Corporate Sustainability

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Definition Corporate Sustainability? Meaning.

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.

Forum Forum about Corporate Sustainability. Below you can ask a question about this topic, share your experiences, report a new development, or explain something. Start a new topic about Corporate Sustainability Share your knowledge here (or ask a question)   Why Should Firms Invest Strategically in Sustainability? Businesses are increasingly implementing sustainability in their operations. However, some executives remain somewhat reluctant to put sustainability at the heart of their business strategy, mainly be... 25   16 comments Waste-Free Production: Cradle to Cradle In order to combat climate change, saving production resources and returning old products to a useful life sound like very good ideas. But they are tough to accomplish in practice. HISTORY OF CRADL... 15   7 comments The Scope of your Sustainability Strategy You should investigate the total PROCESS impact on Sustainability: Not just the MATERIALS used! Often the impact on ENERGY far outweighs the Materials selected when it comes to sustainability. Use a... 15   1 comments ESG Factors: How Firms Attract Conscious Investors ESG Factors is an umbrella term used by (professional) investors that refers to: E - Environmental and Energy related issues (Corporate Sustainability) S - Social or Societal issues and concer... 11   5 comments Causes of the Gap Between Good Intentions and Actual Results of Corporate Sustainability Practices Companies are increasingly addressing sustainability by incorporating CSR programs in their business models. The result is an increase in reported improvements in corporate practices. However, accordi... 8   1 comments Why Does CSR Attract Customers? Hughes (2017) mentions several reasons why focusing on sustainability and tackling social issues will expand your customer base: RATIONAL: As a result of a deliberate intellectual decision. EMOT... 8   1 comments The Impacts of Environmental Regulations on Competitive Advantage The study of environmental regulations and its impact on competitive advantage has in the past literature led to inconclusive results. There are two main views that contradict each other: 1. The Trad... 8   Challenges of Sustainability Certification Sustainability certification is being used globally as a method by which a third party assesses norms and standards with regard to environmental, social and ethical issues. Producers of certified prod... 8   1 comments Factors in Implementation of Environmental Management Some companies decide to implement Environmental Management (EM) while other companies don't. Oberhofer and Furst (2013) looked at the implementation of EM in the transport sector. But first, they out... 7   10 Simple Ideas to Start with Going Green and Sustainability Environmental issues have not always been at the forefront of many companies but there has been a distinct turnaround since the formation of NGOs such as GreenPeace. And with the voice of Greta Thunbe... 7   16 comments Sustainability: What Should we Be Focused On? The range of responses to environmental, social and economic sustainability by businesses varies from denial to avoidance to wholehearted incorporation in purpose and activities. Should we be focused... 6   8 comments Supply Chain Sustainability Most companies have now realised that sustainability can result in streamlined processes and long-term business success, even on a financial level. What is more interesting, however, are those busines... 6   Top Sustainability Quotes The best one I've ever seen is: "There is no Planet B." Unknown Spotted in a nice little shop called "Natura" in Girona, Catalonia, Spain. Do you know another good quote related to (corporate) s... 6   Why is Business / Corporate Sustainability Important? Managing businesses in a sustainable way is playing a major role in: 1. SOCIETY - to address the social conditions that affect us all, including poverty, violence, injustice, education and public hea... 5   1 comments Three Main Weaknesses in Corporate Sustainability Governance Although leadership is critical in the design and implementation of Corporate Sustainability (CS) programs, many companies still lack knowledge on how the board of directors should behave in the overs... 