Sustainable Development, Law, and Economics Integrative Approaches in the 21st Century

Abstract

The paper examines how various aspects of sustainable development, law and economics are connected and outlines the importance of using different approaches to deal with all the challenges seen in the world today. The paper explains the development of sustainable development in global law from how it was first mentioned in global policy frameworks to its implementation in international treaties and the Sustainable Development Goals (SDGs). It looks at the way legal principles—including precaution, equity and participation—have entered environmental management and how there has been a change in economic thinking from emphasizing growth alone to also valuing social and environmental costs and embracing circular economy plans. The evidence stresses that blending economic instruments, rules and inclusive structures is necessary to attain sustainability and justice between generations. However, the paper finds that there are still problems like confusing policies, unequal access and slow progress within institutions, explaining that progress requires further research, legal reforms, flexibility from economies and more global teamwork. Finally, the review states that achieving sustainable development for everyone now and in the future depends on properly integrating legal, economic and policy approaches.