Intergenerational equity

Intergenerational equity is a concept based on the assumption that the human species shares the natural environment of the Earth in common with past and future generations. Thus, each generation is simultaneously a beneficiary of previous generations and a custodian of the planet for future generations (Weiss, 1990). This means that currently living people have certain obligations to care for their legacy, particularly with regard to natural resources. Implicit in the notion of intergenerational equity is the notion of the global commons, or the aggregate of the Earth's natural resources which benefit the whole of human society across national and temporal boundaries. Here, the underpinning principle is that existing economic and environmental systems should be managed, enabling human society to live off the surplus of its resources and sustain the asset base for generations yet to come. Intergenerational equity entails a fair distribution of economic, social and environmental wellbeing between generations. It is informed by the idea of stewardship which means moving beyond self-interest to take responsibility for the ecological welfare of the planet as a whole (Lavelle, 2007). Within this context, intergenerational equity is regarded as a 'moral obligation' to future generations, in particular considering that "people who are not yet born can have no say in decisions taken today that may affect them" (Beder, 2000, p. 229).