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Sustainable Development

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Chapter Summary

This chapter gives an insight into what sustainable development means. Moreover, the chapter gives a historical perspective of issues relating to natural resources. Natural resources are important to understand, because animals located in nature (that is, wild animals) are considered natural resources. One of the key issues to understand is the issue of sovereignty over natural resources within the jurisdictional limits of a country. The post-1962 UN General Assembly resolutions essentially clarified that new states had the right to adopt the economic and social systems, which they deemed appropriate for their development - and that they had full sovereignty over their natural resources. The legally binding WTO Agreement has incorporated the concept of sustainable development in its Preamble as envisaged by the drafters of the soft law instruments. The WTO Agreement is thus a reflection of the world leaders' commitment to incorporate the concept of sustainable development.

Keywords: natural resources; sovereignty; sustainable development; WTO Agreement



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