Economic growth requires a stable, sustainable population. The disadvantaged people in the world are adversely affected by environmental threats such as air pollution and contaminated water.
As a result, illness and impairment caused by polluted conditions stifle and obstruct economic growth. Aside from the human toll, the disease often imposes a substantial financial burden on treatment costs and reduced production efficiency. Which is why, we need to promote environmental, social and governance stability in our world.
What is the Concept of Long-term Development?
Environmental sustainability is also described as development that meets current generations’ expectations without jeopardizing future generations’ ability to meet their own.
According to the World Economic Forum’s Environmental Risk Study, non-communicable diseases are among the most serious risks to globalized trade. Between 2010 and 2030, the economic loss associated with NCD deaths is expected to be $63 trillion, with 75 percent of these deaths occurring in developing states.
Societies and policymakers are putting more focus on ensuring that economic growth is done in a sustainable manner as proof of the harm to health and well-being caused by widespread environmental degradation and global climate change increases.
What We Can Do?
For instance, unstable children and adults cannot attend a school or perform well, and dysfunctional adults cannot function or participate in the community, so proper environmental, social, and governance practices are essential.
- Environmental sustainability necessitates the preservation and creation of safe ecosystems. Environmental, social, and governance can be incorporated into long-term development for global health by doing the following:
- Working to implement sustainability for the most impoverished communities with the highest burdens of environmental diseases by reducing exposure to air pollution from wood burning in homes and villages, ensuring safe drinking water, and improving sanitation.
- Identifying attempts to solve environmental, social, and governance issues can positively impact one’s health. Creating conditions that promote biking and walking for transportation, for example, decreases greenhouse gas and hazardous air pollutants while also the physical activity (environmental benefit) (health benefit).
- Acknowledging that specific policies, activities, and innovations to promote environmental sustainability may have unforeseen adverse health effects on the climate and try to avoid or reduce these effects until they are introduced.
Even from a financial perspective, there is an abundance of shreds of evidence showing the dimension of organizational reporting on occupational health and wellbeing in terms of financial performance.
Endorsing health indicators opens up the possibility of quantifying and optimizing social and financial outcomes for a business. An increasing opinion among companies and fund managers that non – monetary metrics are important in a company’s financial performance is implicit in the rise of ESG.