The paper analyses the concept of «sustainable development» and shows the role of environmental factor in providing a fulfilling modern life without risk of failing to meet the needs of future generations. It is shown that sustainable development implies the unity of activity in three directions: social, economic, and ecological. For each of them, the leading factors of sustainable development are isolated. The policy of the National Olimpic Comittee of Ukraine and the National University of Physical Education and Sports of Ukraine concerning the development of sport, conservation and improvement of environment is analysed.