Corporate Sustainability and Economic Performance - Free Samples

Question: Discuss about the Corporate Sustainability and Economic Performance. Answer: Introduction As discussed by Tomi?, Bojnec, Sim?i? (2015), sustainability is defined as the study of how natural system function remains diverse and produce the needs for an ecology to remain in balance. This is also seen with the acknowledgement of the human civilisation for the need of resources to sustain modern way of life. There are numerous examples throughout human history which shows signs of damage done by civilisation to the environment and seriously affected its own survival chances. The urbanisation has led to lot of consumption of natural resources every day. In the urban centres, we consume more power than average. Some of the major reasons for the sustainability has been depicted with the keeping our streets and civic buildings lit, to power our appliances, our heating and other public and household power requirements. The report aims to investigate the areas of long-term environment sustainability which is necessary for both social and economic sustainability. The main attention should be given on the minimising the impact of the environment which is necessary to ensure sustainable social and economic future (Khan, Serafeim, Yoon, 2016). In the world summit on social development of 2005, the three core areas contributing to the viewpoint and social science of sustainable development has been depicted with economic development, social development and environment. These pillars in several national standards and certificate schemes has been conducive in tackling the critical areas that is faces by the world. The report published by the Brundtland Commission has stated that development that meets the needs of the present without compromising the ability of future generations to meet their own needs (Buys, et al., 2014). As stated by Reddy Thomson (2015), Economic Sustainability is implied with a system of production which satisfies the present consumption levels without interfering with the future needs. The sustainability of the economic sustainability is comprised of the sustainability of the economy system itself. The notion of the economic sustainability was first introduced by Hicks. The way to implement the economic sustainability in the practical sense is identified with the method of urban design which meets the urban design and service needs of the public. This is mainly evident in case of urban poor, during the enhancement of the naturalness of the urban environment (Diaz-Chavez, 2014). The economic sustainability is understood with the exercise of sustainability and sustainable design from an intelligent and creative use of the economic resources. The main learnings strive to understand the various type the requirements are seen to be based on creating appropriate value of the intervention which is much higher than the price. The sustainability aspect has been further related to the various types of the aspects which are related to the sustainable development defending the smart and strategic management of budgets. It has been further considered as the decision to consider rational consumption of the achievable sustainable development (Mutisya Yarime, 2014). The main issues pertaining to the economic development is able to prove that in many instances the people disagrees to the political ideology and the way it affects the business. This is seen to be based on the extensions, jobs and employability. The importance of economic development is also discerned with providing more incentives to the business and other organisations for adhering to the sustainability guidelines beyond the normal legislation requirements. The main objective of the economic development is also seen with the fostering the incentives for the average person to do best on their part in the main areas of the business (Yadava Sinha, 2016). The supply and demand market is identified with the supply and demand to be consumerist in modern life thereby requiring a lot of resources in every single day. Economic development is about providing the people what they desire without compromising with the quality of life especially in the developing world and reducing the overall financial burden. Social sustainability is considered with the alleviation of the sustained poverty levels and prevention of natural resource exploitation. The international development organization considered by World Bank and International development organization is seen to be financed by the World Bank and the International Monetary Fund, with an aim to focus on the significant improvements in terms of the developing nations to better their economic conditions, including roads, power plants, and hydroelectric dams. The different types of the consequences of the social and environmental approach has been embodied in the Third World debt crisis and environment deterioration brought by the construction of the large projects which was evident from the 1980s. The sustainability development science has been taken into account with the planners of the development science to apply the evolving notions of the sustainability in the contemporary debate over how cities and regions needs to be reformed, revitalised and redeveloped. The concept of sustainability is regarded with the alternatives pertaining to the means of urban development. In the recent time, it has been common for the planners to describe the efforts to reverse the various type of the issues related to the urban sprawl, congestion and declining nature of urban sustainability. This consideration is evident even though there is no consensus existing with the human settlement embodying sustainability. The urban sustainability is implied with the quality of life of its citizens, or the capacity of nature to support its activities. The reach of economic sustainability of a city is seen