Sustainability And Its Impact On Society, Environment And Economic Performance

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“Sustainable development is development that meet the needs of the present without comprising the ability of future generations to meet their own needs.”(World Bank,2001) All the choices and the actions that we make today will cause effect in the future. Sustainability is closely related to corporate social responsibility. It can effect the companies’ development and reputation. As a result, more and more companies are pay attention to sustainability when they doing activities to developing the companies. These represent activities have a direct impact on society, environment and economic performance. The conflicts between the social, economic and environmental need to be balanced to ensure sustainability. “Sustainability accounting is a…show more content…
Many companies take actions however just focus on environment and labor-rights issues.”(Hower,2013) This essay will use Nestle as an example to analysis the Gray’s opinion. Related literature “In 2002, Gray already stated that the real danger we face today is that there is lots of talk about something which nobody is doing, can do or wants to do in sustainability reporting. There is an awful lot of talk and very little action. Don 't believe what you read, and social and environmental accountability will remain a "nice idea" until there is substantive legislation requiring it of all large organizations.”(Gray,2002) Many companies really do follow sustainable practices. However, some make such claims without any facts to back them up. For example, Green-washing. “Greenwashing Index defines as when a company or organization spends more time and money claiming to be 'green ' through advertising and marketing than actually implementing business practices that minimize environmental impact. It’s whitewashing, but with a green brush."(Burg,2013) These companies actually make limited contribution to developing sustainability. Such as Coca-Cola, “according to the consumer report, they think Coca-Cola accusing Coca-Cola of “green-washing”, because their new Plant Bottle Marketing overstated environmental benefits. There had no proof that these product offers any positive effect in regards to reducing CO2 emissions.”(Zara,2013) Except Gray, some other professors had the
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