Sustainable Development: Explaining The Components Of Sustainable Development

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The concept of sustainable development was introduced by Brundtland Report in 1987 (Williams, Wilmshurst, & Clift, 2011) while emphasizing our common future that recognize to protect the earth to save the humanity from manmade destructive activities(Krechovska & ProchazKova, 2014). With the aim of achieving so forth goal, sustainable development has given importance on the three fundamental components such as economic growth, environmental protection and social equity (Williams, Wilmshurst, & Clift, 2011). According to the world summit on sustainable development (WSSD, Johannesburg, 2002), sustainable development should be an optimal goal for the institutions at the national, regional and international stages and three important elements of socio-economic dimensions such as economic development, social development and…show more content…
When corporations conserves the principles of sustainable development, it would ensure balance long term sustainable development considering social and environmental development. Whatever, only economic development does not mean long term sustainable development. Corporate sustainability is the process of the best business practices and investment strategy with the aim of optimally minimize the needs of stakeholders (Afzal, Lim, & Prasad, 2017). Sustainable operations such as environment friendly activities and strategies are taken to build the equitable society indicate whether corporations are how much sustainable. Therefore, sustainability dimension such as economic growth is the result of sacrificing environmental and social impacts of the corporate activities, so that sustainable growth may be the economic growth with the reduction of environmental and social impacts of corporate activities (Mehedi,
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