Why Sustainability Is Important Our Worldwide Future...

Introduction Doubtlessly, it is very simple to understand why sustainability is important: our worldwide future depends on it. This concept is established on the following interdependent issues: fossil fuel consumption, climate change due to CO2 emissions, and the rising costs of energy and water (Sustainable Housing Foundation, n.d, para. 1). According to International Institute for Sustainable Development (n.d), â€Å"sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs† (para. 1). This notion was created in 1992 by Bruntland Report for the World Commission on Environment and Development. There is no universal definition on what sustainable†¦show more content†¦It is one of the Four Asian Tigers, as it is a highly developed country with a free-market, and it is well known as one of the â€Å"world’s most business-friendly regulatory environment† (The World Bank, 2016, para. 1), while having strict local regulations and laws (BBC, 2016, para. 1). Historical Context Singapore is the world’s fastest growing economy, it recently reached a per capita GDP of US $60,000, but only 50 years ago the figures were drastically different and its GDP per capita was only US $320. Its ascension is remarkable, especially when considering its lack of territory and natural resources. Its economic development is a result of Singapore’s open-mind to globalization, free market capitalism, high level of education, and strict policies (Zhou, 2016, para. 1) Singapore’s advances towards globalization started happening in the 1960s with the creation of the Jurong Industrial Estate, an industrial town built in a vast land not far from the Singapore Harbour (Jurong GRC, 2016, para. 3), and the establishment of the Singapore Economic Development Board (EDB) with the purpose to attract international investors to Singapore (Singapore Economic Development Board, 2015, para. 1). These were the mark of a new industrialized Singapore (Singapore Economic Development Board, 2016, para. 3). Many actions took place to connect Singapore to the developed world, in order to attract multinational companies to manufacture there. For the same reason,