In the words of the well known World Commission on Environment and Development"Sustainable Development is Development that meets the needs of the present without compromising the ability of future generation to meet their own needs".
In simple terms, 'a sustainable society and sustainable development mean that our generation has to nuke a conscious decision to control the use of natural resources whilst meeting our needs. Developmental project must be able to put back into the nature for what they take from it, to sustain earth
There has been a broadening of project assessment techniques over the past 20 years. To begin with there was no formal accounting and decisions were made largely on the basis-of Interest Group Lobbying. Then came the introduction of Cost-Benefit Analysis, first as a fairly crude efficiency maximizing device with an emphasis on monetary quantification but later as a more wide ranging accounting technique operating in relation to a number of objectives multiple discount rates and imaginative Proxy Pricing methods. The multiple-objective aspect of cost benefit was further developed by the introduction of Programme Budgeting and Programme Analysis Review. These innovations were still not sufficient to cope with the demands of the new environmentalism which emerged in the 1970s. As a response first environmental impact assessment of projects appeared based largely on description of effects on Bio-physical processes.
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