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WHAT IS THIS

The concept of sustainability, rooted in the 1987 United Nations Brundtland Report, focuses on ensuring that the needs of the present generation are met without compromising the ability of future generations to meet their own needs. This principle revolves around three pillars of wellbeing: economic, social, and environmental:

1. Economic Wellbeing: Economic wellbeing focuses on ensuring that societies have stable economies, providing jobs, fair wages, and economic opportunities for all people. It involves creating financial systems that support prosperity without harming the environment or society's social fabric. Economic wellbeing promotes financial stability, economic growth, and equitable access to resources.

2. Social Wellbeing: Social wellbeing emphasises the importance of strong, inclusive communities where people have access to education, healthcare, and social services. It focuses on fostering equality, social justice, and a sense of belonging among diverse groups. Social wellbeing supports fair treatment, human rights, cultural preservation, and community engagement, ensuring everyone's basic needs and rights are met.

3. Environmental Wellbeing: Environmental Wellbeing centres on the health and preservation of the natural world. It involves protecting ecosystems, conserving resources, and mitigating pollution and climate change. Environmental wellbeing promotes sustainable practices, biodiversity, clean air and water, and the responsible use of natural resources. It ensures that present and future generations can thrive in a healthy and balanced environment.

These three pillars were developed as “a gradual emergence from various critiques in the early academic literature of the economic status quo from both social and ecological perspectives on the one hand, and the quest to reconcile economic growth as a solution to social and ecological problems on the part of the United Nations on the other” ’Three pillars of sustainability: in search of conceptual origins’ (Purvis, Mao and Robinson, 2018)

They work together to create a harmonious and balanced society. By addressing these aspects collectively, societies can achieve a sustainable future where economic prosperity, social equity, and environmental health coexist for the benefit of all.

Sustainability and Climate Change

Sustainability's three pillars are essential in the context of climate change to build resilience, mitigate climate risks, and foster a sustainable future in the face of the challenges posed by climate change. In recent years, we have seen climate change to gain significant publicity and urgency in its prominence in public discourse due to the immediate and far-reaching impacts it poses on the planet and its inhabitants. There have been several contributing factors which have highlighted its critical nature over and above general sustainability concerns:

• Global Urgency: Climate change is a worldwide crisis impacting nations, ecosystems, and communities. The urgency arises from the tangible effects experienced globally, including extreme weather events, rising sea levels, and disrupted agriculture. These changes directly impact lives and demand immediate action.

• Scientific Consensus: The overwhelming agreement among scientists regarding human-induced climate change has raised awareness and spurred action. Reports from reputable organisations like the Intergovernmental Panel on Climate Change (IPCC) stress the urgency of reducing greenhouse gas emissions to limit temperature rise, emphasising the need for swift and substantial measures.

• Youth and Activism: Youth-led climate movements, exemplified by Greta Thunberg's Fridays for Future, have galvanised global attention. Young activists have effectively raised awareness, inspiring millions to join climate strikes and demand action from governments and corporations. Their advocacy has significantly contributed to the intensified focus on climate change.

• Crisis Events: High-profile climate-related events, such as hurricanes, wildfires, and droughts, have become more frequent and severe due to climate change. These events capture media attention, highlighting the immediate consequences of global warming. First-hand experiences of these devastating impacts fuel growing concern and calls for solutions.

• Policy and International Agreements: Initiatives like the Paris Agreement have united nations in the collective fight against climate change. Countries' commitments to reduce emissions and transition to renewable energy underscore the seriousness of the issue. Widely implemented policies and regulations further emphasise the urgency of addressing climate change.

• Business and Investor Pressure: Recognising the financial risks associated with climate change, businesses and investors are integrating climate considerations into their strategies. Ethical concerns and the acknowledgment of climate-related risks to supply chains, operations, and investments drive corporate awareness. This corporate consciousness reinforces the urgency of climate action.

