SUSTAINABLE DEVELOPMENT While there has been much debate around the nature and meaning of sustainability The Chamber believes that the simplest definition, and the most accurate, is that sustainability is “meeting the needs of the present without compromising the ability of future generations to meet their own needs.”
As stewards of the economy it is incumbent on us to ensure that the actions and decisions that we take today do not have negative consequences for future generations. It is this philosophy that underpins the concept of sustainability.
This involves a process whereby economic, environmental, and social considerations are integrated into all decision-making processes. This is often called the triple bottomline approach. The challenge for both government and the business community is how we develop the concept into practical decisions that builds a prosperous economy today, and for future generations.
This process is easier than many would have us believe. One of the failings of many commentators is the inability to internalize social and environmental costs into economic, or business, decisions. This failure to account for what economists call ‘environmental externalities’ means they are simply passed on to governments and, therefore, to the taxpayer.
The Chamber believes that were the true nature of these costs included in the decision-making process we would quickly discover that, in the long-term, sustainable development strategies will actually provide multiple benefits to the taxpayer. It is clear that at present our economic system has been constructed in such a way that the taxpayer has become the subsidizer of many forms of economic activity. The Chamber has been consistent in its opposition to subsidies as unfair and not in the interests of the economy as a whole. The logical extension of this is to ask how are subsidies such as tax breaks any different from forcing the taxpayer to pay for the environmental or health implications of certain forms of activity.
To achieve this ambitious goal requires strong leadership from government at all levels but cannot be achieved by government alone. In the same way that sustainability is a case of balance and coordination of different systems so the solution can only be found through a combination of balance and coordination between all stakeholders, including business, educators, community organizations and others.
There will be resistance, as there always seems to be, to change. Whether the barriers arise from vested interests or the inherent inability of today's technological systems and institutions to change given their original purpose of reliability and longevity, they can be overcome by a combination of leadership and innovation.
The challenge for government is in moving beyond the vested interests and the often distorted reality that is debate in the public realm and relying on sound science and fact as a basis for decisions. The Chamber believes that government should develop and foster a view of the province that takes into account the links between the economy, the environment and the society. This must then form the basis and foundation of government’s policy and decision-making process.
