The Governance of Sustainable Development

Abstract

The logic of the economic system under which the world operates is predicated on an assumption that development is possible and that the pricing system mediates the acquisition of the additional resources required for that development. The chapter investigates where those resources are and focuses particularly on the BRIC counties. These countries have access to a large proportion of the remaining natural resources of the world while also having large populations and therefore great scope for rapid economic growth. These four countries contain a significant proportion of the world’s reserves of raw materials, but they are also rapidly developing countries with that development fuelled by their raw materials. One consequence of this is that the resources available to other countries in the developed world are constrained by this rising demand, with a number of possible consequences. The discourse in the developed world is towards the conservation of resources and towards energy efficiency. This is reflected in both manufacturing resources and consumer purchasing decisions. So it is generally accepted that resource depletion will affect the economic environment. It is not yet fully recognised, however, that development in other parts of the world will exacerbate this pressure and lead to a greater need to compete for the available resources. This competition will be economic but could also become physical as the world adjusts to a new geopolitical environment. This is an important topic not being addressed elsewhere.

Citation

Crowther, D. and Seifi, S. (2016), "The Governance of Sustainable Development", Accountability and Social Responsibility: International Perspectives (Developments in Corporate Governance and Responsibility, Vol. 9), Emerald Group Publishing Limited, Leeds, pp. 23-47. https://doi.org/10.1108/S2043-052320160000009002