Sustainability Reporting Essay

When talking about sustainability numerous people associate it with just protecting the environment. Sustainability is far more than going green, but it is a principle that many companies have adopted and have worked persistently to improve over the last several years. Sustainability is defined as the ability to continue a behavior indeterminately, but it also includes improving human life overall. Sustainable development is broken down into three pillars: economic, social, and environmental (Harich & Bangerter, 2014). Economics is the study of how people use resources, which correlates to the goal of sustainable development by using resources to their full potential (Laszlo, C., & Zhexembayeva, N., 2011, p. 60). Economic sustainable development allows companies to give their customers what they want without overusing mutual resources. Social development combines the social world with the physical realm to provide a good quality of life (Benoit, 2010, p. 7). Social sustainability focuses on the well-being of people and their communities. Environmental development, the most recognizable, includes protecting the environment by reducing pollution, recycling, switching of electronic devices when not in use, etc. All three of these pillars make up what is known as sustainable development. In this paper, I researched a company and their involvement in sustainability and how it applies to the

This report examines the new world of sustainability reporting, and the complex web of stakeholders. It focuses particularly on the demands for new kinds of transparency which serve the interests of the environment and society.

Sustainability from a strategic business perspective is the potential for the long-term well-being of the natural environment, including all biological entities, as mutually beneficial interactions among nature and individuals, organizations, and business strategies. (O.C Ferrell, Fraedrich, Ferrell, 2015). Business sustainably is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. (Business sustainability definition from financial times lexicon, no date). This essay will discuss the idea of sustainability being an important element within a businesses and its core strategies and the importance of it within different businesses. Secondly, this study will look at how different stakeholders are affected and influenced by sustainability as this could be seen as a catalyst to improving the environment as a whole and. Then this study will look at how businesses not focusing

The Triple Bottom Line (TBL) accounting concept and framework was first created by John Elkington in the mid 1990’s, and has since changed the way for-profit, non-profit and government agencies measure the sustainability of their initiatives and company. The TBL framework is flexible and can be adopted and molded based on the specific needs of an organization. The framework is comprised of three parts, which are: social (People), environmental (Planet), and financial (Profit), commonly referred to as 3Ps. This framework does spark debate regarding the ethical problems behind measuring, quantifying and accounting for social and environmental variables, which is often not supported by many

It provides the stakeholders’ of a particular organization with information regarding their business activities such as its “impacts on the economic” factors of society, “environment” and “social community” (Carlon 2016). Companies often choose to supply their stakeholders with a sustainability report as its main purpose is to “improve internal processes, engage stakeholders and persuade investors” (Wikipedia 2016) which will in turn build the company’s overall success. This means that it could result in more efficient operations, attract and obtain potential employees, expand the size of its current target market and appeal to prospective investors.

TBL is a sustainable model for business that balances financial success, community participation together with ecological sustainability. The firm which employs triple bottom line towards capturing the set significances, processes as well as issues of the company might decrease and determine whichever harms resulting from company’s operations then create economic, social as well as environmental values of that the company. The model typically outlines that everything is supposed to taken into account that needs of the company 's shareholders, employees, stakeholders, governments, clients, business partners, local communities together with the entire public. Reporting through Triple bottom line (TBL) is currently turning out to be more ordinarily used across several sectors within

Sustainability With the increase in global warming, sustainability and resilience plays a very important role. Sustainability is usually defined as meeting “the needs of the present without compromising the ability of future generations to meet their own needs” (Hudson 2013). Resilience is the ability of a system to withstand disturbances and continue to function in a sustainable manner (Tagtow et al., 2014). The office of sustainability brings the SF State community together to work towards a more sustainable, resilient, and efficient campus. The three main areas which I got attracted to, as a dietetic student are as follows: Energy efficiency: SF State is focused on reducing energy use on campus and procuring renewable energy and it has surpassed its goal of reducing overall energy use by 15% by 2010 as compared to 2003.

