Can Finance Save the World?

CHAPTER 15

Using the Financial Cement

Reaching a state of sustainable development requires effective governance. Our working group on water says,

To understand this connection, is as simple as remembering that the word “sustainable” means more than just “durable,” but also acceptable, feasible, viable, livable; in short, it implicitly refers to compromise. The philosophy attached to sustainability (in the sense of viability) suggests that only compromise is lasting. It is not the correctness of a policy that makes it endure, but rather the concessions by which each player gives up something in order for everyone to benefit collectively.¹

To make it possible for everyone to benefit collectively is the challenge of international cooperation, a ...