Making Sustainability Work in the Business World

990 Words4 Pages
Protecting the environment has become an important issue in today’s society. There is no longer any doubt that businesses should consider their social responsibility and the impact of their activities on their stakeholders. In addition, firms are beginning to realize that corporate sustainability can prove to be a win win. There are multiple benefits of sustainability linked to costs, revenues, community relations, and more. The decision to strive for sustainability is obvious, but this process is easier said than done. Developing a sustainability strategy is difficult in itself, but the most challenging factor is the actual implementation. Marc J. Esptein, the author of Making Sustainability Work: Best Practices in Managing and Measuring Corporate Social, Environments, and Economic Impacts, provides companies with tactical methods and approaches, as well as real life examples and personal advice in order to assist in helping companies with achieving corporate sustainability.
Epstein introduces a new framework for implementing corporate sustainability. He states the by addressing the nonfinancial aspects of business, companies can improve the bottom line and earn superior returns. Sustainability can be broken down into nine principles. These components include ethics, governance, transparency, business relationships, financial return, community involvement and economic development, value of products and services, employment practices, and protection of the environment. All of these sections should be considered while working towards corporate sustainability.
It is critical that everyone within the company is committed to the overall goal and holds him or herself accountable. Primary elements of being accountable include employ...

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...can be a disadvantage, it can also serve as an advantage. Each department is able to drastically contribute through areas like procurement, R&D, marketing, production, legal, management accounting, and financial reporting and auditing.
Is highly unlikely that any company has fully integrated or achieved sustainability, but numerous companies have taken important steps forward. Companies are endlessly working to improve their sustainability performance and reduce their negative social and environmental impacts. Whether corporations are choosing sustainability on their own, or they are subject to external pressures, businesses are on the correct path. With such a large impact on society, businesses have a great deal of influence that they can use to kick start progress. The environment has been abused long enough and it is time for businesses to take accountability.
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