Abstract— Sustainable development is one of the most globally debatable concept and a complex goal these days for developing and developed countries as well. Trying to find affordable solutions is one of the most important question that faces international and local bodies since Brundtland commission 1987 till nowadays with the millennium global goals. In this regards, linking sustainable development with business solutions has been addressed in many empirical and theoretical researches. Even though, there is still lacking in many levels of this linking. This issue may even raise a higher concern in post conflict countries around the world.
It was during this period of time where scientists, engineers, entrepreneurs and designers have come together to acknowledge that the world’s resources are not imperishable. The word ‘sustainable’ was derived from the Latin word sustinere, which means to hold up or endure. Thus, sustainability can be defined as the ability to improve the quality of human life while maintaining the well being of the environment. The need of sustainable development was addressed as the consideration for future generations arises. When Industrial Revolution took off, it changes the manufacturing and consumption habit.
Sustainability has become more and more important to the business and the community, the needs of sustainability reporting have been increased also. John Elkington coined an accounting framework in 1997, which called triple bottom line reporting (Vivian 2012). Generating profit is the traditional goal of the business, with triple bottom line reporting, the business not only need to present the economic value of the company, but also the environmental and societal issues (Timothy and Hall 2011). In order to comply with the community expectation, the company should use the most relevant and common indicators, such as Global Reporting Initiative, to provide a good triple bottom line reporting to the public, because it is easier for them to compare
A quick analysis of each line will highlights the aspects. Social Sustainability: having fair and beneficial labour practices and further to this can the company be measured in the impact of the business activities on the local economy and lastly corporate community involvement. Environmental Sustainability: This measures the company’s impact on the
Sustainable development occurs when a society is able to provide all its needs not only for the present but also for its future. It advocates people make an effort which doesn’t only concern for the present but also for the future. Sustainable development doesn’t only include stability on people’s basic needs such as food, water, shelter, etc. but also sustainability in economic growth, eradicating inequalities, social development and such. A society is said to be environmentally sustainable if it’s able to satisfy the basic needs of its people while not compromising its resources which are supposed to be reserved for future needs.
Environmental sustainability seeks to explain the ways in which exploitation and utilisation of the natural resources will not be made to negatively affect the environment or the health of human beings (Kahn 1995). Environmental sustainability considers the ways through which resources will not be used up faster than they are being replenished, and the transition toward low carbon emissions despite the increasing population. Figure 3.1: The Three Pillars of Sustainable Development Source: Kahn (1995) The theoretical framework used by Kahn explains the need to integrate and appropriately co-ordinate the economic, social and environmental units of a country to achieve sustained social and economic development. In other words, to realise qualitative growth rather than
They have committed to the principles of sustainability in their growth model and have taken various steps to help enhancing and conserve natural environment. They believe in creating sustainable solutions to enrich their stakeholder by generating values apart from innovating new product and services to improve quality of life and performance. They have their strong fundamental philosophy of Growth is Energy, Growth is Value, Growth is Happiness, Growth is Life which helps them to shape up their vision towards society. Reliance place sustainable development at the core of their business and aligned their sustainable strategy to their business goals. Their concern for safety, environment, and stakeholders are taken into account during their decision to build and develop projects.
Sustainable communities can be depicted as places where the needs of everyone in the community are met and people feel safe, healthy and ultimately happy our environment is appreciated, protected and enhanced and damage to nature is limited our economy is energetic, business openings are enhanced and our working lives are all the more fulfilling The concept sustainability explores the relation among economic development, quality of the environment and social equity. Policies and strategies for sustainable development should simultaneously promote continuous economic opportunities, enhance environmental fundamentals and focus on the social well-being of the community to ensure an evenly balanced environment. Policies have to advocate
Sustainable development means economic development that is conducted without finishing natural resources. It has broad meaning since it deals with economic development and natural resources. Therefore sustainable development can be defined in various ways in which the researchers discuss. Sustainability as a “development that meets the needs of present without compromising the ability of future generations to meet their own needs” (WCED, 1987). According to Elkington (1997) there are three main pillars of sustainability, economic, ecological and social systems which benefit the future generation this is known as “triple bottom line” concept.
Sustainable development is the development that satisfies the present’s necessities, without compromising the ability of future generations to meet their own needs. It is composed of three main concepts which are, the Social Community, the Economy, and the Environment. All of those three aspects are intertwined,and must be accomplished and handled equally. Each aspect, demands certain priorities. For instance, the social community seeks to terminate gender inequality and aspires to achieve justice worldwide.On the other hand, the sustainability of the economy depends on agriculture and small businesses.