Sustainable development encompasses economic and social development. It takes full account of the environmental and social consequences of economic activity and is based on the use of resources that can be replaced or renewed, meeting the needs and improving the quality of life of current generations without compromising the ability of future generations to meet their own environmental, social, and economic needs. Sustainable development practices do not allow for "externalities" that exist in "economic development." Sustainable development broadens the accounting system to include green accounting, equity, and inter-generational issues. Its goal is not maximum economic growth but more balanced development of environmental, social, political, and economic resources.
consequences of economic activity and is based on the use of resources that can be replaced or renewed, meeting the needs and improving the quality of life of current generations without compromising the ability of future generations to meet their own environmental, social, and economic needs. Sustainable development practices do not allow for "externalities" that exist in "
