Abstract

The main ideas and guidelines of The Concept of Sustainable Development are considered in the study, according to the Brundtland Report of the World Commission on Environment and Development (WCED), as well as the goals for its practical implementation, established in contemporary strategies and policies locally and globally. These issues are related to the notion of a "knowledge economy", where the focus is on human capital, and knowledge and innovation are seen as key factors for development and growth. Corporate social responsibility (CSR) and the principles of good governance have been studied as a basis for sustainable development in the private and public sectors of the economy. In this regard, the scope of CSR is clarified, as well as the key areas of good governance. The role of knowledge and integrity in The Paradigm of Sustainable Development is clarified. Based on the practice in highly ranked universities in Europe and the United States, the relationship between the operation of ethical norms and standards, on the one hand, and the achievement of quality education and science, on the other, has been studied. Education, scientific achievements and innovations, in close unity with ethics, have been studied in relation to environmental protection and the achievement of welfare and prosperity. Special attention is paid to the current role of educational institutions in promoting The Concept of Sustainable Development through education. Emphasis is placed on the possibilities of higher education institutions to serve as a model for the actual application of this concept, and their graduates to be bearers of change and good practices in society.

Highlights

  • The Concept of Sustainable Development is closely linked to education and science in two aspects: the acquisition of knowledge and the application of knowledge to solve complex problems – environmental, social and economic – in order to achieve secure and stable growth

  • The views on the "knowledge economy" are being strengthened and attention is being focused on the development of human capital

  • Knowledge and ethics put into action become the basis for achieving the goals of sustainable development in a knowledge-based economy

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Summary

Introduction

The Concept of Sustainable Development is closely linked to education and science in two aspects: the acquisition of knowledge and the application of knowledge to solve complex problems – environmental, social and economic – in order to achieve secure and stable growth. The World Bank is the leading international organization in developing and promoting the concept of the "knowledge economy" This institution has developed a toolkit for assessing the progress of individual countries in this direction, which contains 69 indicators covering four main pillars: (1) favorable economic, institutional environment and governance for entrepreneurship development, (2) well-developed information infrastructure, (3) creative and well-trained human capital, (4) a national innovation system capable of implementing products with high knowledge content. Paul Hohnen refers to this definition and points out that CSR means the way in which companies integrate social, environmental and economic issues related to their values, culture, decision-making, strategy and operations, in a transparent and accountable manner in order to establish better practices in the company, create wealth and improve society [43]. Together with the relevant activities, they are presented in the table below

Employee satisfaction and commitment
Harvard University
Findings
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