Corporate Sustainability

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Description of Corporate Sustainability. Explanation.

 

Definition Corporate Sustainability. Description.


Corporate Sustainability refers to the business approach by companies to consider not only economical needs in their strategies and practices, but also environmental and social needs. It is the opportunity for businesses to improve their profitability, competitiveness, and market share without compromising resources for future generations. Compare also Porter's Shared Value concept which goes one step further in this respect.


Public criticism, enabled by powerful mass media, has made some level of care for the environment and refraining from dubious accounting practices and from operating "sweatshops" in developing countries part of the strategy of even the most die-hard financially oriented firms.


Leading sustainability companies show high levels of competence in addressing global and industry challenges in a variety of areas:

  • Strategy. Integrating long-term economic, environmental and social aspects in their business strategies while maintaining global competitiveness and brand reputation.

  • Financial. Meeting shareholders' demands for sound financial returns, long-term economic growth, open communication and transparent financial accounting.

  • Customer & Product. Fostering loyalty by investing in customer relationship management and product and service innovation that focuses on technologies and systems, which use financial, natural and social resources in an efficient, effective and economic manner over the long-term.

  • Governance and Stakeholder. Setting the highest standards of corporate governance and stakeholder engagement, including corporate codes of conduct and public reporting.

  • Human Resources. Managing human resources to maintain workforce capabilities and employee satisfaction through best-in-class organizational learning and knowledge management practices and remuneration and benefit programs.

Donald A. Lubin and Daniel C. Esty recommend in HBR May 2010 to do 2 things simultaneously  to gain an advantage from the sustainability megatrend:

  1. Get the vision right
    • Stage 1: Do old things in new ways
    • Stage 2: Do new things in new ways
    • Stage 3: Transform core business
    • Stage 4: new business model creation and differentiation
  2. Get the execution right
    1. Elevate sustainability leadership  from departmental to C-level
    2. Update methods and models (Scenario Planning, business case analysis, trend spotting) to encompass environmental sustainability.
    3. Include green stakeholders (NGO representatives, academics, government officials) in strategy development
    4. Integrate management (integrate sustainability objectives into compensation models, performance reviews, etc)
    5. Change reporting and communication from ad hoc into sustainability scorecards that enable benchmarking, best practice comparisons

Corporate sustainability performance is an investable concept. This is crucial in driving interest and investments in sustainability to the mutual benefit of companies and investors. As this benefit circle strengthens, it will have a positive effect on the societies and economies of both the developed and developing world.
 

One of the critically important issues in sustainability is that of human overpopulation combined with human lifestyle. A number of studies have suggested that the current population of the Earth, already over six billion, is too many people for our planet to support sustainably at current material consumption levels. This challenge for sustainability is distributed unevenly. The ecological pressure of a US resident is said to be 13 times that of a resident of India and 52 times that of a Somalian resident.


Special Interest Group - Corporate Sustainability


Special Interest Group (254 members)


Forum - Corporate Sustainability  

In the forum section you will find recent discussions within this knowledge area.


  Why Does CSR Attract Customers? (1 reactions)
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  Fair Trade Labels: A Good Step?
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  Three Main Weaknesses in Corporate Sustainability Governance
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  Supply Chain Sustainability
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  Hotel Sustainability: Put Humans in Focus (1 reactions)
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  How to Invest in Sustainable Portfolios
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  Issues with Creating Sustainable Workplaces
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  Why is Business / Corporate Sustainability Important? (1 reactions)
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  Every Cent of Earning is not the Holy Grail
A facet of sustainability, in my understanding, is the wisdo...
 
 
 
 
  Sustainability Reporting Should be Made Mandatory by Law
If Corporate Sustanability has to happen, sustainability rep...
 
 
 
 
  Reasons for Omitting Sustainability Reporting
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  Overcoming Barriers to Corporate Sustainability (CS) (15 reactions)
According to Robert G. Eccles and George Serafeim in their a...
 
 
 
 
  PROs and CONs of Sustainable Development: Which One Wins? (1 reactions)
Sustainable Development (SD) is often seen as something that...
 
 
 
 
  Sustainability and Quality Management System Go Hand in Hand
Reducing consumption both of raw-material and energy or incr...
 
 
 
 
  Sustainability of Corporations, Industries and Nations
Meaning of Sustainability: an entity's ability to grow and m...
 
 
 
 
  Investigate the PROCESS Impact on Sustainability: not Just the MATERIALS Used!
Often the impact on ENERGY far outweighs the Materials selec...
 
 
 
 
  Waste-Free Production: Cradle to Cradle (6 reactions)
In order to combat climate change, saving production resourc...
 
 
 
 
  10 Ways to Become a Socially Responsible Organization
Newlands (2017) sums up ten points helping firms to becom...
 
 
 
 
  Cool Corporate Sustainability Quote
“There is no Planet B.”
Unknown
Spotted in a nice ...
 
 
 
 
  Corporate Sustainability Frameworks? (5 reactions)
Can anyone please help me with a corporate sustainability mo...
 
 
 
 
  The Effect the Increasing Rate of Change is Having on Corporate Sustainability (2 reactions)
The problem is corporate sustainability is becoming harder a...
 
