A Theoretical Approach to the Impact of Sustainable Development Components on Sustainable Consumption

Abstract

the aim of this paper is to analyse concepts of sustainable development directed at addressing the needs of society and undertaking respective actions with regard to the components of sustainable development. Since sustainable consumption is related to producer and consumer positions, extra investment in more environmentally friendly and less polluting technologies, observance of fair-trade stipulations, and the search for compromises between the implementation of the goals of businesses and securing quality of life for society are very important. An analysis of the scientific literature and the provisions of the European commission and international organisations reveals that the three components of sustainable development, economic, social and environmental, are highlighted. Responsible organisations that pursue the creation of a green image based on a sustainable business concept are producers of goods and suppliers of services in line with the needs of the responsible consumer. For this purpose, they are in a continuous search for harmony between economic growth, environmental protection, social justice and the consolidation of the rule of law, so that the balance between progress and the preservation of natural resources for future generations is maintained.