An Indigenous World View

Indigenous worldviews offer unique perspectives on sustainability, deeply rooted in a profound connection with nature and a holistic understanding of the interdependence between humans and the environment. Incorporating Indigenous worldviews into discussions and decisions about sustainability can enrich global efforts, providing diverse perspectives and holistic approaches that respect and preserve the natural world for generations to come. Here are some key aspects of Indigenous worldviews as they relate to sustainability:

why this is CRITICALLY important

Sustainability is crucial because it protects the environment by reducing pollution and conserving resources, ensuring a healthy planet for future generations. It promotes fairness by supporting fair wages, safe working conditions, and community development. Economically, it saves businesses money through efficient practices and opens up new markets. Sustainability also encourages innovation and ethical responsibility, showcasing a company's commitment to a better world. Ultimately, it's about ensuring a balanced and prosperous future for everyone by preserving nature, supporting communities, and fostering long-term, responsible practices.

HOW WE DO IT : THE METHODOLOGIES AND MODELS

In today's fast-paced business world, sustainability provides a set of guiding principles, which reshape how organisations operate in a rapidly changing landscape. The three pillars of sustainability—economic, social, and environmental wellbeing—serve as a compass, guiding businesses toward responsible practices that ensure long-term success while minimising adverse impacts on society and the planet.

Sustainability & Environmental Social Governance (ESG)

Environmental, Social, and Governance (ESG) has coevolved as a corporate framework along with sustainability to offer a structure for evaluating a company's impact on the environment, society, and its governance practices. By working in unison with sustainability's three pillars, ESG has become a powerful tool, complementing organisational sustainability commitments. It ensures that businesses not only focus on profitability (economic pillar) but also uphold social equity and environmental responsibility, aligning with the broader goal of sustainable development.

This synergy between sustainability and ESG not only enhances corporate accountability but also fosters a holistic approach to business, where economic growth, social wellbeing, and environmental stewardship are integrated seamlessly into strategic decision-making processes. As organisations increasingly recognise the importance of aligning with these principles, they are better positioned to thrive in a world where ethical, sustainable practices are not just a choice but a necessity for a resilient and responsible future.

ESG Assessments, Frameworks, Models and Certification Pathways

Numerous frameworks, models and certification pathways help to facilitate transparent reporting and strategic planning, ensuring that companies operate ethically and responsibly. These frameworks, models, certifications and approaches play a vital role in shaping a sustainable and socially conscious global economy, guiding businesses toward a future where profitability harmonises with ethical and environmental stewardship.

What follows is a snapshot some of the assessments, frameworks, models and certification pathways used by businesses today to responsibly invest, transparently report, and adopt sustainable best practices to reduce their environmental footprint, and contribute positively to society and the planet.

ASSESSMENTS

Environmental Impact Assessments:

1. Biodiversity Assessment: Evaluates the impact of business operations on biodiversity, promoting conservation and sustainable land use. Addresses environmental impact, ensuring preservation of biodiversity and ecosystems.

2. Carbon and Greenhouse Gas (GHG) Emissions Assessment: Measures a company's carbon footprint and GHG emissions, identifying sources and reduction opportunities. Addresses environmental impact by quantifying and mitigating greenhouse gas emissions.

3. Water Footprint Assessment: Evaluates a company's water usage, including consumption and pollution, promoting efficient water use. Addresses environmental impact by conserving water resources and responsible wastewater management.

Social Impact Assessments:

1. Social Impact Assessment: Assesses social impact on communities, workers, and stakeholders, focusing on human rights and labor practices. Ensures fair treatment of employees, respecting human rights, and fostering positive community relationships.

2. Labor and Employment Practices Assessment: Evaluates labor practices, ensuring fair wages, safe working conditions, and equal employment opportunities. Focuses on social aspects, promoting fair treatment of employees and adherence to labor laws.

3. Human Rights Impact Assessment: Identifies human rights risks and impacts associated with a company's activities, products, or services. Ensures respect for human rights in all business operations, promoting social justice.

4. Ethical Sourcing and Responsible Procurement Assessment: Evaluates ethical practices of suppliers, ensuring sourcing from responsible and sustainable partners. Promotes ethical business practices, supporting fair trade and preventing exploitation.

