Sustainability is more than just a “buzz word” for the global business community. International market leaders recognize that sustainable strategies, practices and tools can help organizations gain competitive advantage, increase market share and boost shareholder value.
We know that sustainable development should provide for current needs without sacrificing those of future generations, as well as sustainable activities should require a careful evaluation of how present decisions will affect future economies, societies and natural resources.
Companies have many practices and tools that help translate their aspiration for sustainability into practical, effective solutions; moreover, the growing demand for greener products and services creates opportunities for a new generation of open minded sustainability leaders and more environmentally and socially responsible eco-entrepreneurs and green investors.
Three simple questions can help implementing a sustainable behavior into daily operations.
1) First of all, we need to ask ourselves: What is Sustainability?
Sustainability generally refers to the influence that an organization can have in three main areas: environment, society and economy.
A company’s Bottom Line is usually measured in terms of its financial performance, while sustainability requires to consider the “Triple Bottom Line” based also on key environmental indicators and social factors.
In the decision making process towards sustainability profit and nonprofit organizations can use different approaches; but, the most recognized guidelines are the “Triple Bottom Line”, or “The Natural Step System”.
This second methodology is based on the following core principles:
- Reduce waste and reliance on nonrenewable energy and natural resources.
- Decrease synthetic compounds use, and reusing or recycling materials.
- Meet basic human needs with equitable resource distribution.
There are at least six key aspects to start out approaching sustainability on the right foot:
- Understand specific sustainability topics from a business perspective.
- Incorporate the principle of sustainability into everyday business activities.
- Take into account business opportunities arising from sustainable development.
- Recognize how financial services industry approaches sustainability.
- Learn how businesses are forging working partnerships with lobby groups.
- Improve training to incorporate sustainability into core business strategies.
We help our clients and partners address the most pressing economical, political, social and environmental challenges. If you want to learn more about our sustainability practices, please Contact Us for an initial introductory consultation to discuss what management and communications systems you may need for complete sustainability legislative and regulatory compliance, and better measurement and reporting of TBL performance.