with the potential of attaining quantitative aspects to a new level of the socio-economic, technolo gical and demographic output (Cooper, Stamford, Azapagic, 2016). It needs to be further understood that the theory of social sustainability calls for the economic growth which is constrained with the various requirement as per the social equity. The linking of the environment elements needs to be considered with the different types of the factors which are associated to optimization of the environment, optimization of the resources and prioritizing the resource allocation. This has been further able to taken into consideration for the fostering of the equitable resource distribution. In several types of the empirical evidence it has been suggested that the environment sustainability is necessary for the precondition of the sustained economic growth. It is further seen that in several situations the U.S. has been takin several types of the initiatives which are focused on the sustainable growth. There have been several facets of the social development pillar. The most important form of the developmental factor is considered with the awareness of th e legislation protection of the health of people from pollution and various type the harmful activities of the business and other organisations. In North America, Europe and the rest of the developed world, there has been strong checks on the programs of the legislation to ensure people health is taken care with highest priority. The social sustainability is also relevant to the maintaining the basic resources without compromising with the quality of life. The main topic for the people has been seen with the concept of building sustainable housing and how we can sustain with this environment (Asara etal., 2015). The main element of social sustainability education has been related to encouraging the people to participate in the environment sustainability program and teaching them about environmental protection as well as warning of the dangers if we cannot achieve our goals. The concept of environment sustainability is required to maintain the natural capital as the provider of the economic inputs also known as sources, absorber (known as sinks) and economic output known as wastes. At the destination of the source there has been a significant consideration of the harvest rates of the resources which must be limited to the regeneration rates. In waste emissions at the sink sites needs to be ensured that they do not exceed the total capacity of the environment to assimilate without any impairment (Mani et al., 2016). As stated by Santoyo-Castelazo Azapagic (2014), the sustainable development and sustainability is defined with the sustainability of the environment. The protection of the environmental sustainability needs to be considered with a long-term planning aimed at protecting the environment. This is followed with recycling, reducing our power consumption by taking initiatives such as switching devices off rather than putting it in standby. The businesses are seen to be regulated with the presentation of pollution to keep the carbon emissions to a lower level. There has been further seen to be existence of the incentive schemes which has been aimed at the installing renewable power resources at homes and business. The environmental protection is considered with the third important pillar to the primary concerns associated to the future of humanity. The different types of the recommendations to the protection of the environment sustainability for the long-term has been based on protection o f the ecosystems, improving the air quality, bringing integrity and sustainability of the resources and focusing on the elements that place stress on the environment. The environment protection has also stressed on the factors which shows how technology drives green future. As per the recognitions of EPA it has been discerned that developing the biotechnology and technology is the key to the protection of the environment and inculcating sustainability and the resources focusing on the elements putting stress on the environment (Hahn et al., 2015). Serval types of the other empirical evidences has been able to highlight that the significance of the environment sustainability is based on the overlap of sustainability factors and creating linkage among the environmental and economic sustainability. There has been unprecedented attention put on the environmental sustainability in recent years, which has been mostly evident with matters of economic underdevelopment and poverty alleviation in developing countries and several unprecedented threats to the global environment. The protection of the natural systems is seen to represent an overarching panacea for achieving economic vitality and social justice, however there needs to be an adoption for the economic, social and environmental sustainability where the economic and social reforms have an important role. Conclusion The practical application of the environmental sustainability process needs to be adopted towards focusing on the goal of allowing human society to live within the limitations of the biophysical environment. This initiative needs to be interconnected with the economic sustainability and social sustainability for achieving the objective with minimum impact on the environment. References Asara, V., Otero, I., Demaria, F., Corbera, E. (2015). Socially sustainable degrowth as a socialecological transformation: repoliticizing sustainability. Sustainability Science, 10(3), 375384. https://doi.org/10.1007/s11625-015-0321-9 Buys, L., Mengersen, K., Johnson, S., van Buuren, N., Chauvin, A. (2014). Creating a Sustainability Scorecard as a predictive tool for measuring the complex social, economic and environmental impacts of industries, a case study: Assessing the viability and sustainability of the dairy industry. 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