Supply Chain and Governance Assessments:

1. Supply Chain Sustainability Assessment: Evaluates sustainability practices of suppliers, ensuring ethical sourcing and transparent supply chains. Ensures ethical supply chain practices, preventing issues like forced labour and child labour.

2. Corporate Governance Assessment: Evaluates governance structure, board composition, and adherence to ethical business practices. Ensures transparency, accountability, and ethical decision-making at the corporate level.

FRAMEWORKS AND MODELS

Environmental Focus:

1. Carbon Neutral/Net Zero Initiatives: Focuses on reducing and offsetting carbon emissions. Key aspects: measuring carbon emissions, sustainable practices, and investments in carbon offset projects.

2. Carbon Disclosure Project (CDP) Guidance: Focuses on carbon emissions disclosure, climate risks, and water management strategies for investors and supply chain partners.

3. Carbon Pricing Mechanisms: Imposes a price on carbon emissions, encouraging businesses to reduce their carbon footprint. Methods include carbon taxes and cap-and-trade systems.

4. Circular Economy: Minimises waste by designing products for longevity, recycling, repurposing, and waste reduction in production and consumption cycles.

5. Cradle to Cradle (C2C): Designs products with a closed-loop lifecycle approach, emphasising material health, reutilisation, renewable energy use, water stewardship, and social fairness.

6. ISO 14001: Environmental Management System (EMS): Focuses on environmental impact reduction, compliance, resource efficiency, and stakeholder engagement.

7. Natural Capital Protocol: Assesses and values a company’s environmental impacts and dependencies, identifying natural capital dependencies, risks, and opportunities.

8. RE100: Encourages companies to commit to using 100% renewable energy, significantly reducing carbon emissions.

9. Renewable Portfolio Standards (RPS) and Feed-in Tariffs (FiTs): Mandate or incentivise the use of renewable energy sources, driving the transition from fossil fuels to clean energy.

10. Science-Based Targets Initiative (SBTi): Helps companies set emission reduction targets aligned with the Paris Agreement's goal.

11. Streamlined Energy and Carbon Reporting (SECR): Mandates carbon and energy reporting for large UK companies, focusing on greenhouse gas emissions, energy use, and energy efficiency measures.

Social Focus:

1. Global Reporting Initiative (GRI) Standards: Focuses on sustainability reporting and transparency. Key aspects: economic, environmental, and social impacts, stakeholder engagement, and materiality assessment.

2. International Finance Corporation (IFC) Performance Standards: Sets environmental and social standards for private sector projects. Key aspects: assessment and management of environmental and social risks and impacts in investment projects.

3. Leadership in Energy and Environmental Design (LEED): Certifies green building practices, emphasising sustainable site development, water savings, energy efficiency, materials selection, and indoor environmental quality.

4. Marine Stewardship Council (MSC) Certification: Ensures seafood comes from sustainable, well-managed sources globally, promoting responsible fishing and marine ecosystem preservation.

5. Rainforest Alliance Certification: Focuses on sustainable agriculture, preserving biodiversity, ensuring workers' well-being, and supporting local communities worldwide.

6. SA8000: Focuses on social accountability, ensuring ethical sourcing, fair treatment of workers, and compliance with international labor standards globally.

Integrated Focus (Economic, Social, and Environmental):

1. B Corp Certification: Balances profit and purpose, emphasising social and environmental performance standards. Focus areas: corporate governance, workers' rights, community impact, and environmental stewardship.

2. Dow Jones Sustainability Index (DJSI): Benchmarks economic, environmental, and social criteria for leading global companies.

3. Integrated Reporting (IR) Framework: Combines financial and sustainability information, providing a holistic view of the organisation’s performance, including financial, social, environmental, and governance aspects.

4. Triple Bottom Line (TBL) Accounting: Measures economic, social, and environmental performance, ensuring a balanced consideration of financial, social equity, and environmental responsibility.

5. UN Principles for Responsible Investment (PRI): Integrates ESG factors into investment decisions, promoting sustainable practices.

