In the most general terms, sustainable development has been defined as development that meets the needs of the present without compromising the ability of the future generations to meet their own needs. It deals with the harmonisation of three core elements: economic growth, social inclusion and environment protection, for building a sustainable planet. Eradication of poverty and reduction in wealth inequality are the most important factors for achieving sustainable development throughout the world.
Some people believe that sustainable development is a broad term which impacts the industrial progress by keeping manufacturing industries underutilized on account of environmental pollution. While others believe that environmental degradation caused by pollutants released through various factories and manufacturing units is the reason behind the introduction concept of sustainable development.
No: Sustainable development does not hamper industrial progress :-
- Sustainable development is the way out for industrial growth and environmental care to go hand in hand.
- Manufacturing industry is based on the raw materials which are extracted from natural resources. Sustainable development ensures that the industries do not over exploit the natural resources.
- Technology collaboration between developed and developing countries for exchange of green technologies will bring superior technical know-how and hence promote the economic growth by facilitating industrial progress.
- Sustainable development ensures optimum utilization of resources by facilitating the use of waste materials from one industry or one stage of manufacturing as raw materials for another process.
- Green manufacturing units get the benefit of less government intervention and less taxes on account of assumed corporate social responsibility.
- Industries built around a resource that is depleting will ultimately fail in the future which leaves us with sustainable development as the only option.
Yes: Sustainable development hampers industrial progress :-
- Sustainable development will lead to higher cost of production of goods due to the implementation of various environmental protection laws.
- People argue that for countries having widespread poverty industrialization should be the first priority rather than caring about depletion of resources. Industrialization protects millions of people from starving.
- India being the 2nd most populated country, the government has to focus on generating employment and industrialisation generates more and more employment. Focusing on sustainable development will reduce the same.
- People argue that most of the natural resources are renewable thus sustainable development is not very much required.
- The cost of implementing sustainable development policies is higher than the conventional methods. This makes it financially less rewarding for the company.
Sustainable development is a realistic goal that any country should have as it ensures the availability of the resources for the future generations. But the fact whether it hampers industrial progress is a debatable topic. Sustainable development and industrialisation are both essential for the economic growth and environmental protection. Thus it can be concluded that both should go hand in hand.
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