Faced with the increasing environmental pollution and global climate crisis, sustainable development is considered a necessary roadmap for every organization and country around the world. This is also an inevitable trend in the process of national development that the Vietnamese Government is aiming for. To learn more about this content and move towards a strong future, let's join GREEN IN Find out what sustainable development is through the article below!
1. Find out what is sustainable development?
Before learning what sustainable development is, you need to define the concept of sustainability:
1.1. What is sustainability?
Sustainability - Sustainability is understood as the process of balancing all activities in a stable state, which can be maintained for a long time without affecting the natural environment. At the same time, resources are not depleted. Future life will not be negatively affected. Therefore, in order to maintain sustainability, people need to approach and comprehensively consider the connection between economic, social and environmental factors as well as the connection between people with the social community and with nature, thereby aiming to build an increasingly sustainable future.
“At its core, sustainability means ensuring prosperity and protecting the environment without compromising the ability of future generations to meet their own needs. A sustainable world is one where people can escape poverty and find decent work without damaging the Earth’s vital ecosystems and resources; where people can live healthy lives and have the food and water they need; where everyone has access to clean energy without contributing to climate change; where women and girls have equal rights and opportunities” - Former United Nations Secretary-General Ban Ki Moon.
According to ISO - the international standards organization, "sustainability is the state of a global system, including environmental, social and economic aspects, in which the needs of the present are met without compromising the ability of future generations to meet their own needs" - ISO
Sustainability is now represented by three factors also known as the “3Ps" including:
- Profit - Profit: Maintain economic growth without leading to resource depletion.
- People: Building an equal, fair and civilized society. Leading in improving the quality of human life. Everyone has the right to welfare and development opportunities.
- Planet: Protect the natural environment where humans and all species live to avoid resource depletion. Ecosystems can also sustain life.
1.2. What is sustainable development?
“Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” - According to the United Nations in the 1987 Brundtland Report
Sustainable Development - Sustainable development is understood as a development process based on the principle of harmoniously meeting economic, social and environmental needs at the present time, without depleting resources or harming the ability to meet the needs of future generations. The goal of this development direction is to create a balance between economic growth, environmental protection, and at the same time building a fair and prosperous society for all.
Sustainable development will include three main pillars such as:
- Economy: The first goal of sustainable development is to help the economy be stable and prosperous without depleting resources.
- Society: Create a stable, fair society. Everyone has the right to access social benefits. Typically education, health care and employment.
- Environment: Minimize pollution, use natural resources efficiently, preserve biodiversity. The aim is to protect the environment for future generations.
The goal of sustainable development is to create a world where people can enjoy good lives without harming the planet and the future of humanity. To achieve this, close cooperation and strong commitment from all countries, organizations and individuals is needed. Living in harmony with nature is the key to sustainable development. Otherwise, we will face serious consequences such as climate change.
Sustainable development is not just about protecting the environment. It even extends to building a healthy, equal and fair society. That means fully meeting the needs of every member of the community. Typically, it encourages personal development and brings fair opportunities to everyone.
2. Why is sustainable development needed?
Sustainable development is a vital issue in today's era. Because it plays an important role in orienting, directing, promoting the search for solutions to improve the economy, society and environment to ensure the prosperous development of the present without negatively affecting the future of humanity.
2.1. In the economic field
This process focuses not only on promoting strong economic growth, but also on long-term stability and security. That requires us to build a “healthy” economy that improves the quality of life without creating the risk of recession or pushing future generations into a debt spiral.
2.2. On social field
Alongside economic factors, equitable and progressive social development is also an indispensable pillar. This is assessed through indicators such as the Human Development Index (HDI), which focuses on improving health, education, nutrition and reducing poverty. The goal is to build an equal society and reduce injustice and conflict, while creating equal development opportunities for everyone.
