Corporate Sustainability
Corporate Sustainability
The Forum for Sustainable and Responsible Investment. “Sustainable Investing Basics.
Sustainability is often defined as meeting the needs of the present without compromising the ability of future generations to meet theirs. A company implements sustainable practices by reducing its consumption of limited resources or finding alternative resources with fewer environmental consequences.
Pillars of Corporate Sustainability
The three pillars are also informally referred to as people, planet, purpose, and profits.
The Environmental Pillar
The environmental pillar often receives the most attention. Many companies are focused on reducing their carbon footprints, packaging waste, water usage, and other damage to the environment. One of the challenges with environmental issues is that a business’s impact isn’t always clearly discernible.
The Social Pillar
The social pillar ties to the concept of social license. A sustainable business should have the support and approval of its employees, stakeholders, and the community in which it operates. How such support is secured and maintained varies but it comes down to treating employees fairly
The Economic Pillar
The economic pillar of sustainability is where most businesses feel they’re on firmer ground. This pillar is sometimes called the governance pillar. It refers to boards of directors and management aligning with shareholders’ interests as well as those of the company’s community, value chains, and customers.
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