What is the basis of sustainability?
The concept of sustainability is composed of three pillars: environmental, social and economic—also known informally as profits, planet, and people.
Environmental protection. It is concerned with the reduction of carbon footprints, water usage, non-decomposable packaging, and wasteful processes as part of a supply chain.
Social development. It is about ensuring responsible, ethical and fair treatment of employees, stakeholders and the society in which the company operates. This can be achieved through better maternity and paternity benefits, flexible hours, training and development opportunities et cetera Economic development.
The challenge with this form of sustainability is achieving equilibrium. Rather than making money at any cost, companies should attempt to generate profit in accordance with other elements of sustainability.