Sustainable business

Sustainable business is an enterprise that aims to engage in business activities while minimizing negative impacts on the global or local environment, community, and society. Such businesses aim to achieve the triple bottom line: profit, people, and the planet, by integrating environmental, economic, and social considerations when making business decisions. Sustainable businesses often adopt practices that promote environmental protection, and long-term economic growth.

A green business is characterized by four pillars: First, the business incorporates environmentally friendly products or services that reduce the demand for harmful products and services, and may contribute to conserving natural resources. Second, the business preserves financial capital through responsible and efficient business models. Third, the company focuses on social responsibility by upholding human rights. Finally, it emphasizes cultural sustainability by supporting inclusion and respect for local and global communities.

Context

The concept of sustainable business developed within discussions of sustainable development in the late 20th century. In 1987, the World Commission on Environment and Development published Our Common Future, a report focused primarily on public policy and international development. Ultimately, this publication influenced private-sector perspectives and approaches to environmental management and long-term use of resources.

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