Sustainability is the practice of running a business in such a way that it has no negative impact on the environment, community, or society (Spiliakos, 2018). The goal of sustainability should be to have a positive impact on the world and to demonstrate the positive impact that a company has on the environment and society.
This day and age, change has become the new norm that shapes and develops the business world and global economy. A rising topic that has shepherd the direction of innovation is climate change and environmental awareness. The sustainability of a company encompasses their ability to manage social and environmental risks, obligations and opportunities. This concept is important for managers and to understand and implement because of government regulations and potential cost efficiency. In Oregon, there are numerous companies that express the importance of being sustainable.
Sustainability In accordance to the new corporate governance guidelines issued by ASX Corporate Governance Council which stated publicly listed companies will need to disclose exposure to economic, environmental and social sustainability risks. Blackmore has provided a sustainability report in the annual report on addressing the issues across social, environmental and economic consequences of our actions and decisions. We consider the impact on all our stakeholders immediately and in the future while behaving as a socially-responsible company. As well as complying with all applicable laws, legislations, regulations and standards, to embed sustainability in our business and operations we are focusing our efforts on addressing the most material
By adhering to ethical governance standards in global communication and collaboration efforts, NationaliTeas can help build trust and confidence among stakeholders, and ensure that their actions are aligned with broader societal values and expectations (Honmann, 2023). Environmental sustainability is also critical for global citizenship, as it promotes responsible stewardship of the planet and its resources. By incorporating environmental sustainability into global communication and collaboration efforts, individuals and organizations can help reduce their carbon footprint, minimize waste, and promote sustainable practices that benefit both current and future generations (Honmann,
What is it? In the 21st century sustainability is the key; however, it can be interpreted in many ways. According to Fuad-Luke (2009) “sustainable is an adjective applied to diverse subjects… it means that the subject can persist a long time into the future” however Mason (2017) explains that sustainability “is the study of how natural systems function, remain diverse and produce everything it needs for the ecology to remain in balance”. These two quotes mean the same however the way that Fuad-Luke’s (2009) is worded it sounds as though only the objects, or ‘subjects’ as he calls them, are affected, whereas Mason’s (2017) definition links to the outer world and how sustainability is to keep the balance of production and use of a material.
Introduction Sustainability has been mentioned as a goal of businesses. During the mid 1990s John Elkington created the triple bottom line plan under the concept of sustainability. Sustainability can be defined in many ways, but the simplest way is “Ability to sustain” (Sustainability, 2010). The triple bottom line is an accounting framework, and there are three dimensions of sustainability among them people, planet and profit (3Ps). The concept of TBL is to measure the profitable, social and environmental performance of the company.
The sustainability report includes labor practices, energy efficiency, product sourcing, business ethics practices, and impact on natural environment. To provide annually sustainability report to the shareholders is good for the businesses. The well-known store in United States the WAL-MART annually provides a sustainability report to his shareholders. Wal-Mart and his suppliers both are work to gather to provide these reports. Wal-Mart not only monitors the price of products by the vendors but also monitor the vendor’s social responsibility and environmental practices.
ASSESSMENT/AUDIT 1. Understanding of why it is important to measure sustainability and the associated problems and conflicts of different indicator sets and types Evidence – It is really difficult to find exact concept for measuring sustainability. For instance the measurement of life parameters is differ between different cultures and individuals. So, different solutions will be required to be found for many different communities. However; we should not assume that things we cannot measured easily is not important.
Introduction In today’s world, most developing countries are in a race to build up the necessary infrastructure to scale up there operations and become the next global superpower. In this process, a lot of energy is consumed – be it for transportation, manufacturing or construction. This rapid growth of energy use seen over the past two decades have raised concerns for governments and energy-related organizations alike. Questions with regard to the supply, sustainability and exhaustion of energy sources abound, and while most developed countries have taken active steps to reduce consumption of scarce resources, the position of developing countries in this regard is still lacking.
I agree with the assertion that in the context of Sustainable Development ‘the reality of life today is that the economy dominates environment and society. The Concept of Sustainable Development Sustainable development refers to “meeting the needs of the present without compromising the ability of future generations to meet their needs”, and was produced by the Brundtland report (WCED, 1987). The concept also takes into account the needs of the poor in developing countries by outlining achievable objectives of importance (WCED, 1987).
Stenzel, P. L., 2010. Sustainability, the Triple Bottom Line, and the Global Reporting Initiative. Global Edge Business Review,
Kahn’s (1995) approach to the sustainable development theory is consistent with the modern day development techniques of Europe 2020 priorities; smart growth, sustainable growth and inclusive growth. The adoption of some innovative strategies such as the utilisation of renewable energy as an integral part of the energy mix could result in growth of the economy, which will eventually trickle down to the poor or extend to the rural or disadvantaged areas of the country. The social sustainability generally explains the idea of equity among the people, empowerment, participation, accessibility and institutional stability. It seeks to ensure a good standard of living in the country by alleviating poverty. Environmental sustainability seeks to explain the ways in which exploitation and utilisation of the natural resources will not be made to negatively affect the environment or the health of human beings (Kahn 1995).
The conclusion conveyed at the end of this paper, will be that sustainable development is a concept with weaknesses however, the strengths outweigh them. To begin with, the concept of sustainable development famously culminated in 1987 with the United Nations 'Commission on Environment and Development ' also known as the 'Brundtland Report ' (Everard & Longhurt, 2017; pp. 1244). The article introduced, the most widely known definition of Sustainable development as "Development that meets the needs of the present without compromising the ability of future generations to meet their own needs" (World Commission on Environment and Development, 1987).
Sustainability: If you take a look around at what’s really happening in our world, there’s an inescapable pattern of ‘what’s going on is simply unsustainable’ and in other words, it can’t go on for much longer. Sustainability is to “meet the needs of the present without compromising the ability of future generations to meet their own needs”. As cities began to grow with the population increase, the need for a sustainable development became more apparent as resources began to diminish in quantity and value. Left to it’s own devices, the Earth is a sustainable system.
Sustainable development, as its name suggests, is a concept continually elaborating. The most commonly used definition, according to World Commission on Environment and Development (WCED), is the development which “meets the needs of the present without compromising the ability of future generations to meet their own needs” (WCED, 1987). It shows the importance of considering benefits for both current and future generations and strongly supports economic development, while it also implies when accessing environment and natural resources, human beings tend to take an anthropocentric view, that the primary goal is to satisfy human needs. With no regard for earth as a life-support system, a development will not be considered sustainable. Therefore, by taking economic, social, environmental issues into accounts is a key approach to develop sustainably in different contexts.
