Importance Of Sustainability In Business

996 Words 4 Pages
The idea of sustainability to business has become an increasingly common term for corporates as this pro-active method guarantees business long term-term viability and integrity, it can be defined as the quality of not being harmful to the ecosystem so we can support long-term ecological equilibrium. In the world of business, it also refers to the triple bottom line: ‘people, profit and planet’ (John Elkington, 1994) Presently, global warming is reaching an astounding record high that actions are necessary in the business environment in order to secure the future. While some firms become sustainable because of their individual values, many still need to be convinced that there are benefits other than ethics to include sustainability in their business plan. For instance, corporations have to carry out eco-efficient practices to create improved outputs and maintain a sustainable future in relation to its goods, people, services and the community around it. This includes focusing on the three aspects of sustainability: social, economic and environmental.
According to the World Commission on Environment and Development ‘Sustainable development
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Presently, majority of corporates have had to become aware of the importance of environmental and ethical issues in sustainable development. (Donaldson, T, Werhane, P.H. and Cording, M, 2002) Many multinational corporations such as Coca Cola and Nestle; two worldwide famous beverage corporates in food and agriculture industry are amongst the most successful in terms of positioning sustainability as their development goal, although either of them has distinct environmental policies.
According to Forbes magazine ’Nestle once again sits at the top of the food industry thanks to the $92 billion in revenue and $9.4 billion in profit’ As the world’s largest food manufacturer,Nestle publishes ‘Nestle Policy on the Environment’ in

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