2.3. On the environmental field
At this point, especially witnessing the damage from the recent storm No. 3, we clearly see that any form of development must be based on the health and resilience of the entire ecosystem. A healthy environment is essential for the survival of humans as well as all other living creatures on Earth. Environmental pollution has reached alarming levels. Natural resources serving the economy and human life are gradually depleted. Activities such as indiscriminate exploitation of resources and minerals, deforestation have caused serious consequences. The consequences lead to natural disasters, floods and ecological imbalances globally. Sustainable development must go hand in hand with protecting and restoring the living environment through the management, use and conservation of resources in a reasonable manner. This helps ensure that the current generation can satisfy its needs without harming the ability of future generations to exploit resources.
Sustainable development is not merely an option, but an imperative path to ensure a prosperous, equitable and green future for all generations.
3. What are the sustainable development goals?
To concretize the vision of sustainable development, the United Nations issued Resolution No. A/RES/70/1 in 2015, which provides a roadmap and plan for implementing the Sustainable Development Goals (SDGs) by 2030. This resolution identifies 17 specific goals to promote comprehensive development, protect the planet and ensure prosperity for all people around the world. This program was voted on by 193 countries of the United Nations in 2015. The 17 sustainable development goals are as follows:
| Target | Write comment here... |
| Goal 1. No Poverty | End all poverty in the world. |
| Goal 2. Zero Hunger | Eradicate hunger, ensure food safety, improve nutrition and promote sustainable agriculture. |
| Goal 3. Good Health and Well-being | Ensuring everyone can enjoy a healthy and happy life. |
| Goal 4. Quality Education | Building a fair and quality education. Everyone has the opportunity to go to school to learn. |
| Goal 5. Gender Equality | Achieve gender equality worldwide and empower and create opportunities for every woman and girl. |
| Goal 6. Clean Water and Sanitation | Everyone has access to clean water and sanitation. |
| Goal 7. Affordable and Clean Energy | Providing affordable, modern, sustainable energy for all. |
| Goal 8. Decent Work and Economic Growth | Promote stable, inclusive economic growth; create decent employment opportunities and good working conditions for all. |
| Goal 9. Industry, Innovation and Infrastructure | Develop sustainable infrastructure, promote industrialization and innovation, and ensure inclusiveness. |
| Goal 10. Reduced Inequalities | Narrowing the gap of inequality within societies and between nations. |
| Goal 11. Sustainable Cities and Communities | Building urban areas and communities that are safe, environmentally friendly and provide all amenities for everyone. |
| Goal 12. Responsible Consumption and Production | Promote rational and sustainable consumption and production methods. |
| Goal 13. Climate Action | Tackling climate change through urgent action. |
| Goal 15. Life on Land | Conservation, restoration and sustainable use of terrestrial ecosystems, sustainable forest management, combating land degradation, and protecting biodiversity. |
| Goal 16. Peace, Justice and Strong Institutions | Build peaceful and just societies, ensure access to justice for all, and establish effective and accountable institutions. |
| Goal 17. Partnerships for the Goals | Strengthening international cooperation and solidarity to achieve sustainable development goals. |
The Sustainable Development Goals (SDGs) are the successor to the Millennium Development Goals (MDGs), focusing on poverty reduction while maximizing the scope of solving pressing problems around the world today. It can be said that sustainable development (SDGs) plays a role as a compass for individuals, organizations, and countries to cooperate together towards comprehensive and long-term development.
In Vietnam, the Sustainable Development Goals (SDGs) have been integrated into national strategies and policies, as clearly demonstrated in the National Action Plan for Sustainable Development 2020-2030. The Government has committed to promoting renewable energy development, gradually reducing dependence on fossil fuels and promoting green technologies to reduce greenhouse gas emissions. Vietnam aims to achieve net zero emissions by 0, in line with its commitments at COP 2050.
4. Some of the most classic sustainable development models today
Nowadays, sustainable development models are increasingly receiving attention and being widely applied. Among them, CSV, ESG, SIB and 3P are the most important models:
4.1. CSV (Creating Shared Value) model
According to many assessments, CSV is considered a development model that has advanced compared to CSR (Corporate Social Responsibility). Not only emphasizing how businesses contribute, CSV is the perfect combination of creating social and economic values in a stable and sustainable way.
Businesses conduct business activities with the goal of maximizing profits while meeting social needs and protecting the environment. The CSV model can be implemented at many different levels, including:
- Provide high quality products at reasonable prices, bringing better value to consumers.