Melting glaciers, depleting water resources and decreasing air quality needs immediate attention. Everyone needs air and water to survive. Business started practicing sustainable accounting in mid-70. This practice discloses non-financial and financial information related to the business activities that has direct impact on society and its environment (air, water, people etc.). Companies use triple bottom line method to calculate the impact of business activities on society and based on these calculation companies makes policies which make its operation more ecologically and socially

Sustainability is defined as the ability to endure.(1) Though the idea of sustainability can be applied to most anything from a sustainable ecosystem that has survived thousands of years to a sustainable workplace that uses green technologies. Paul Hawken captured today’s connotation of sustainability in saying “Sustainability is about stabilizing the currently disruptive relationship between earth’s two most complex systems—human culture and the living world.” (2) There are countless ways to live, work, and produce sustainably. Sustainability not only needs to be practiced by citizens, but businesses need to join the green movement as well. Without creating, following, and enforcing green policies, negative effects will be evident and innumerable

Robbins Elementary, an urban school located in a large city in Texas, has defied the odds by attaining and sustaining high academic success rates for an approximate twenty-year time period. As Okilwa and Barnett (2017) noted, Robbins Elementary had grown to become homogeneous in race (majority Hispanic) and economic status (increased economically disadvantaged status). According to the article (Okilwa & Barnett, 2017), 2013 census data revealed that 50% of families in Robbins Elementary attendance zone earned less than $35,000 annually, with a median income of $35,282. Assumptions regarding high-need schools would, undoubtedly, portray Robbins Elementary as a school that would struggle academically with high teacher and principal

The idea of sustainability has become an increasingly common term in the rhetoric surrounding business ethics, as corporates are gaining broader acknowledgement of this pro-active method which guarantees business long-term viability and integrity by focusing on the triple bottom line. In business, the three aspects of sustainability include social, economic and environment.

This is usually in reference to the resources of our environment so that future generations will be able to live like we have. In terms of business, sustainability can be defined as having minimal negative impact on the global or local environment, community, society, or economy. The triple bottom line is a framework, or measure, of sustainability made up of three parts: social, environmental, and financial. These three divisions are also referred to as the three P’s: people, planet, and profit and in turn are the three pillars of sustainability. The idea behind the triple bottom line concept is that companies are primarily responsible to all of their stakeholders, including everyone involved directly or indirectly with the company, as well as this planet. The triple bottom line concept is an improvement in the strategy plans of a manager over the old concept of a single bottom line for a few reasons. The triple bottom line concept has changed the way businesses measure sustainability and the performance of policies. The flexibility of the triple bottom line concept also allows businesses to apply the concept in a way that is most beneficial to their specific needs. It can also improve more than just a business’s financial line, it can improve the way people treat others within an organization as well as reduce their

We started our research by finding a bank (Bank of America) that is moving towards sustainability but has not started to apply these concepts into their financial institution. We decided that Bank of America should focus on all the aspects of sustainability meaning they should have a strong role in being environmentally friendly, they should be socially sustainable, and should be economically sustainable. In our research, we looked at two major things: the process of any company becoming sustainable and how a bank should become sustainable in the financial world. We then decided the exact tasks that we want Bank of America to do and began more research on each specific area.

TBL is a sustainable model for business that balances financial success, community participation together with ecological sustainability. The firm which employs triple bottom line towards capturing the set significances, processes as well as issues of the company might decrease and determine whichever harms resulting from company’s operations then create economic, social as well as environmental values of that the company. The model typically outlines that everything is supposed to taken into account that needs of the company 's shareholders, employees, stakeholders, governments, clients, business partners, local communities together with the entire public. Reporting through Triple bottom line (TBL) is currently turning

Sustainability is regarded as a goal of any business. The accounting framework, to support sustainability goal is called as the triple bottom line (TBL).It focus on performance of an organization with the interrelated dimensions of profits, people and the planet.