Continual growth and consumption is unsustainable. We've published many books on why the idea of "sustainable consumption" is impossible, but this post by Alison Singer at Worldwatch breaks it down simply and effectively.
Across the globe the concept of sustainable consumption is being touted as the way of the future, a change in lifestyle and values that promises “green growth”– economic growth that doesn’t hurt the environment. Though not without obstacles and controversy, this concept has been embraced by policymakers, consumers, and industry. The idea is that, by providing consumers with a choice of products reflecting their new environmental values, the market will self-regulate its way towards a more sustainable future, one in which supermarket shelves are lined with ecologically friendly products, and workers in developing countries are receiving fair wages for their labor. Eco-labeling, taxes on water and energy consumption, recycling incentives, education and communication campaigns, and advertising are examples of methods to promote sustainable consumption, all of which are endorsed by the OECD. More here.