The correct option is 2 only.
Explanation
The question addresses the core definition of Sustainable Development and the geographical scope of environmental externalities. Environmental issues are often characterized as transboundary problems affecting global or regional commons.
- Statement 1 is Incorrect: Environmental degradation is not strictly a region-specific issue. Pollutants such as particulate matter in the air or contaminants in river water travel across administrative borders, affecting neighboring states and regions.
- Statement 2 is Correct: This statement provides the standard definition of Sustainable Development adopted by the Brundtland Commission in its 1987 report, Our Common Future. It emphasizes intergenerational equity, ensuring that current economic activities do not deplete resources required by future generations.
- Statement 3 is Incorrect: The consequences of environmental degradation do not respect national or political boundaries. Issues like global warming, acid rain, and ozone depletion are global phenomena where emissions in one country can have severe impacts on others.
Key Takeaway: Sustainable development seeks to balance present needs with future capacity (intergenerational equity), and environmental degradation is inherently transboundary in nature.