Ethics and sustainability in frugal innovation

Abstract

Natural resource depletion, biodiversity loss, and adverse climate change have been threatening our planet for many centuries. However, it has been more than three decades since the terms sustainability and sustainable development became a mantra. Sustainability, as a concept, was first used in forestry, where it is referred to as never harvesting more than what the forest grows. The scarcity of resources also quickly became the vital concern for economists. Sustainability has three interconnected and mutually reinforcing dimensions: economic, environmental, and social. The sustainable use/reuse of natural resources has attracted huge attention from policy makers and civil societies. Societal preferences for sustainability are based on the interaction of social dynamics and resource dynamics. Long-term ecological sustainability is the reduction in anthropogenic pressures on the environment. Frugal innovation has some impacts reinforcing the sustainability of an economy. It has environmental benefits on the one hand and inclusive actions for those on a low income on the other.

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