What developmental approach emphasizes ecological sustainability alongside economic growth?

The concept of sustainable development highlights the necessity of integrating ecological sustainability with economic growth, ensuring that the needs of the present are met without compromising the ability of future generations to meet their own needs. This approach advocates for a balance between developing economies and preserving the environment, recognizing that social equity, environmental health, and economic viability are interconnected.

Sustainable development encompasses strategies that promote environmental stewardship, like reducing carbon emissions, conserving biodiversity, and using renewable resources, all while fostering economic progress. This holistic view acknowledges that long-term prosperity relies not only on financial success but also on the health of ecosystems and communities.

In contrast, capitalism primarily focuses on profit maximization and market efficiency, often prioritizing economic gains over environmental considerations. Green technology refers specifically to the innovative technologies that aim to mitigate environmental impact, but it is a subcomponent rather than an overarching developmental philosophy. Globalization pertains to the increasing interconnectedness of economies and cultures, which can sometimes lead to unsustainable development practices if not managed with environmental considerations in mind.