What is Sustainability?

Mon, Nov 24, 2008

5. Library

Sustainability in business refers to the way a company’s business practices impact the environment, economy and society. Sustainable business practices reflect a long-term view instead of focusing on short term economic gains. It is also referred to as triple-bottom-line strategy. When a company commits to sustainability, it means that the company’s business decisions will focus on conservation of resources, minimize waste, select environmentally and socially responsible partners and vendors, and provide a financially and emotionally rewarding place to work.

Sustainable business practices reduce operation costs, enhance productivity, and thereby increase profitability. It ensures long-term growth and prosperity. Sustainability saves money, for example, by reducing consumption of resources. It helps attract and retain customers who support businesses that engage in sustainable practices. Federal as well as state governments offer a wide variety of incentives and tax benefits to businesses for practicing sustainability.

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