5   Sustainability and Quality Management System Go Hand in Hand Reducing consumption both of raw-material and energy or increasing efficiency will help in improving sustainability. The essence of any quality management system is remove re-work i.e. do it right fir... 5   10 Ways to Become a Socially Responsible Organization Newlands (2017) sums up ten points helping firms to become more socially responsible, leading to longer-term relationships with increasingly responsible customers: DEVELOP A SOCIAL MISSION: next to ... 5   How to Invest in Sustainable Portfolios Investments are more and more trying to align their investments with their values. They have begun to think differently about potential investments portfolios, and are increasingly willing to invest i... 5   Fair Trade Labels: A Good Step? Efforts to produce fair products have started long ago. In the late 18th century, attempts to boycott sugar from the West Indies were already made to fight against slavery. Today, the fair trade movem... 5   Issues with Creating Sustainable Workplaces Business are increasingly focused on creating a more sustainable workplace for their workforce. A comfortable work environment is related to happier, healthier, more creative and more productive emplo... 5   1 comments Every Cent of Earning is not the Holy Grail A facet of sustainability, in my understanding, is the wisdom to recognize and the energy to enforce superior interests which are not directly related to the success or failure of an endeavor in order... 5   Hotel Sustainability: Put Humans in Focus It always saddens me to see how often sustainability in the hotel industry is actually led by engineers, projects are being considered mechanical, like the energy consumption or the sewage system. Ho... 5   1 comments PROs and CONs of Sustainable Development: Which One Wins? Sustainable Development (SD) is often seen as something that can be harmful for an organization at first sight. There are several reasons for this (disadvantages of sustainable development). 1. ... 4   1 comments 🔥 NEW Corporate Sustainability Framework by Eccles and Serafeim Here's a brief summary of the 4-stage sustainability strategy framework by Eccles and Serafeim: 1. IDENTIFY the most critical ESG issues in your type of business. 2. QUANTIFY the financial impact of... 4   Reasons for Omitting Sustainability Reporting Higgins et al. (2012) have researched Sustainability Reporting (SR) in organizations. The authors elaborate on five reasons why companies do not report on their sustainability (social/environmental pe... 4   Sustainability Reporting Should be Made Mandatory by Law If Corporate Sustanability has to happen, sustainability reporting has to be made mandatory like Corporate Social Responsibility in India for those companies earning a net profit of more than Rs. 5 cr... 4   Overcoming Barriers to Corporate Sustainability (CS) According to Robert G. Eccles and George Serafeim in their article "Innovating for a Sustainable Strategy" (HBR May 2013), most large companies have some kind of sustainability program underway, but m... 4   15 comments Strategies to Contain Environmental Degradation Many countries the world over have struggled to contain environmental degradation with laws and regulations. Some have gone to encourage ISO certification by companies. The idea of going green has bee... 3   1 comments The Role of Stock Markets in Corporate Sustainability For any organization to succeed in this market situation, short term goals like donation for community or reducing emissions will not help. Sustainable development is a long term investment for the g... 3   Sustainability is a Pipe Dream There is no such thing as sustainable. Maintenance of something always requires energy input whether it's actual energy like electricity, management effort, money or other resources. It's a pipe dream... 3   4 comments Corporate Sustainability in India Corporations in India are under growing pressure from internal and external stakeholders to achieve corporate sustainability and consider the economic, environmental and social implications of their a... 2   2 comments Sustainability Goals Needs to Be Articulated in Financial Terms The success of any program depends upon proper articulation of its long-term objective(s), meticulous planning to achieve the same, establishing a capable team and empowering them. In sustainability ... 2

