Question

What economic arguments can be made for and against environmental sustainability initiatives? What economic arguments can be made for and against social sustainability initiatives? What personal choices have you made as a consumer with respect to environmental or social sustainability?

Answer 1

The economic arguments made for environmentally sustainability initiatives:

1) sustainability offers a means to creating financial value. Financial value can be created by lowering operating costs through the adoption of more energy-efficient technology.

2) to implement sustainability is to effectively manage community relations. With a good reputation, company can constantly obtain consumers’ trust.

3) it can satisfy our sense of moral obligation to preserve life.

The economic arguments made against environmentally sustainability initiatives: It would increase the cost burden on the firm in the short run.

The economic arguments made for social sustainability initiatives:

1) it can maintain societies’ long-term well-being.

2) company with social sustainability initiatives can treat all their stuffs,suppliers, distributors and partners fairly. Therefore, everyone would feel respected.

The economic arguments made against social sustainability initiatives: it’s hard to find a optimal solution that contribute towards social welfare. Company needs to balance their profit and society. Sometimes social sustainability initiatives would contradict to the company’s objectives and prevent them to earn more money.

My personal choices: I would definitely choose environmental sustainability. With poor environment, the quality of living is poor. If environment is not preserved now then the future generation may not be fortunate to enjoy the benefits of a healthy environment. In order to survive and develop continuously, mankind must ensure the harmonious with the whole society and nature, not only to make the material wealth increase, but also to ensure the sustainable use of natural resources. This requires the environmentally sustainability initiatives. In this case, every enterprise, as an independent economic unit, should make effort of sustainable development to ensure the realization of sustainable economic development.