Sustainability, Economic

This is about creating a system which provides adequate products and services at appropriate costs to ensure the longevity of a system, without detriment to the environment and society.

There are many features which are encompassed within economic sustainability, including:
• Improving the quality of human life: health, welfare and well-being.
• Maintaining an economy which provides adequate financial rewards, incentives, benefits and supports within and between generations.
• Eliminating poverty, malnutrition and hunger by improving redistribution of finances to provide an acceptable and meaningful quality of life.
• Investing in economic activity which is environmentally and socially sustainable.
• Minimising waste and promoting cost-effectiveness of service provision.
• Minimising the life cycle costs of products and services.
• Maintaining the enduring financial viability of all stakeholders and communities within a financial, social and environmental ecosystem.
• Developing services and products which are embedded in a circular economy.
• Internalise environmental costs within products and services.
• Maintaining production and consumption to sustainable levels.
• Meeting current economic needs without compromising the economic needs (expected or perceived) of future generations.
• Understanding interconnections with environmental sustainability and social sustainability.