10.7 Applications
289
How can we improve resource allocation in Africa?
10.7.4 Accounting and Regulation
In terms of economic sustainability , it is necessary to develop a resource efficient
economy that will form the basis of Green growth and economy. There are
three levels (environment, economic, and social) that form the basis of what is
accountable within a sustainable framework. What this means is that policies need to
be created in order to improve productivity, manage natural resources and materials,
while also protecting resources. Some regulations could appear in terms of avoiding
waste (or minimizing waste) and the life cycle of the materials used must also be
considered.
These types of policies could be drawn out on a local, national, or international
level. However, if they are presented on an international level, independent and local
policies must be considered in order to create a peaceful development, wherein
supply chains are diversified and completed. What’s more is the fact that even
though accounting and regulating could fall under an economic perspective, these
objectives also work hand in hand with other areas of sustainability. Innovation and
technology must be regulated as well as different types of trade, wealth distribution,
and environmental costs in which a sustainable economy develops. Even though
it is sometimes difficult to achieve a level of commitment between all spheres of
sustainability, it can be argued that industries must try to find a balance between the
social, economic, and environmental aspects.
Describe three policies that directly relate to economic sustainability in
Nigeria.
10.7.5 Consumption and Use
Nowadays, consumption of natural resources is increasing rapidly which in turn
makes it unsustainable. In terms of regulation, governments are required to rethink
the incentives that are being offered to diverse companies. Businesses should think
about the environment in the long-term, instead of thinking of short-term profits.
If governments and the public want to curb this trend and create a different
consumption pattern for future generations, actions are required immediately. This
could range from promoting education on sustainable farming and production to
289
How can we improve resource allocation in Africa?
10.7.4 Accounting and Regulation
In terms of economic sustainability , it is necessary to develop a resource efficient
economy that will form the basis of Green growth and economy. There are
three levels (environment, economic, and social) that form the basis of what is
accountable within a sustainable framework. What this means is that policies need to
be created in order to improve productivity, manage natural resources and materials,
while also protecting resources. Some regulations could appear in terms of avoiding
waste (or minimizing waste) and the life cycle of the materials used must also be
considered.
These types of policies could be drawn out on a local, national, or international
level. However, if they are presented on an international level, independent and local
policies must be considered in order to create a peaceful development, wherein
supply chains are diversified and completed. What’s more is the fact that even
though accounting and regulating could fall under an economic perspective, these
objectives also work hand in hand with other areas of sustainability. Innovation and
technology must be regulated as well as different types of trade, wealth distribution,
and environmental costs in which a sustainable economy develops. Even though
it is sometimes difficult to achieve a level of commitment between all spheres of
sustainability, it can be argued that industries must try to find a balance between the
social, economic, and environmental aspects.
Describe three policies that directly relate to economic sustainability in
Nigeria.
10.7.5 Consumption and Use
Nowadays, consumption of natural resources is increasing rapidly which in turn
makes it unsustainable. In terms of regulation, governments are required to rethink
the incentives that are being offered to diverse companies. Businesses should think
about the environment in the long-term, instead of thinking of short-term profits.
If governments and the public want to curb this trend and create a different
consumption pattern for future generations, actions are required immediately. This
could range from promoting education on sustainable farming and production to