BUSINESS & SUSTAINABILITY

SUSTAINABILITY DEFINITIONS

‘‘Maximizing the net benefits of economic development, subject to maintaining the services and quality of natural resources over time.’’ (Pearce and Turner; 1990)

‘‘Development that meets the needs of current generations without compromising the ability of future generations to meet their needs and aspirations.’’ (WCED, 1987)

‘‘Sustainable development is an approach that will permit continuing improvements in the quality of life with a lower intensity of resource use, thereby leaving behind for future generations an undiminished or even enhanced stock of natural resources and other assets.’’ (Mohan Munasinghe and Ernst Lutz, 1991)

TRIPLE BOTTOM LINE

The idea of the triple bottom line was devised by John Elkington in 1994, and consists of: people, planet, profit.

He states that we should focus on more than just profit, and instead be aware of our actions and the consequences for the planet and people.

The overall aim is for companies to take account of their social, environmental, and financial impacts and performance.

PEOPLE

PLANET

PROFIT

BE AWARE OF GREENWASHING!

‘‘Greenwashing is the ‘‘act of misleading consumers regarding the environmental practices of a company or its environmental benefits of a product or service – even with the best of intensions.’’ (Friend, 2009)

Greenwashing is when a firm tries ‘‘to convince people that you are doing something which is good for the environment by being involved in small, environmentally friendly initiatives, especially as a way of hiding your involvement in activities which are damaging to the environment.’’ (Kent Mey et al, 2007)

WAYS TO IDENTIFY GREENWASHING

• Questionable certifications• Irrelevant claims • Misleading words or visuals• Claims that have not been proven• Over exaggerating ‘green benefits’• Lack of proof • Claims of being the best

GREENWASH EXAMPLE?

McDonalds

GREENWASH EXAMPLE?

BP Logo changes have more recently focused on a ‘green image’ with a sun

like object reflecting their arguable sustainable awareness

BP In transition of becoming a renewable

energy company. Name change from British petroleum to

Beyond petroleum. However is this hypocritical as a result

of their history of oil spills and controversy?

HOW BUSINESS CAN IMPLEMENT SUSTAINABLE CHANGE1. Location and design

2. Energy

3. Waste

4. Water

1. Location and design:

Choose a location with good transportation infrastructure.

Central to urban areas with wide range of routes.

In warmer climates, buildings should take advantage of solar panels for instance.

Use of clean and innovative materials that have low harmful emissions, are durable, and non-toxic for example.

2. Energy

Energy efficient lighting should be implemented with possible sensors to detect when people are in a room or not.

Insulation will diminish the need for heating oil or gas.

3. Waste

Waste should be sorted accordingly. Paper should be recycled/reused. Printing of emails or documents should be

avoided unless necessary. Purchase of rechargeable batteries more

beneficial than non rechargeable alternatives. Disposal of batteries in the appropriate

manner.

4. Water

The introduction of sensor water taps can save both money and water.

The capturing and reuse of rainfall is another sustainable action which should be utilized by individuals and companies.