IBON International Submission to the online consultation on sustainability and growth
"The prevailing model of economic growth is based on the unlimited pursuit of profit and accumulation of capital. This economic model has led to excessive environmental degradation and stark inequality.
"The wealthiest 20 percent of humankind enjoy more than 80 percent of total world income while the bottom 20 percent share only 1 percent. The most dramatic demonstration of the effect of unsustainable production is the increase of carbon dioxide emissions in the atmosphere – now 20 times greater than in the 1800s which is driving current climate change. Despite sustained economic growth, the ‘trickle down’ effect remains elusive and the majority remains in poverty. At the same time, excessive consumption is driving the unsustainable depletion of natural resources and destruction of ecosystems."
This paper argues for new principles to guide sustainable development
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