In business, environment has become a significant area of international concern. The relationship between globalization and environment has resulted in the creation of various policies. The effect of the debate on ecological issues is evident in aspects of global economic and political relations. Nations and corporations have engaged in multilateral forums to discuss critical environmental problems. Some of the primary concerns include pollution, the threat to wildlife, global warming, and depletion of the ozone layer (The Levin Institute, n.d.). Global attempts to address these issues have resulted in notable joint efforts and objectives such as the Paris Agreement and Sustainable Development Goals (SDGs). Thus, governments and corporations strive to maintain their economic growth while moving towards a sustainable environment.
The primary goal of the efforts and initiatives is to attain sustainable development that contributes to environmental protection. Objectives outlined in the 2030 Agenda for Sustainable Development reflect challenges that the present-day civilization faces. There is an agreement that countries need to work towards protecting the planet from degradation by facilitating sustainable methods of production as well as rates of consumption (“Sustainable Development Goals,” n.d.). Governments should also strive to ensure that there are considerate exploitation and utilization of available natural resources for posterity purposes. Another environment related objective focuses on the urgent need to take action to mitigate climate change. Thus, environmental protection efforts aim to maximize social and economic benefits, which populations can draw from approaches that improve the state of the environment.
Various bottlenecks and issues challenge the attainment of sustainable development and environmental conservation. Although countries have embraced the call for protecting the environment, social, and economic factors, it is difficult to implement some environmentally conscious policies. For example, more than one billion people across the world live in extreme poverty (Department of Economic Survey, 2013). They lack access to basic needs such as food, shelter, and clothing. Besides, the disparities in income within and among nations are alarmingly high. Such conditions make it impossible to encourage sustainable production and consumption as people cannot afford other alternatives. Therefore, hindrances to social and economic progress also serve as bottlenecks to initiatives aimed at strengthening environmental protection.
The government has a critical role to play in ensuring that a country shifts towards sustainable economic growth that fosters conservation efforts. It is also central to attaining of long-term success in areas like the quality of life and ability to handle environmental challenges that may arise. An example of a measure applied by governments in line with safeguarding the ecosystem is the adoption of environmental policies. Administrations pass laws that guide the public on issues such as provision and utilization of natural resources. The advantage of government-initiated interventions is that they regulate how people and institutions interact with the environment (Everett, Ishwaran, Ansaloni, & Rubin, 2010). The measures also influence areas such as infrastructure and investment in addressing the issue. Thus, the governmental have a significant impact on the economic sustainability of a country.
Individuals and members of civil societies who share specific interests can collectively work towards achieving a particular objective. Engagement of civil society and the public in the promotion for sustainable development strengthens the campaign for strategic solutions to the issues (United Nations Environmental Program, n.d.). Civil organizations that are made up of units such as large groups and their stakeholders offer diverse perspectives on the concerns. They also provide substantial amounts of research that examines various problems. One of the measures used by civil societies is advocacy functions that rely on generating public support in favor of conservation efforts (United Nations Environmental Program, n.d.). Its advantage is that it fosters long-term, broad-based support for protection initiatives. Thus, civil societies rely on advocacy to influence policy formulation and decision-making.
There is a need for countries and organizations to strive toward the establishment of economic systems that contribute towards a sustainable environment. Nature provides valuable natural resource inputs that facilitate industrial production. Corporations obtain products such as fresh water and genetic resources from their surroundings. They use these materials in processes whose end products accrue significant benefits to the users. However, it is vital to regulate their utilization. Although natural environments offer essential raw materials that foster economic growth, some of them are non-renewable (Everett et al., 2010). Failure to control their use in wealth creation affects natural processes. Thus, populations have to contend with changes in air quality, climate, and pollution. Therefore, it is, crucial for governments and companies to embrace sustainable development.
Achieving and sustaining economic prosperity in the long-term while meeting the demand for a clean and healthy natural environment is a challenge. Closing the gap between current commercial practices and the need for ecological protection requires a strategic intervention. The relationship between globalization and the atmosphere makes it a global concern. Thus, it is essential to establish a strategy that can harmonize the role of governments, the international community, and the global business community (United Nations Environmental Program, n.d.) Initiating changes or enforcing environmental policies on such a scale requires a significant amount of funding. The international economic community and political leaders need a unique financial system and framework whose primary commitment is funding sustainable development. Therefore, an appropriate approach to remedying the situation may entail large-scale investment that will facilitate eco-friendly economic production and growth.
The selected approach requires significant financial resources to kick start changes that will encourage sustainable production and consumption. Limitations in access to funds inhibit transition to eco-friendly practices, especially in developing nations. Such countries need full resource mobilization to gain the capacity to initiate changes in key industries of the economy. Some sectors like energy, agriculture, forestry, and education are central figures in the environmental conservation debate (Department of Economic Survey, 2013). The successful introduction of sustainable development in these categories can set the pace for other industries. However, attaining the goals require additional public expenditure. Hence, the adoption of changes becomes difficult given the economic performance of some nations.
There is a possibility that the financing of sustainable development may succeed. However, there is a substantial annual gap in funds secured to meet SDGs (UNCTAD, n.d.). The current state of affairs does not create the impression that resources are available to fund the approach. Global financial assets can meet the needs of the strategy. The limitation arises due to little trust among members of the private sector, civil societies, and government. Thus, there is little interest in financing the needs of sustainable development. Improved relationships among private sectors, governments, and international organizations foster development that can increase private investment (UNCTAD, n.d.). Consequently, this will ensure proper implementation of approach may work.
In conclusion, businesses and countries need to maintain their economic prosperity without jeopardizing efforts aimed at protecting the environment. Members of the international community have debated conservation issues due to the impact of wealth creation activities on the environment. The discussions seek to address or resolve problems such as pollution, global warming, and depletion of the ozone layer. Although governments are the primary agents of change, individuals and civil societies can enact measures that help in the struggle for environmental protection and conservation. The efforts seek to facilitate access to diverse social and economic benefits that a vibrant environment offers. Thus, there is a need for strategies such as pushing for sustainable development to minimize environmental degradation.
Department of Economic Survey. (2013). World Economic and Social Survey 2013: Sustainable development challenges. Sales no. E.13.II.C.1. United Nations, New York. Retrieved from https://sustainabledevelopment.un.org/content/documents/2843WESS2013.pdf
Everett, T., Ishwaran, M., Ansaloni, G. P., & Rubin, A. (2010). Economic growth and the environment. MPRA Paper, University Library of Munich, Germany. Retrieved from https://mpra.ub.unimuenchen.de/23585/1/MPRA_paper_23585.pdf
Sustainable development goals. (n.d.). Retrieved from https://www.unenvironment.org/about-un-environment/evaluation/our-evaluation-approach/sustainable-development-goals
The Levin Institute. (n.d.). International environmental problems and efforts to solve them. Retrieved from http://www.globalization101.org/international-environmental-problems-and-efforts-to-solve-them-2/
UNCTAD. (n.d.). Financing for the sustainable development goals: Breaking the bottlenecks of investment from policy to impact. Retrieved from https://worldinvestmentforum.unctad.org/financing-for-the-sdgs/
United Nations Environmental Program. (n.d.). Civil society engagement. Retrieved from https://www.unenvironment.org/civil-society-engagement
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