What is Sustainability?

The most frequently quoted definition is that of the UN World Commission on Environment and Development: "Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs."

In short, it is the integration of environmental health, social equity and economic systems to build a strong society for future generations.

Sustainable practices support ecology, society and economic vitality. Sustainability assumes that resources are limited and that the ways in which they are used must be used prudently and wisely in terms of long-term priorities. In its simplest terms, sustainability is about our children and grandchildren and the world we leave them.

The first event that led to the mainstreaming of the concept of sustainability was the publication of the Brundtland Report in 1987. The concept of sustainability was first used in its current meaning in this report.

This report defines sustainable development as "meeting the needs of the present without compromising the ability of future generations to meet their own needs." The Brundtland Report, published by the United Nations, was the first text to warn about the negative environmental consequences of economic development and globalization, and to offer solutions to the problems arising from industrialization and population growth. Years later, in , the Millennium Development Goals (MDGs) were adopted at the United Nations Summit of the same name.

Sustainability is measured by evaluating the performance of three main principles together, in a balanced manner.

What are the 3 Areas of Sustainability?
There are three main components to the concept of sustainability: environment, social and economic.
1. Environmental Sustainability is the most discussed element. It deals with reducing carbon footprints, water usage, non-degradable packaging and waste processes as part of the supply chain. These processes can often be cost-effective and are important for environmental sustainability.
2. Social Sustainability is about treating employees fairly and ensuring that employees, stakeholders and the community in which a business operates are treated responsibly and ethically. This can be achieved through more responsive benefits such as better parental support, flexible scheduling and learning and development opportunities. Every business should operate using a sustainable workforce that includes fairly paid, adult employees who can operate in a safe environment.
3. Economic Sustainability For a business to be economically sustainable, it must be profitable and generate enough income to continue its operations. The biggest challenge with this form of sustainability is balance. Instead of making money at all costs, companies should continue their processes in line with other elements of sustainability.

In order to successfully achieve a better and more sustainable future, the UN published the “Sustainable Development Goals” in 2016. These goals focus on solving issues such as sustainable development, no poverty, zero hunger, clean water and sanitation, affordable and clean energy, responsible consumption and production by 2030.

What are the Sustainability Goals?
In 2018, the EU Commission listed six steps that need to be taken to achieve the Sustainable Development Goals:

1. The importance of responsible consumption and production, doing more with less, adopting a circular economy and reducing demand,
2. Decarbonizing the energy industry, providing clean and affordable energy for everyone,
3. Creating efficient and sustainable food systems, which can be achieved by increasing agricultural productivity and reducing meat consumption, creating food and clean water systems for everyone while protecting the biosphere and oceans,
4. Smart cities: Urban transformation for the good of the population and the environment, which can be done through settlement patterns, smart infrastructure and internet connectivity,
5. Leading a digital revolution in innovation to support the sustainable development of the world's information technology.

What is Corporate Sustainability?
Corporate sustainability emerged as a component of corporate ethics in response to public concerns about the long-term damage caused by focusing on short-term profits. In the context of business, sustainability means more than environmentalism. Harvard Business School lists two ways to measure sustainable business practices:

1- The business’s impact on the environment
2- The business’s impact on society.

This dual responsibility encourages businesses to balance their long-term goals and pursue inclusive and environmentally responsible goals. Reducing emissions, reducing energy use, sourcing products from fair trade organizations, and ensuring that their physical waste has a smaller carbon footprint are all actions toward sustainability. In recent years, many companies have made such sustainability commitments.

Benefits of Sustainability
Companies that successfully implement sustainability strategies can reap financial benefits as well as environmental and social benefits. Sustainable sourcing can help a company save money and eliminate business concerns in the long run. For example, using more efficient lighting and plumbing fixtures can help a company save on utility bills and improve its public image. There may also be government tax incentives for companies that adopt certain sustainability practices. Sustainability can also make a company more attractive to investors.

The first step in integrating sustainability practices is to identify the weak point. For example, a company may determine that it produces too much waste or that its hiring practices are harming surrounding communities. The company then needs to determine its goals and the metrics it will use. A company may set an ambitious goal to reduce its carbon footprint or a specific percentage target for diversity hiring. This will allow the company to objectively determine whether its goals are being met. The final step is to implement the strategy and evaluate the results. This requires constant reassessment, as a company’s goals may change as the company grows.

Sustainability has many benefits, both in the short and long term. Without more sustainable choices, we cannot protect the planet's ecosystems; fossil fuels will run out, many animal species will become extinct, and the atmosphere will be damaged beyond repair. Clean air, non-toxic atmospheric conditions, reliable resource growth, water quality and cleanliness are the main benefits of sustainability.