Over the last three decades we have seen the world’s population rise up to 7 billion putting lot of pressure on the earth’s natural resources. Political stability and good international relations have lead to higher growth but at the cost of destruction of natural resources that are useful to man in technological, economical and social circumstances. There has been unplanned destruction to meet the consumption needs of billions of people. As the developing countries try to match up to the levels of developed economies it has become essential to look into conservation methods for long term economic benefits.
The thought of sustainable development came into the foray as development methods of the past generations came under severe scrutiny. Fiinovation understands that there is a conflict of thoughts where on one hand there is a view that fundamental change needs to take place and there should be shift from what should be extracted and what should not be extracted from nature based on materialistic demands. This will actually connect the humans to the ecosystem. On the other hand their is a moderate view that development in the present context means keeping a check on the destruction of environment due to human activities, so that the basis of modern development is not destroyed.
In recent times we have discussed this over and over again and came to the conclusion that the moderate view seems to be more appropriate method to go about. But that raises a question, Do the developing countries need to do more than what the developed countries did when they were developing?
The answer to that is yes the developing economies will be the next super power because of what decisions they take now. They should be cautious that in this development race there won’t be any shortcuts, and the one who’s development agenda is based on sustainable lines will rule the world in the coming years. In the future years, we will see the present day developed countries becoming more and more dependant on the developing countries as their natural resource reserves will all be consumed. The developing countries thus now have to become more strict about the environment strategies as well as international relations. Sustainable development will only happen with mutual cooperation of all the stakeholders. The behavioral patterns of consumption of non-renewable resources should be reconsidered as soon as possible. Fiinovation advises that sustainable development can only happen if all the nations together impose the policy of reasonable consumption of natural resources and the permanent regeneration of natural resource reserves.