What is sustainable development?

Sustainable development is a development process that aims to meet the needs of the present generation without compromising the abilities of future generations.

The concept of sustainable development was first defined in the United Nations’ “Brundtland Report” in 1987. This concept is described based on three main pillars: economy, society, and environment.

Economically, the goal is to ensure stable and long-term growth, creating a foundation for sustainable prosperity. Regarding society, sustainable development emphasizes poverty reduction, creating equity and improving quality of life, with a focus on improving basic services such as education and health for everyone. Regarding the environment, development activities need to protect and restore natural resources, reduce pollution and preserve biodiversity, thereby maintaining sustainable life for future generations.

By 2015, the United Nations passed it Sustainable Development Goals (Sustainable Development Goals – SDGs). This document includes 17 specific goals, from ending poverty, protecting the environment to ensuring quality education, which is considered a sustainable development orientation for the world until 2030. Sustainable development trends Different areas of application, specifically:

Agriculture

Sustainable agriculture focuses on improving product quality, reducing toxic chemicals and protecting biodiversity. The use of organic fertilizers, smart farming systems and efficient irrigation reduce water usage and reduce negative environmental impacts.

Organic agriculture has grown on average 12% per year, especially in developed countries such as the US and Europe. FAO (Food and Agriculture Organization of the United Nations) says smart agriculture and circular agriculture save 30-50% of water and reduce up to 20% of greenhouse gas emissions compared to traditional methods. In addition, reducing food waste is an encouraged direction because each year about 1.3 billion tons of food are wasted, causing economic losses of up to 1,000 billion USD and having a significant impact on the climate.

Industrial

Industry is increasingly adopting technology to optimize production processes, reduce waste and improve efficiency. Smart factories apply artificial intelligence (AI), Internet of Things (IoT), and big data to monitor, predict, and adjust production automatically. This trend helps reduce emissions, reduce resource use and improve product quality. In Vietnam, sustainable industrial parks like VSIP are making efforts to incorporate these technologies to raise environmental standards.

Energy

Energy is an important field in sustainable development. To minimize carbon emissions and reduce dependence on fossil fuels, countries are strongly transitioning to renewable energy such as wind power, solar power, and biomass power.

According to the IEA (International Energy Agency), renewable energy currently accounts for about 29% of global electricity production and is expected to reach 50% by 2050. Countries such as Germany, the US and China are investing heavily in solar, wind and biomass to reduce dependence on fossil fuels.

Finance

Green finance is growing strongly in the forms of green credit, ESG (environmental, social and governance) investments and green bond issuance. According to a report by the Climate Bonds Initiative, global green bond issuance will reach 500 billion USD by 2023 and is expected to continue to increase. Many banks such as HSBC and Standard Chartered have committed to providing hundreds of billions of dollars for sustainable and green development projects, from renewable energy to environmentally friendly infrastructure.

Along with that, the ESG investment trend is increasingly popular with total assets managed according to ESG criteria reaching more than 40,000 billion USD globally.

Technology

The IT industry is working to reduce its carbon footprint and promote sustainable digital technology. According to a report from International Data Corporation (IDC), applying green technology solutions can help companies save up to 20-30% in operating costs. Cloud computing technology, such as Amazon Web Services (AWS), saves up to 80% energy compared to traditional data centers thanks to optimized infrastructure and integration with renewable energy. create.

In addition, countries are encouraging e-waste recycling – an urgent issue. According to a report by Global E-waste Monitor, in 2019, the world generated 53.6 million tons of electronic waste, only 17.4% of which was officially collected and recycled.

To solve this problem, large businesses like Apple have deployed Daisy recycling robots, capable of disassembling and processing 200 iPhones per hour to reuse components, helping to minimize the exploitation of new resources. and reduce waste.

Transportation

The transport industry is moving towards the use of environmentally friendly means of transport, such as electric vehicles and smart public transport systems.

Transport electrification is accelerating, with global electric vehicle sales expected to increase from 10 million in 2023 to 145 million in 2030. Application of technologies such as self-driving cars and car sharing is also gradually increasing. developed to reduce traffic congestion and optimize energy.

Build

Green urban development and public green spaces help reduce pollution, improve air quality and resident health. Real estate projects increasingly focus on using environmentally friendly materials, such as recycled bricks and paint that do not contain toxic chemicals, and achieve sustainability certifications such as LEED and BREEAM. The construction industry is transitioning to green building standards to minimize its impact on the environment.

A report by the World Green Building Council shows that green buildings save 30-40% of energy and reduce 20% of water consumption compared to conventional buildings.

Trade and consumption

Modern consumers are increasingly interested in sustainable products and services. Nielsen’s report shows that 73% of global consumers are willing to pay more for sustainable products.

Since then, large companies have transformed their strategies to meet this need. For example, Unilever announced that its sustainable products grew 29% faster than traditional products, contributing to more than 70% of the company’s total revenue growth.

Consumer service businesses such as IKEA and Starbucks are also applying green communication policies and reducing plastic packaging. Starbucks pledged to eliminate all plastic straws by 2023, while IKEA announced it will use 100% recycled and renewable materials in all its products by 2030.