6. UN Sustainable Development Goals (SDGs): Addresses global challenges outlined by the United Nations, including eradicating poverty, promoting clean energy, ensuring clean water, and fostering climate action.

Climate Change Focus:

1. The Paris Agreement: International treaty aiming to limit global warming well below 2 degrees Celsius and pursue efforts to limit the increase to 1.5 degrees Celsius above pre-industrial levels.

2. Task Force on Climate-related Financial Disclosures (TCFD): Focuses on disclosing climate-related risks, conducting scenario analysis, and integrating climate strategies.

CERTIFICATION PATHWAYS

• B Corp Certification: Recognises businesses globally for comprehensive social and environmental impact, emphasising stakeholders' welfare alongside profit.

• Carbon Neutral Certification: Verifies a company's efforts in reducing and offsetting carbon emissions, showcasing environmental responsibility.

• Carbon Trust Standard: Acknowledges organisations globally making tangible progress in reducing their environmental impact, focusing on carbon, water, and waste management.

• Cradle to Cradle (C2C) Certification: Evaluates products globally for their impact on human and environmental health, promoting design emphasising reuse and recyclability.

• Fair for Life: Combines strict social and fair trade standards adaptable to local conditions globally, emphasising fair working conditions and environmental responsibility.

• Fair Trade Certification: Ensures fair prices for products, safe working conditions, and minimised environmental and social impact in developing countries, applicable internationally.

• Forest Stewardship Council (FSC) Certification: Guarantees products are from responsibly managed forests globally, offering environmental, social, and economic benefits.

• Green Seal Certification: Recognises a wide range of sustainable products and services in the United States, indicating adherence to rigorous environmental and performance standards.

• Leadership in Energy and Environmental Design (LEED): Certification for sustainable building design and construction, encouraging eco-friendly practices globally.

• Marine Stewardship Council (MSC) Certification: Ensures seafood comes from sustainable, well-managed sources globally, promoting responsible fishing and marine ecosystem preservation.

• Rainforest Alliance Certification: Focuses on sustainable agriculture, preserving biodiversity, ensuring workers' well-being, and supporting local communities worldwide.

• The Climate Neutral Certification: Verifies a company's measurement, reduction, and offsetting of its entire carbon footprint, achieving climate neutrality globally.

• The Zero Waste Certification: Certifies companies diverting at least 90% of waste from landfills worldwide, emphasising waste reduction and sustainable resource management.

• UL Environment (EcoLogo): Recognises products with reduced environmental impact globally, offering a global identification for environmentally preferable choices.

In the tapestry of our global existence, sustainability stands as the vibrant thread weaving economic prosperity, social equity, and environmental stewardship into the fabric of our shared future. Rooted in the foundational principles outlined by the 1987 United Nations Brundtland Report, sustainability encapsulates a vision where the needs of the present harmonise effortlessly with the aspirations of the future.

This imperative resonates with urgency as we confront the challenges of climate change. From undeniable scientific consensus to the unwavering dedication of youth activists and the timeless wisdom of Indigenous cultures, the call for sustainable practices echoes globally. It is a call answered not just in words but in actions, as businesses integrate Environmental, Social, and Governance (ESG) principles with sustainability, forging a path toward ethical and responsible practices. Companies embracing these certifications not only symbolise progress but also herald a new era where corporate responsibility isn't a choice but an ethos.

Together, as custodians of our planet's future, we embark on this continuous journey, ensuring that our shared legacy is one of resilience, empathy, and a harmonious coexistence with the Earth.

Researched and written by Rebecca Agent with editorial support from Grammarly (English AUS) and ChatGPT

This post is also on Medium

WORKS CITED

Brundtland, G. (1987). Report of the World Commission on Environment and Development: Our Common Future. Retrieved from UN Sustainable Development: https://sustainabledevelopment.un.org/content/documents/5987our-common-future.pdf

Purvis, Mao and Robinson (2019). Three pillars of sustainability: in search of conceptual origins, Sustainability Science Magazine, Vol 14. Retrieved from Research Gate: https://www.researchgate.net/publication/327404334_Three_pillars_of_sustainability_in_search_of_conceptual_origins

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