Sustainability

Definition: Sustainable Development

Sustainable development refers to the ability to meet the needs of the present generation without compromising the ability of future generations to meet their own needs. It involves adopting practices and strategies that balance social, economic, and environmental considerations, aiming to create a harmonious and enduring equilibrium between people, the planet, and prosperity.

Source: The Brundtland Report, also known as “Our Common Future,” published by the World Commission on Environment and Development in 1987, introduced the term “sustainability” and defined it as follows: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” The report was chaired by Gro Harlem Brundtland, a former Prime Minister of Norway, and is considered a landmark in the field of sustainability and environmental policy.

Let’s start the course by diving into the fascinating world of sustainability and uncovering its incredible potential for shaping a better future for all. Sustainability is all about finding ways to meet the needs of the present without compromising the ability of future generations to meet their own needs. It’s like a beautiful dance, balancing social well-being, economic prosperity, and environmental health.

Sustainability is a powerful concept that encompasses our responsibility to preserve and protect the world we live in for present and future generations. It revolves around the idea of living in harmony with nature, considering the social, economic, and environmental impacts of our actions. We care about sustainability because it is essential for ensuring a thriving and equitable world. By practicing sustainable principles, we can minimize the depletion of natural resources, reduce environmental degradation, and address pressing global challenges like climate change, poverty, and inequality. Sustainability is not just about safeguarding the planet; it’s about fostering a resilient society, promoting economic prosperity, and valuing the well-being of all living beings. As individuals, businesses, and communities, we have a shared responsibility to embrace sustainability and create a positive impact, leaving behind a legacy of compassion and responsible stewardship for generations to come.

The Sustainable Development Goals (SDGs)

The United Nations’ Sustainable Development Goals (SDGs) are the guiding stars in this journey. They’re like a roadmap, helping us navigate the path toward a more sustainable world. These 17 global goals tackle critical issues like poverty, hunger, education, climate change, and so much more. By focusing on the SDGs, we can work together to create meaningful change and improve the lives of people around the world.

Watch this video to learn more about the SDGs.

Sustainability Illustrated. (2020, November 20). Sustainable development goals explained with 3 useful tips | Environment SDG sustainability [Video]. YouTube. https://youtu.be/qfOgdj4Okdw

Now, let’s take a closer look at the three pillars of sustainable development: social, economic, and environmental. Picture them as the strong foundation supporting the sustainable future we envision.

  1. The social pillar emphasizes the importance of human well-being, equality, and inclusivity. It’s about creating thriving communities where everyone has access to opportunities and resources.
  2. Next up is the economic pillar. This one is all about ensuring economic growth and prosperity while also considering ethical and responsible business practices. We want businesses to thrive, but not at the expense of people or the environment. It’s about finding that sweet spot where prosperity is shared by all.
  3. Ah, and here comes the star of the show: the environmental pillar! This one is a real game-changer. It’s all about preserving our beautiful planet, the one and only Earth. From reducing carbon emissions to protecting biodiversity, the environment is at the heart of sustainability. Because let’s face it, without a healthy planet, none of the other pillars can truly stand tall.

These three pillars are sometimes referred to as the three pillars of sustainability but they actually refer to sustainable development. Take a minute to study this graphic. How do the SDGs align with the three pillars of sustainable development?

 

So, why are these pillars so vital? Well, they’re like interconnected gears in a clock, working harmoniously to create a sustainable future for everyone. When social well-being, economic prosperity, and environmental health are in sync, we can create a world where people can thrive, businesses can flourish, and the planet can continue to support us.

Corporate Social Responsibility (CSR)

We’ll now turn our attention to Corporate Social Responsibility (CSR) and its intersection with sustainability. CSR refers to a company’s commitment to conduct business in a socially responsible and ethical manner, considering its impact on society and the environment. This includes initiatives to support communities, promote sustainability, and uphold human rights.

Definition: Corporate Social Responsibility (CSR)

CSR (Corporate Social Responsibility) is a business approach that emphasizes a company’s responsibility to address its impact on society and the environment beyond its financial bottom line. It involves integrating ethical, social, and environmental considerations into a company’s operations and decision-making processes. CSR aims to promote sustainable practices, contribute to the well-being of communities, and address social and environmental challenges.

Source: The International Organization for Standardization (ISO) provides a widely recognized definition of CSR in its ISO 26000:2010 guidance standard. ISO 26000 defines CSR as “the responsibility of an organization for the impacts of its decisions and activities on society and the environment, through transparent and ethical behavior that contributes to sustainable development, including the health and welfare of society, takes into account the expectations of stakeholders, is in compliance with applicable law and consistent with international norms of behaviour, and is integrated throughout the organization and practiced in its relationships.”

ISO 26000 is a globally recognized standard that provides guidance on social responsibility and CSR for organizations of all types and sizes. It outlines principles and guidelines for businesses to adopt responsible practices and contribute positively to society and the environment.

CSR and sustainability intersect in their focus on a company’s impact on society and the environment:

  • Shared Goals: Both aim to minimize negative impacts on people and the planet while promoting long-term well-being.
  • Triple Bottom Line: CSR and sustainability both align with the Triple Bottom Line—People, Planet, Profit.
  • Long-Term Focus: CSR focuses on long-term social and ethical responsibility, while sustainability emphasizes environmental stewardship.
  • Corporate Strategy: CSR is often part of ethical strategies, and sustainability integrates into operations.
  • Reporting: Both use similar frameworks like ESG and SDGs to track their impact.

Together, they drive responsible business practices. This video provides a good explanation of CSR.

HBS Online. (2022, March 25). What is corporate social responsibility (CSR)? [Video]. YouTube. https://youtu.be/ZoKihFLCY0s

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Exploring Sustainability Copyright © 2024 by Sobey School of Business, Saint Mary's University is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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