- Effective management of natural resources, promoting sustainable economic and social development.
- Contribute to improving the lives and creating development conditions for local communities.
4.2. SIB (Social Impact Business) organization
If CSV is simply a strategic orientation model to create value to benefit society, the SIB business model is completely new. Because the way of organizing activities will be completely changed. Not only focusing on the profit factor, SIB also ensures to bring positive impacts to both society and the environment. The balance between environmental, social and commercial goals of SIB helps to solve sustainable difficulties.
In Vietnam, social impact businesses (SIBs) tend to be small in size. However, they play an active role in promoting diversity and inclusion in the business environment. The majority of SIBs are staffed by women. Many actively recruit people with disabilities with the aim of creating employment opportunities for vulnerable groups in society.
4.3. ESG (Environmental, Social & Governance)
In the investment field, finance and profit are always the top goals of businesses. However, when sustainable development becomes a global standard, investors cannot only pursue short-term benefits and ignore these values. The ESG (Environmental, Social & Governance) long-term investment model was born as a set of criteria to assess the level of impact of businesses on the community and the environment.
The ESG model focuses on three main pillars, with many specific indicators:
- Environmental: Assesses a business's impact on the environment through factors such as climate change, natural resource use, pollution control, eco-friendly design and innovation.
- Social: Considers the social impact of the business, including aspects such as occupational health and safety, employee diversity, community relations and charitable activities.
- Governance: Assesses the management and governance of a company. Through criteria such as shareholder rights, board structure and diversity, and executive compensation. As well as measures to prevent fraud and corruption.
ESG not only promotes sustainable development but also helps businesses build trust and reputation, creating long-term value for both investors and society.
4.4. 3P model
The 3P model is a long-term strategy. It aims to help businesses develop sustainably by balancing economic, human and environmental benefits. It is a comprehensive approach that focuses on both community prosperity and planetary protection. This is something that many other models may not fully address.
The three core elements of the 3P model include: People, Planet and Profit. To truly develop sustainably, businesses need to see themselves as part of the community, fulfilling their responsibilities in these three areas:
- People: Focuses on improving the economic and social well-being of communities, including employees, leaders, and shareholders. Management training programs such as Management Trainee of multinational corporations such as Pepsi or P&G are typical examples of investment in human resources.
- Planet: Emphasizes the protection and improvement of the natural environment. Ensures that business operations not only minimize negative impacts but also contribute positively to environmental protection.
- Profit: Profit is still an important goal, helping businesses maintain operations and grow. However, profit must go hand in hand with social responsibility, creating more jobs and contributing to the overall economic development of the country.
The 3P model encourages a balance between profit and social responsibility, allowing businesses to develop sustainably not only for economic benefit but also for the long-term benefit of the community and the environment.
5. Current status of sustainable development in Vietnam
Currently, Vietnam is also one of the countries that is extremely concerned about sustainable development issues when applying many outstanding policies such as:
- The 2020 Environmental Protection Law is accompanied by Decree 06 on emissions inventory and ozone layer protection, which stipulates extended producer responsibility.
- Green growth action strategies, climate change response strategies
- Practices from the business sector: There have been pioneering businesses implementing ESG reporting (Vinamilk, Pan group) and the trend is that more and more businesses are interested in choosing the path of sustainable development. Many programs and funds to support creative startups and social impact investments are being implemented to support the new trend.
The Resolution of the 2021th National Congress of the Communist Party of Vietnam has set out a socio-economic development strategy for the 2030-2045 period, with a vision to XNUMX, emphasizing rapid and sustainable development. This strategy is based on science and technology, innovation and digital transformation, demonstrating a steadfast determination towards comprehensive development and long-term stability.
The specific goal by 2030 is to turn Vietnam into a developing country with modern industry and an upper middle income. By 2045, Vietnam aims to become a developed, high-income country, ensuring a prosperous and sustainable future for all people.
6. Conclusion
The above article has helped you learn about the issue of sustainable development. Hopefully, our information will be of some help to you as well as contribute to protecting the environment to be increasingly green - clean - beautiful. Don't forget to follow the next articles of GREEN IN to get more updated information!