Sustainable development promotes the idea that social, environmental, and economic progress are all attainable within the limits of our earth’s natural resources.
The concept of “Ecosystem Goods and Services” (EGS) satisfies this need. For both the environmental and development communities, EGS are, simply and unanimously “the benefits people obtain from ecosystems.”If there is growing awareness on the value and importance of biodiversity, there is a lack of consensus on how it can be measured. Biodiversity offers the potential to place unique products on the market and to generate income for local communities. Many of these products are very valuable yet their sale seldom benefits the people who harvest them.
According to Dr Madhukar Angur, the honorable chancellor of Alliance University, Keeping in mind the prevailing economic crises and deteriorating environmental conditions, the concept of ‘Sustainable development’ becomes the need of the hour. The concept of sustainable development was well presented in 1987 by the World Commission on Environment and Development as the “Development that meets the needs of the present without compromising the ability of future generation to meet their own needs.” The prevailing ill practices like exploitation of natural resources, air pollution, water pollution, use of pesticides have an adverse effect on the quality of life at present, as well as the future generations.
Sustainable development constantly seeks to achieve social and economic progress in ways that will not exhaust the earth’s finite natural resources. The needs of the world today are real and immediate, yet it’s necessary to develop ways to meet these needs that do not disregard the future.