The Triad of Sustainable Development: Promoting Sustainable Development in Developing Countries

Abstract

Sustainable development was defined in 1987 in a report of the World Commission on Environment and Development (also known as the Brundtland Report) as development that “meets the needs of the present without compromising the ability of future generations to meet their own needs.” The ability of developing countries to practice sustainable development is affected by many factors, three of which are defined in this article. When acting in harmony, these three factors can make sustainable development a more achievable goal: (a) domestic policy actions, including steps taken toward creating open and free market economies, sound and enforceable environmental policies, and public participation in decision making; (b) financing policies of the bilateral and multilateral lending institutions; and (c) private sector investment and clean technology development. The interaction of these factors forms a triad for sustainable development. This article discusses these factors and offers recommendations for furthering a positive relationship among them in promoting sustainable development in developing countries.