ESG: The Future of Sustainability

Page 88

C ONCLUS ION

THE FUTURE OF

SUSTAINABILIT Y IS CIRCULAR By Reinhardt Arp and Zaynab Sadan

The Anthropocene – or the age of humans – is underpinned by the pursuit of perpetual economic growth and characterised by environmental degradation on numerous fronts. According to conventional wisdom, economic growth is supposed to deliver prosperity, higher incomes and improved quality of life for all of us. However, this certainly isn’t the case in reality. Economic growth has, at best, delivered these benefits unequally and at the expense of the natural environment upon which economic growth itself depends. To continue on this business-as-usual pathway, paved with climate change, ecosystem degradation and biodiversity loss, is simply inconceivable. fu t u re of su sta i n a b i l i ty.c o .za

The world is in desperate need of some

World Wide Fund for Nature (WWF) 2018

kind of “green stimulus”, something that is

Living Planet Report, we have wiped out

increasingly being referred to as the ‘Green

60% of mammals, birds, fish and reptiles

New Deal’ in the USA and the ‘Green

since 1970, and human activity is said to

Deal’ in Europe. We need a complete

directly affect over 70% of global ice-free

refurbishment of the global economy – one

land surface2. These pressures are pushing

that creates jobs and improves livelihoods

the integrity of our biosphere beyond its

in the short-term; provides equitable food,

planetary boundary and into the high risk,

energy, water and economic security in

red zone. Our fossil fuel addiction has

the medium-term; and crafts a sustainable

increased global greenhouse gas (GHG)

future for all in the long-term. Transitioning

emissions by 41%3 over the last 30 years,

to a just, low-carbon and circular economy

pushing climate change beyond its safe

provides a promising roadmap for building

planetary boundary. The global agricultural

a sustainable macroeconomic policy and

system, which, in its current form, fails

garnering such a green stimulus.

to provide adequate nutrition for all and

Refurbishing our economic model for circular sustainability

generates vast amounts of food waste, has pushed both the global land-system and biochemical flows beyond their planetary boundaries as well. Continued

Since the industrial revolution the global

and unrestrained pressure on the planetary

economy has expanded exponentially,

system from anthropogenic activities is

often at the cost of significant ecological

dangerous and risks pushing the global

resource degradation. In 2009 the

system into uncharted territory.

planetary boundaries concept was proposed as a means of understanding

The structure of the global economy

and measuring our impact on the planet.

needs a drastic refurbishment. Call it

Nine planetary boundaries define

a green new deal, a just transition, a

the environmental limits within which

green stimulus, whatever we choose to

humanity can safely operate and provide

call it, it needs to improve resource use

science-based analyses of anthropogenic

efficiency, decouple material use from

pressures on Earth’s ecological system1.

economic growth, promote sustainable production and consumption, address

Driven by uncensored consumerism, our

persistent inequities, and eliminate

continuing quest for economic growth has

waste and pollution. To sum it up, it

pushed four of Earth’s critical ecological

needs to deliver on both socio-economic

processes beyond their safe planetary

and environmental agendas of the

boundaries (Figure 1). According to the

Sustainable Development Goals.


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Articles inside

THE PUBLIC SECTOR AND SUSTAINABILITY

6min
pages 78-81

The future of sustainability is circular

11min
pages 88-91

Diversity in the Workplace

6min
pages 60-63

A time to give back

4min
pages 56-58

Water Sustainability

7min
pages 26-28

Corporate fraud and auditing challenges

4min
pages 86-87

Why are investors fixiated on sustainability

5min
pages 84-85

Sustainable investing - a South African perspective

5min
pages 1, 76-77

The Public Sector and Sustainability

5min
pages 78-81

Sustainable finance in Africa’s mining sector

4min
pages 82-83

How to embed ESG as best practice

9min
pages 72-75

Sustainability in the workplace

3min
pages 54-55

Climate-smart Entrepreneurship

11min
pages 50-53

Powering Ahead

3min
pages 44-46

Traveling the green road

5min
pages 34-35

Digging Deep

7min
pages 30-32

Pollution and plastics

8min
pages 40-43

Success stories in sustainable agriculture

9min
pages 22-25

Building our future

6min
pages 36-37

The green economy

6min
pages 18-21
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