Sustainable Consumption: A view from the Global South

Economy, Policies

Sustainable Consumption: A view from the Global South

The global discourse on sustainability has revolved around the need to transition towards “Sustainable Consumption” ever since it was introduced during the 1992 Earth Summit chaired by Maurice Strong, a Canadian businessman who made his wealth from the oil and gas industry.

A couple of years later, the 1994 Oslo Symposium on “Sustainable Consumption” sought to resolve the ambiguities around the term’s definition and decided to define it as: “the use of goods and services that respond to basic needs and bring a better quality of life, while minimising the use of natural resources, toxic materials and emissions of waste and pollutants over the life cycle, so as not to jeopardise the needs of future generations.” (United Nations Sustainable Development Goals n.d.).

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The Global Economy’s Uneven Recovery

Economy, Policies

The Global Economy’s Uneven Recovery

While the US, China, and other leading economies are on their way to a robust recovery, many others are struggling to return to pre-pandemic GDP levels. In most regions, including Europe and Latin America, the 2020 recession will most likely leave long-lasting scars on both GDP and employment.

The chances for a swift, uniform rebound from the COVID-19 crisis have dimmed, and the world economy now faces sharply divergent growth prospects. Although the latest update of the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) offers some grounds for optimism, it also raises renewed concerns.

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