Sustainability and Global Business

What is Sustainability?

Most commonly accepted definition of sustainability:

“Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

United Nation’s Brundtland Commission

2

Max-Neff

Human Needs:

subsistence,

protection,

affection,

understanding,

participation,

creation,

identity and

freedom.

Global Drivers of Sustainability

Increasing Industrialization

Proliferation & Interconnection of Civil Stakeholders

Emerging Technology

Effects of Globalization- poverty, inequity, population explosion

There is a Hierarchy of Outcomes related to Sustainability

Environment

Economy

Society

Social

Economic

Environmental

4

Why discuss this? To give you a comfort with the language and ability to negotiate with it.

Security

Oceans

Urban

Growth

Industry

Energy

Species &

Ecosystems

Population &

Human

Resources

Food

Scarcity

Economy

Sustainable

Development

Areas of focus in Our Common Future, UN World Commission on Environment and Development (1987)

Sustainability = Opportunity

“Welcome to the new world of sustainability. As resource supplies fail to keep up with burgeoning demand, companies will start treating sustainability as a central part of management rather than relegate it to a vaguely defined office of social responsibility. The world as a whole is on the verge of a new wave of innovation in resource management. And as with all innovation, this will create opportunities for companies that can help their customers address these concerns.” ..BCG

Katsuaki Watanabe, CEO of Toyota

“For us to become the genuine number one – in quality – we have to realize the dream vehicle, which makes the air cleaner, never injures people, makes people healthier and can run on a single tank of fuel between London and Istanbul.”

For Discussion (possible essay question):

How is the notion of Innovation (tied to Sustainability) relevant to Freidman’s ideas about competing in a Flat World?

Business Benefits of Sustainability

License to Operate

Cost Reduction or Avoidance

Market Opportunity or Advantage

Employee Engagement

Ability to Seize the Innovation High Ground

Access to Investment Capital

Sustainability and Corporate Social Responsibility (CSR)

Strategies by which businesses and communities seek economic development approaches that also benefit the global and local environment and quality of life

Economy

Jobs, Prosperity, Wealth creation

Environment

Natural Resources Biodiversity

Society

Social Equity

Sense of community

Healthy Ecosystems

Thriving Local Economy

SUSTAINABLE DEVELOPMENT

Sustainable Development Venn Diagram

Triple Bottom Line

TBL“ or “3BL”,

What is TBL?

An expanded spectrum of values and criteria for measuring organizational and societal success – economic, environmental, social.

In the private sector, a commitment to CSR implies a commitment to some form of TBL reporting.

Novo Nordisk TBL

The Triple Bottom Line is made up of “Social, Economic and Environmental”

“People, Planet, Profit ”

People, Planet, Profit

Community

Natural and Built Environment

Individuals

Equity

Economy

Ecology

People

Profit

Planet

SYNERGY

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Why discuss this? To give you a comfort with the language and ability to negotiate with it.

Triple Bottom Line Accounting

Expanding the traditional reporting framework

Take into account environmental and social performance in addition to financial performance.

Company’s responsibility to ‘stakeholders’ rather than shareholders.

Legislation

Legislation permitting corporations to adopt a ‘Triple Bottom Line’ is under consideration in some jurisdictions.

The triple bottom line has been adopted as a part of many companies’ Sustainability Strategy

What is triple bottom line reporting?

􀂃 “At its narrowest TBL reporting is a framework

for measuring and reporting corporate

(organizational) performance against economic,

social and environmental parameters”

www.sustainability.com

􀂃 A move from one dimensional economic

reporting to three dimensional economic, social

and environmental reporting

How is TBL reporting accomplished?

Economic

􀂃 Generally Accepted Accounting Principles

􀂃 Customers

􀂃 Suppliers

􀂃 Employees

Social

􀂃 Bribery and corruption

􀂃 Political contributions

􀂃 Child labor

􀂃 Security practices

􀂃 Indigenous rights

􀂃 Training and diversity

Environmental

􀂃 Energy

􀂃 Water

􀂃 Biodiversity

􀂃 Emissions, effluents, and waste

How organizations strategically manage CSR through triple bottom line reporting

TBL reporting enables organizations to:

􀂃 Measure and manage their financial and non-financial

performance and impacts, or lack thereof

􀂃 Have their performance and impacts verified

independently

􀂃 Communicate effectively with consumers,

governments, investors, employees, other

stakeholders and watchdog groups

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