In the broad sense, “sustainability” is about maintaining well-being far into the future. This concept has been expressed by the UN’s Brundtland Commission¹ which defined sustainable development in 1987 as “the ability to meet the needs of the present without compromising the ability for future generations to meet their own needs.”

Businesses that aspire to operate sustainably often recognize that they need strong ecosystems and societies in order to be financially successful. In this context, “sustainability” means balancing environmental, social, and economic spheres. Rather than seeing “sustainability” as a limitation, some companies view it as a source of opportunity, innovation, and competitive advantage.

One example ^{More needed} of corporate sustainability can be found in Novozymes, one of the largest producers of industrial enzymes for the renewable fuels sector. It aligns its business practices with a so-called triple bottom line, in which it reports to shareholders on its financial, environmental and social responsibilty results, thereby ensuring that it is taking responsibility for sustainable development.

References:

¹ UN Report of the World Commission on Environment and Development: Our Common Future