Sustainability is the ability to maintain a process over time without depleting its natural or physical resources. It is often broken into three core concepts: economic, environmental, and social.
Many businesses are integrating sustainability practices into their operations to help protect the environment and improve human health. These efforts have a positive impact on the company’s bottom line, as well. Companies that make sustainable choices save money on utility bills, reduce waste and pollution, and may be eligible for government tax incentives. Additionally, the public perceives companies that prioritize sustainability as environmentally responsible and ethical.
The primary goal of sustainability is to preserve the earth’s resources for future generations. It focuses on issues like climate change, reducing pollution, creating dynamic community infrastructure and guaranteeing gender equity. The United Nations Brundtland Commission defined sustainability in 1987 as “meeting the needs of the present without compromising the ability of future generations to meet their own.”
For example, reducing a business’s energy use can improve its profitability, while lowering greenhouse gas emissions cuts costs and enhances employee morale. Similarly, combating wildlife poaching can’t result in the sale of an actual product, but it can bring in revenue from wilderness safaris and other eco-tourism excursions. Incorporating sustainability into business practices is vital for the planet, and it can also enhance a company’s reputation among its customers, employees and investors.