new investments almost difficult to achieve.

For example, if we review the projects of transition towards alternative energy, we find that due to the high cost of producing energy from renewable sources such as the sun – especially since the price of the land allocated for the project should not be overlooked – is higher than that produced through fossil sources such as coal and diesel plants, which calls for Immediately to mind the idea that investing towards environmental sustainability will require more required financial resources, which represents more pressure on the economies of countries.

Since we do not have the luxury of complacency in the global transformation towards sustainable development, especially economic development, we must reconsider the mechanisms of sustainable economic work, through which it is possible to maximize returns on investments and direct loans towards productive activities related to some of the international sustainable development goals that were adopted by the Assembly The General Assembly of the United Nations, that is, through the leaders of the vast majority of countries in the world, including, for example: “Promoting sustainable, sustained and inclusive economic growth and the provision of decent work for all.”

It is certain that steady and inclusive economic growth will advance development by providing more resources for education, health, personal consumption, transportation infrastructure, water and energy. Also, economic growth will help add new job opportunities. However, maintaining high real economic growth is not easy, as we note that only a few countries have been able to consistently settle around the 7 percent annual growth rate as the real GDP target. Moreover, economic growth is not necessarily sustainable when countries deplete their natural resources for economic growth, thereby transferring the burden of environmental degradation and environmental damage to future generations. Is this acceptable?

Dr..Eng. Ali Mohamed Al-Khouri

Advisor to the Council of Arab Economic Unity and President of the Arab Federation for Digital Economy

التنمية المستدامة والاقتصاد