Pillars of Sustainability. Sustainability refers to the ability to maintain or support a process continuously over time. The Oxford dictionary gives the following definition to sustainability: “the use of natural products and energy in a way that does not harm the environment.”4 In business and policy contexts, sustainability seeks to prevent the depletion of natural or physical resources, so that they will remain available for the long term. Simply said, sustainability is the act of using products in a way that it is not harmful or endangering. Since the idea of sustainability is cover in itself many aspects, it is often broken down into three pillars: economic, environmental, and social—also known informally as profits, planet, and people.5 Sustainability is often comprised by three pillars – economic viability, environmental protection and social equity. These pillars are also known as profit, planet and people, or the three Ps. The first pillar, or the concept of "economic sustainability" focuses on conserving the natural resources that provide physical inputs for economic production, including both renewable and exhaustible inputs. The second pillar, the "environmental sustainability" adds greater emphasis on the life support systems, such as the atmosphere or soil, that must be maintained for economic production or human life to even occur. In contrast, the third pillar, the “social sustainability” focuses on the human effects of economic systems, and the category includes attempts to eradicate poverty and hunger, as well as to combat inequality. In this module, the learners will have the opportunity to understand what sustainability is and look in detailed at its three pillars in order to better understand them. They will explore the motivations behind sustainability and begin to see it as a value, shared by many individuals and organizations, who demonstrate this value in their policies, everyday activities and behaviours. In additions the learners will explore additional reading materials on each of the lessons, covered in the module and receive practical suggestions on how they can act now in order to contribute for the greener future in their communities and cities. 4 xxxxx://xxx.xxxxxxxxxxxxxxxxxxxxxxxxxx.xxx/ (visited on 05.12.2022 at 11:39). 5 xxxxx://xxx.xxxxxxxxxxxx.xxx/terms/s/sustainability.asp (visited on 05.12.2022 at 11:34). What will the learner know after completing this module? • The module looks into what sustainability and sustainable lifestyles are. • It e...
Pillars of Sustainability. Lesson 1: The First pillar - Economic viability According to Harvard Business School sustainability in business refers to doing business without negatively impacting the environment, community, or society as a whole.6 If we look the economic viability through this prism, we can draw the conclusion that sustainability in doing business can addresses two main categories, namely the effect a business has on the environment or on society. Faced with global environmental problems, such as global warming, enterprises have become important players in environmental protection. By fulfilling their environmental responsibilities, enterprises can create a good external image and gain support from the public and government, thereby increasing the influence of their enterprises.7 Ideally, a sustainable business will have a positive impact on both these two areas, however if we want to have an economic viability at least one of these two areas has to be positively influenced. Undoubtedly “a project is economically viable if the economic benefits of the project exceed its economic costs, when analyzed for society as a whole. The economic costs of the project are not the same as its financial costs - externalities and environmental impacts should be considered.”8 Nowadays, a growing number of people are aspiring toward lifestyle changes that support increased sustainability for themselves and for the societies in which they live. Businesses have to answer to these demands, which include a shift towards efficient consumption (less waste) among others. The view of responsibility encourages businesses to balance long-term benefits with immediate returns, and the goal of pursuing inclusive and environmentally sound objectives. This covers a broad array of possible practices. Cutting emissions, lowering energy usage, sourcing products from fair-trade organizations, and ensuring their physical waste is disposed of properly and with a smaller carbon footprint would qualify as moves toward sustainability.9 An easy way to apply the first pillar is to follow the Sustainable Development Goals (SGDs) and the Corporate Social Responsibility (CSR) framework. Following the basis of the CSR management will help in the identification of the relevant aspects. On the other hand, the SDGs will help in aligning the ethics of the company with the main global sustainability trends, encompassing both social and environmental dimensions. 6 xxxxx://xxxxxx.xxx.xxx/blog/post/what-is-sustainability-i...
