Can Sustainable Development and the Market Co-exist?

Abstract

Abstract This article looks at Shell vision of sustainable development which is based on three essential and inseparable building blocks — the creation and maintenance of economic wealth, environmental improvement and social equity. All three must be integrated and balanced for long-term success, and all three underpin the Shell approach to global markets. The process of moving towards a sustainable future is under way, but the rate of progress depends on customer choice, innovation and investment — in other words, on market forces. If governments set targets and provide a good framework, companies like Shell will take the chances and offer solutions that support sustainable development. Then the markets will decide. Shell companies see support for sustainable development as a key element in continuing business success. This article discusses some of the ways Shell works with a wide range of partners to seek ways of achieving the best balance between economic, environmental and social considerations and between short term and long-term benefits. On this basis, the market supports the aims of sustainable development and Shell companies intend to play their part by providing, responsibly, efficiently and profitably, the energy the world's growing populations will need and want in the 21 st century.