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Literature Review On Sustainable Development

1386 Words6 Pages
Literature Review
Sustainable development emphasizes a holistic, equitable and far-sighted approach to decision making at all levels. It rests on integration and a balanced consideration of social, economic and environmental goals and objectives in both public and private decision-making.
This concept of sustainability is very important in Small Island Developing States (SIDS) and this was first acknowledged at the Earth Summit in 1992. The vulnerabilities of SIDS arise from a number of physical, socio-economic and environmental factors. SIDS small size, limited resources, geographical dispersion and isolation from markets, place them at a disadvantage economically and prevent economies of scale. For instance, due to the small size of their economies, SIDS are highly dependent on trade but lack the factors that are decisive for competitiveness. Similarly, international macroeconomic shocks tend to have higher relative impacts on SIDS small economies. The combination of small size and remoteness leads to high production and trade costs, high levels of economic specialization and exposure to commodity price volatility. Furthermore, in SIDS, the following natural resource base: energy, water, mineral and agricultural resources are limited and resource extraction tends quickly to meet the carrying capacities of the small islands. The latter also face unique threats related to global environmental issues, mainly climate change, biodiversity loss, waste management, pollution,
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