There has been a tidal wave of companies committing to “sustainability.” we describe what corporate (or business) sustainability means, why it matters, and how to make it part of your business.
Corporate sustainability comes from the concept of “sustainable development” which was coined in 1987. This simply means economic development that meets the needs of present generations without compromising the needs of future generations.
Businesses are in the business of creating wealth, but they have to do so without overconsuming natural resources. To do this, they must consider three key things in their operations:
First, they need to treat employees and communities well. Second, they need to use natural resources responsibly.
And lastly, they must invest in the long term.
Seems simple, right?
Well, if it were, then we wouldn’t be in the mess that we are in right now.
Here are three steps that will take your company on the sustainability journey.
First, you need to look inside of your company and get things in order. Include sustainability criteria in all your decisions and make it a part of your culture.
Second, work with your suppliers and with your customers to ensure that they use and dispose your products responsibly.
Third, reach out to your local community and other key stakeholders to ensure that you are a good corporate citizen.
One company alone can’t create sustainable development, because issues like climate change and poverty are so big.
Everyone needs to be involved. And, being green and good has real rewards for companies. It creates value and attracts investors and employees.
Corporate sustainability can also create a world in which everyone can flourish, on a planet that is resilient and rich with biodiversity.
