A Business Case for Sustainability
Regardless of your corporate size or industry Corporate Social Responsibility (CSR) and sustainability will have an impact on the future of your business.
The business case for adopting socially responsible and sustainable business practices is clear, regardless of what industry you are in. Just look at the environmental landscape.
Demand for energy is rising as a result of population growth and changing climate patterns. This is happening when government is pushing for less coal and fossil fuels and more green power.
Where does Sustainability come from?
Sustainability derives from the concept of sustainable development that entered the world in the early 1980’s. It largely comes down to the realization that when making economic decisions, you need to consider the impact of your actions on the environment and on society .
It was an economic theory that stated if you consider things beyond immediate financial returns, it’s good for business in the long-run because a healthier, more vibrant society makes for a healthy economy. In effect, sustainable development was a business model for growth.
Corporate Social Responsibility
Over time, corporate social responsibility (CSR) ethics and the role of business in society,started to co-mingle with sustainability. In today’s world, are are interchangeable terms. So what is considered socially responsible is to care for the environment, to respect the rights of others, especially the vulnerable, and to consider the impact of today’s actions on the future generations.
1. How would you communicate Corporate Social Responsibility to the corporate shareholder’s? What processes would you implement immediately if you were the new Chief Executive Officer?
2. How would you identify the impacts of your company on the environment if you were responsible for the Alberta Tar Sands?
3. Should sustainability be a responsibility of corporations or should we all play a role to protect the environment? Can consumers play an important role in Corporate Social Responsibility?
Article written by: PWC, see pwc.com/ca/private , title of article: A Business Case for Sustainability