Best Practices The best, top-rated topics about Corporate Sustainability. Here you will find the most valuable ideas and practical suggestions. How to Improve Popularity of Remanufactured Products? DEFINITION Remanufacturing refers to the "process of disassembling, cleaning, inspecting, repairing, replacing, and reassembling the components of a part or product to like-new condition" (Thorn and ... 14   13 comments Substantive Corporate Sustainability versus Symbolic Corporate Sustainability Due to increased awareness that people nowadays have about environmental issues, many companies have started sustainability programs. - Truly realizing such sustainability campaigns is called taking ... 7   Reasons for Sustainability Innovation A lot of attention has been paid to sustainability over the last decade. In an article, Schaltegger and M. Wagner try to clarify when sustainable entrepreneurship emerges (what TRIGGERS it) and when i... 7   10 comments

Expert Tips Advanced insights about Corporate Sustainability. Here you will find professional advices by experts. 4 Levers to Pursue a Dual Corporate Purpose CSR, Impact on Society, Balancing Financial and Social Goals, Dual Purpose These is a slow but steadily increasing trend for corporations to diminish their single-minded pursuit of shareholder va... 3 Main Views to Achieve Sustainable Development Sustainable Development, Corporate Sustainability, Sustainable Society There are many views on the type of changes, but also about the tools and actors required to achieve sustainable develop... Corporate Sustainability Committee Corporate Responsibility, Corporate Sustainability, Strategic Innovation, Corporate Governance Even if the interest for and significance of Corporate (Social) Responsibility (CSR) and Corporate Sustainability (CS) h... How to Inject Corporate Purpose Into Corporate Governance Enacting Purpose, Organizational Purpose Implementation, Corporate Sustainability, ESG, SCORE Framework Many models and frameworks have been created wrt Corporate Responsibility and ESG. But how can you actually make it happ... HRM’s Role in Corporate Social and Environmental Sustainability Sustainable HRM, CSR, Environment, SHRM FOundation Sustainable HRM is the utilization of HR tools to help embed a sustainability strategy in the organization and the creat... 3 Types of Pro-environmental Behaviour Corporate Sustainability, Green Marketing Lee, Kim, S. Kim, M. And Choi (2014) describe that there are actually three different types of pro-environmental behavio...

Information Sources Various sources of information regarding Corporate Sustainability. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops. Sustainable Leadership: Leading in Sustainability Corporate Sustainability, Leadership Styles Presentation about Sustainable Leadership, including the following sections: 1. Sustainable development 2. History of ... Exceptional Speech by then 13 year-old Severn Suzuki at the UN, 2008 on Environmental and Social Responsibility Environmental Responsibility, Social Responsibility At the United Nations Conference on Environment and Development 2008, a 13 years old child, speaking for ECO, the Enviro... Planetary Boundaries: The Need for Sustainability Corporate Sustainability, Climate Change, Planetary Boundaries This presentation is about existing planetary limits and the necessity for a more sustainable world. The presentation in... How to Design and Build Sustainable Supply Chains Sustainability, Supply Chain Management The presentation elaborates on ways to develop sustainable supply chains. The presentation includes the following sectio... Packaging and Sustainable Packaging (In-depth) Sustainable Business, Environmental Sustainability, Packaging In-depth presentation about packaging and sustainable packaging. The presentation is very extensive and uses head sectio... Materialism. Causes, Consequences and Remedies Corporate Sustainability, Consumerization Presentation about materialistic values and how this affects the environment. The presentation includes the following se... Outsourcing to Global Business Service Providers and Sustainable Development Globalization, Outsourcing, Sustainable Development This presentation covers the issue of globalization of services, thereby emphasizing business process outsourcing and IT... Pursuing Corporate Sustainability Through Fair Trade Corporate Social Responsibility, Corporate Sustainability, Fair Trade Presentation about Fair Trade, one of the many forms of Corporate Social Responsibility and achieving Sustainability. Th... Sustainable Manufacturing Sustainable Business, CSR, Environmental Sustainability This presentation makes the business case for sustainability in the manufacturing sector. The presentation includes the ... Paperless Workplaces: Reasons, Practices and Difficulties Corporate Social Responsibility, Corporate Sustainability, Paperless Office This presentation elaborates on the creation of paperless workplaces in the digital age, and includes the following sect... Creating Triple Bottom Line Awareness: An Introduction Triple Bottom Line, Corporate Sustainability This presentation elaborates on the concept of the Triple Bottom Line. The presentation has many interesting slides with... Sustainability Reporting Triple Bottom Line, Corporate Sustainability This presentation comments on Triple Bottom Line accounting and reporting. The presentation includes the following secti... Supply Chain Sustainability Triple Bottom Line, Supply Chain Management Sustainability in supply chains, including the following sections: 1. Overview 2. What is demand chain? 3. The supply... Climate Change and Fossil Fuels: Introduction Into Divest Invest Corporate Sustainability, Sustainable Investment, Asset Management This presentation provides an introduction into the concept of Divest Invest, and includes the following sections: 1. C... Sustainability and CSR as Business Case Sustainable Business, Environmental Sustainability, CSR This presentation provides valuable insights on the business case for sustainability and CSR. It includes the following ... Sustainability and Tourism: Geotourism Sustainable Business, Environmental Sustainability Geotourism This presentation is about Sustainability in Tourism, also called Geotourism. The presentation contains some... Dealing with Climate Change and Resource Scarcity: a Pivot Strategy Corporate Sustainability, Strategy, Pivot Strategy Climate change and non renewable and renewable resource scarcity are challenges with a big impact on global welfare and ... Creating Inclusive Business Models Business Models, Corporate Sustainability, International Development, Investing in Africa Presentation that provides an introduction into inclusive business models, especially focusing on (agri) businesses in ...

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