 
 
 
  Sustainability Goals Needs to Be Articulated in Financial Terms
The success of any program depends upon proper articulation ...
 
 
 
 
  The Role of Stock Markets in Corporate Sustainability
For any organization to succeed in this market situation, sh...
 
 
 
 
  Sustainability is a Pipe Dream (4 reactions)
There is no such thing as sustainable. Maintenance of someth...
 
 
 
 
  Corporate Sustainability in India (2 reactions)
Corporations in India are under growing pressure from intern...
 
 
 
 

Best Practices - Corporate Sustainability

In the best practices section you will find the best forum discussions within this knowledge area.


  Why Should Firms Invest Strategically in Sustainability? (12 reactions)
Businesses are increasingly implementing sustainability in t...
 
 
 
 
  How to Improve Popularity of Remanufactured Products? (13 reactions)
DEFINITION
Remanufacturing refers to the “pro...
 
 
 
 
  The Impacts of Environmental Regulations on Competitive Advantage
The study of environmental regulations and its impact on com...
 
 
 
 
  Causes of the Gap Between Good Intentions and Actual Results of Corporate Sustainability Practices (1 reactions)
Companies are increasingly addressing sustainability by inco...
 
 
 
 
  Challenges of Sustainability Certification (1 reactions)
Sustainability certification is being used globally as a met...
 
 
 
 
  Substantive Corporate Sustainability versus Symbolic Corporate Sustainability
Due to increased awareness that people nowadays have about e...
 
 
 
 
  Reasons for Sustainability Innovation (10 reactions)
A lot of attention has been paid to sustainability over the ...
 
 
 
 
  Factors in Implementation of Environmental Management
Some companies decide to implement Environmental Management ...
 
 
 
 

Expert Tips - Corporate Sustainability

In the expert tips section you will find advices from experts within this knowledge area.


 

3 Main Views to Achieve Sustainable Development

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3 Types of Pro-environmental Behaviour

Corporate Sustainability, Green Marketing...
 
 
 

Corporate Sustainability Committee

Corporate Responsibility, Corporate Sustainability, Strategic Innovation, Corporate Governance...
 
 

Resources - Corporate Sustainability

In the Resources section you will find powerpoint presentations, micro-learning videos, articles, news items, etc. within this knowledge area.


Sustainable Leadership: Leading in Sustainability

Corporate Sustainability, Leadership Styles...
 

Exceptional Speech by then 13 year-old Severn Suzuki at the UN, 2008 on Environmental and Social Responsibility

Environmental Responsibility, Social Responsibility...
 

Planetary Boundaries: The Need for Sustainability

Corporate Sustainability, Climate Change, Planetary Boundaries...
 

How to Design and Build Sustainable Supply Chains

Sustainability, Supply Chain Management...
 

Packaging and Sustainable Packaging (In-depth)

Sustainable Business, Environmental Sustainability, Packaging...
 

Materialism. Causes, Consequences and Remedies

Corporate Sustainability, Consumerization...
 

Outsourcing to Global Business Service Providers and Sustainable Development

Globalization, Outsourcing, Sustainable Development...
 

Pursuing Corporate Sustainability Through Fair Trade

Corporate Social Responsibility, Corporate Sustainability, Fair Trade...
 

Sustainable Manufacturing

Sustainable Business, CSR, Environmental Sustainability...
 

Paperless Workplaces: Reasons, Practices and Difficulties

Corporate Social Responsibility, Corporate Sustainability, Paperless Office...
 

Creating Triple Bottom Line Awareness: An Introduction

Triple Bottom Line, Corporate Sustainability...
 

Sustainability Reporting

Triple Bottom Line, Corporate Sustainability...
 

Supply Chain Sustainability

Triple Bottom Line, Supply Chain Management...
 

Climate Change and Fossil Fuels: Introduction Into Divest Invest

Corporate Sustainability, Sustainable Investment, Asset Management...
 

Sustainability and CSR as Business Case

Sustainable Business, Environmental Sustainability, CSR...
 

Sustainability and Tourism: Geotourism

Sustainable Business, Environmental Sustainability...
 

Dealing with Climate Change and Resource Scarcity: a Pivot Strategy

Corporate Sustainability, Strategy, Pivot Strategy...
 

Creating Inclusive Business Models

Business Models, Corporate Sustainability, International Development, Investing in Africa...
 
 

News about Corporate Sustainability


     
 

Videos about Corporate Sustainability


     
 

Presentations about Corporate Sustainability


     
 

Books about Corporate Sustainability


     
 

More about Corporate Sustainability


     

Compare with: Corporate Transparency  |   Corporate Accountability  |  Corporate Responsibility  |  Intrinsic Stakeholder Commitment  |  Strategic Stakeholder Management  |  Triple Bottom Line  |  Shareholder Value Perspective  |  Stakeholder Value Perspective  |  Bottom of the Pyramid  |  Public Relations  |  Environmental Insurance  |  Whistle Blower  |  Cultural Dimensions  |  Strategic Intent  |  Ashridge Mission Model  |  Clarkson Principles  |  Moral Purpose  |  Seven Surprises  |  Spiral Dynamics

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