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What is Sustainable Development? > Framework for understanding the concept
Definitions
Why is it important?
Framework for
understanding the concept
Sustainability issues
Sustainability codes of practice
Why is it important?
Framework for
understanding the concept
Sustainability issues
Sustainability codes of practice
Framework for understanding the concept
The definitions of sustainable development provided above are very broad and not particularly helpful to business. The need for organisations to adopt a more balanced approach to economic prosperity, social progress and environmental quality is often referred to as the triple bottom line. This triple bottom line model, often referred to as “People, Planet, Profit” presents the simplest framework for understanding sustainable development.
From a business perspective, sustainability is about business success. It is about adopting strategies that will not only ensure long term financial success but will also drive social prosperity and progress as well as reduce environmental degradation.
The definitions of sustainable development provided above are very broad and not particularly helpful to business. The need for organisations to adopt a more balanced approach to economic prosperity, social progress and environmental quality is often referred to as the triple bottom line. This triple bottom line model, often referred to as “People, Planet, Profit” presents the simplest framework for understanding sustainable development.
From a business perspective, sustainability is about business success. It is about adopting strategies that will not only ensure long term financial success but will also drive social prosperity and progress as well as reduce environmental degradation.
