Topic > Sustainable consumption and sustainable economic growth

Sustainable consumption is primarily about the quality of growth, rather than its quantity. Analysts have made two important observations regarding current growth patterns. The first is that, as emerging economies continue to grow, most of the wealth is accumulated in the hands of a few wealthy individuals, leading to great inequality in society. The second is that economic growth increases the well-being of society, but only to the extent that it satisfies people's primary needs. Beyond this, growth makes no marginal contribution to well-being, despite having harmful impacts on the environment. Aside from that, the World Economic Forum has recently begun to recognize sustainable consumption as an economic opportunity and future direction for businesses. Underconsumption is an aspect of unsustainable consumption. Many rural areas still require stable food supplies, housing, energy, as well as health and education infrastructure, which are essential for poverty eradication and are areas of sustainable consumption. The rural poor tend to live in environmentally fragile areas and their livelihoods are heavily dependent on the use of natural resources and ecosystem services. Sustainable consumption ensures that these resources are exploited fairly and with long-term considerations. From an economic point of view, sustainable consumption can strengthen economic growth, the economy leads to more job opportunities, greater use of foreign investment and a reduction in unemployment and poverty rates. Both are equal in developed economies, can be accepted by all people and benefit from economic development. The third is the efficiency in planning and development of the planned economy. This efficient collaboration with communities to develop drought-tolerant agricultural techniques accessible to poor farmers. This has helped reduce climate risks, increase yields and diversify food production. The techniques are based on local knowledge, use locally available materials and Cambodian innovations, and minimize labor costs. They include: integrated agriculture, where the by-products of chicken and fish farming provide organic fertilizers for crop production, valorization of aquatic food species (fish, crabs, snails) that live naturally in flooded rice fields, drip irrigation, using economical and produced locally. materials, water harvested using traditional methods and innovations in mulching to retain soil moisture and the Rice Intensification System (SRI) and other innovations in rice production, to minimize external inputs, reduce vulnerability to drought and increase yields.