Sustainability
| The CSR Group LLC on Sustainability |
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| What does sustainability mean for the business community? |
Originally, conversations about sustainability focused on environmental issues. For example, a company interested in making its operations more sustainable would seek the cleanest technologies and processes in each step of its supply chain. While environmental consciousness remains at the center of sustainability, in recent years the definition has expanded to include a triple bottom line that evaluates a company’s performance based on its social, economic and environmental impacts. |
| Why are a growing number of companies seeking a higher level of sustainability? |
There are a number of benefits for companies pursuing sustainability in their operations. In a survey of 140 major U.S. corporations, 90% of corporations engaged in sustainable business practices do so to enhance their corporate reputation. More importantly, sustainable business practices have a direct impact on the economic bottom line. By seeking cleaner technologies, improved labor relations, and meaningful community engagement, corporations avoid costs associated with expensive pollution mitigation, work stoppages and legal conflicts. |
| What are companies doing to improve their sustainability? |
The same survey, conducted by PriceWaterhouseCoopers, revealed that 32% of respondents currently issue sustainability reports. Reporting is a critical first step because it requires a company to define sustainability, adopt evaluation criteria and take a hard look at its own sustainability record. Among respondents undertaking sustainability activities, the following were the most common:
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Leaders
of the governmental, nongovernmental and private sectors gathered in
Johannesburg in August 2002 for the World Summit on Sustainable Development.
As delegates grappled with issues of sustainable development, the role
of sustainability in the private sector was of particular importance.