Sustainable Livelihood refers to the means by which people secure their well-being, focusing on the ability of individuals and communities to make a living in ways that are economically viable, socially equitable, and environmentally sound. It is an approach that considers the broader context in which people live and ensures that their livelihood strategies do not deplete natural resources or harm the environment.
Three Capital Assets for Sustainable Livelihood:
- Human Capital: This includes the skills, knowledge, education, and health that enable individuals to participate in productive activities. Example: A person who is trained in carpentry or farming can earn a livelihood by selling their services or products.
- Natural Capital: This refers to the natural resources and ecosystems that people depend on for their livelihoods. Example: A fisherman depends on a healthy aquatic ecosystem for fish stocks, or a farmer relies on fertile soil and water for crop production.
Social Capital: This encompasses the social networks, relationships, and support systems that individuals rely on to access resources and opportunities. Example: A farmer may rely on a cooperative to access seeds and tools or a community network to share labor during harvest.