• Development is humanity’s most important aim as well as its most challenging challenge. Poverty, famine, and environmental degradation continue to plague the world, despite considerable economic and social progress made over the last century. Furthermore, environmental deterioration and climate change have begun to have irreversible effects for the progress made thus far in development.
• The statement that economic development is more important than environmental protection and natural resource conservation, especially for developing countries, is the issue of debate. While some countries place a greater emphasis on economic development, others believe that all economies are a component of the global environment, and that the destruction of one ecosystem will result in the collapse of all economies. As a result, they seek policies that promote both economic and environmental success.
• Both the environment and development are critical. The environment is usually the place where we work and earn a living, as well as where we adjust to changing circumstances. Inclusive development will be difficult without a proper focus on environmental conservation. In today’s age, we can observe that progress and the environment are two sides of the same coin. We are concerned about the environment since critical issues such as global warming, greenhouse gas emissions, water and air pollution are on the rise; nevertheless, sustainability is essential at the same time as poverty alleviation and economic growth. A country will never be able to break the cycle of poverty without economic progress.
• Achieving a balance between economic growth and natural resource consumption is critical. Development is worthless without an environment. We must conserve energy for future generations and understanding the notion of sustainable development is the only way to do it. As a result, development goals must be reached while environmental restrictions are followed.

Conclusion

By utilising good corporate governance practices, investors will be more likely to invest in corporate businesses, leading to sustained growth, therefore great benefit to the nation in enabling it to flourish and thrive. With liberalisation and globalisation, emerging economies, including India, are becoming increasingly aware of this fact that for fast capital formation and sustained growth of the economy, it is important that the business environment of the nation is conducive to both investors’ confidence and the general public’s benefits.