Sustainability is about making sure that we can continue to enjoy the resources that our society relies on – from food to clean air to life saving medicine. It is also about ensuring that we don’t cause lasting damage to the planet, whether through pollution or over-consumption. Unsustainable practices have been the cause of many environmental disasters in history, from introducing alien species that upset the natural balance to cutting down too many trees at once. It is now widely accepted that the Earth has a limit on its resources and it is important that we don’t exceed this limit (10).
The word Sustainability is often used to refer to the three pillars of Environmental, Social, and Economic sustainability – sometimes known as People, Planet, Profits. This is because businesses that are sustainable conserve natural resources and have enough revenue to survive for the long-term. This includes reducing waste and pollution, supporting diversity and fairness in the workforce, and enacting policies that help the community.
A business that prioritizes Sustainability can gain a competitive advantage by differentiating itself in the marketplace. In addition, many sustainability initiatives have a bonus effect of improving operational efficiency for the company. For example, using ENERGY STAR-certified equipment or purchasing office supplies that are recycled can reduce operating costs. A business that emphasizes Sustainability can also attract and retain employees, as many job seekers place a high value on the concept of corporate social responsibility.
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