Economic indicators sustainable development impact

LCSA extends the environmental boundaries of traditional LCA in an attempt to incorporate the concept of sustainable development. It is defined as a method of addressing environmental, economic, and social sustainabiHty of a product system over its life cycle, indicated through the measurement of either positive or negative impacts [3]. LCA has been implemented through an integration of E-LCA, hfe cycle costing (LCC), and social life cycle assessment (S-LCA) [3]. Brief definitions of E-LCA, LCC, and S-LCA are described in Table 14.1. 

Economic impacts of sustainability can be measured with a capital approach that can be defined as maintaining economic, environmental, human, and social capital over time for future generations (Kulig, Kolfoort, and Hoekstra 2010). The capital approach can be proposed as a theoretical basis for sustainable development indicators (Atkinson and Hamilton 2003 World Bank 2006 UNECE 2014). The capital approach provides a theoretical approach by measuring all capital stocks in their own units. The capital approach can provide consistent, theoretically sound, and policy-relevant comparisons between countries (Kulig et al. 2010). 

The environment is effectively a balance between the three media of atmosphere, soil and water. They co-exist and sustain our lives. Improvements designed to protect one can actually make matters worse for another. The underlying principle of the Design for the Environment with its environmental impact indices is to achieve a proper balance between sustainable development and economic growth. 

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