{"id":47,"date":"2019-06-17T20:44:37","date_gmt":"2019-06-17T20:44:37","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/?post_type=chapter&#038;p=47"},"modified":"2026-03-05T20:00:05","modified_gmt":"2026-03-05T20:00:05","slug":"what-is-sustainability","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/chapter\/what-is-sustainability\/","title":{"raw":"What is Sustainability?","rendered":"What is Sustainability?"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Outcomes<\/h3>\r\n<ul>\r\n \t<li>Define sustainability<\/li>\r\n \t<li>Describe the benefits of sustainability<\/li>\r\n<\/ul>\r\n<\/div>\r\n<img class=\"alignright wp-image-341\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/06\/19192329\/sustainability-3295757_960_720.jpg\" alt=\"An illustration of a green planet earth globe with tall green skyscrapers rising up from all around the globe.\" width=\"400\" height=\"267\" \/>\r\n\r\nThe most commonly cited definition of sustainability is the one developed by the United Nations\u2019 World Commission on Environment and Development (WCED), which defines sustainability in development terms; specifically, sustainable development is \u201cdevelopment that meets the needs of the present without compromising the ability of future generations to meet their own needs.\u201d This definition, included in a report titled \u201cOur Common Future,\u201d[footnote]\"<a href=\"http:\/\/www.un-documents.net\/our-common-future.pdf\" target=\"_blank\" rel=\"noopener\">Report of the World Commission on Environment and Development: Our Common Future.<\/a>\" Accessed July 18, 2019.[\/footnote] is referred to as the Brundtland definition after the commission\u2019s chairwoman, Gro Harlem Brundtland. For a scientific description of sustainability, watch Alexandre Magnin\u2019s Sustainability Illustrated video (7:43); short version: \u201csustainability is the capacity of our human society to continue indefinitely within [these] natural cycles.\u201d[footnote]Magnin, Alexandre. \"<a href=\"https:\/\/www.youtube.com\/watch?v=beidaN3SNdA\" target=\"_blank\" rel=\"noopener\">Sustainability Definition: Scientific &amp; Simple<\/a>.\" YouTube. November 18, 2018. Accessed July 18, 2019.[\/footnote]\r\n\r\nFrom a practical perspective, sustainability means managing toward a triple bottom line, including social, environmental and economic impacts. The triple bottom line (also referred to as TBL or 3BL) concept was introduced by author and SustainAbility consultancy founder John Elkington in his 1997 book <em>Cannibals with Forks: The Triple Bottom Line of 21st Century Business<\/em>.[footnote]Elkington, John, <em>Cannibals with Forks: The Triple Bottom Line of 21st Century Business<\/em> New Society Publishers. 1998.[\/footnote] By factoring in environmental and social or human impacts, including positive and negative externalities such as building a local economy, the threat of litigation or the cost of environmental remediation, 3BL allows organizations to take into account the full cost of doing business\u2014a perspective grounded in reality rather than accounting.\r\n\r\nSustainability, then, requires adopting a systems or integrative perspective rather than pursuing a linear\u2014take-make-waste\u2014approach\u2014with a focus only on accounting profit or the bottom line, regardless of the social or environmental costs or externalities. This systems perspective is best illustrated in the concept of a circular economy that is \u201crestorative and regenerative by design.\u201d[footnote]\"<a href=\"https:\/\/www.ellenmacarthurfoundation.org\/circular-economy\/concept\" target=\"_blank\" rel=\"noopener\">What is a Circular Economy?<\/a>\" Ellen Macarthur Foundation. Accessed July 18, 2019.[\/footnote] The Ellen Macarthur Foundation\u2019s Circular Economy concept integrates a number of sustainability schools of thought including chemist Michael Braungart and architect Bill McDonough\u2019s Cradle to Cradle framework[footnote]McDonough, William and Michael Braungart. <em>Cradle to Cradle: Remaking the Way We Make Things.<\/em> North Point Press. 2002.[\/footnote] and<em> Biomimicry: Innovation Inspired by Nature<\/em> author Janine Benyus\u2019 ideas.[footnote]Benyus, Janine. \"Biomimicry: Innovation Inspired by Nature.\" HarperCollins. 1997.[\/footnote]\r\n\r\n[caption id=\"attachment_1449\" align=\"aligncenter\" width=\"1024\"]<img class=\"wp-image-1449 size-large\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/06\/13211504\/Linear_versus_circular-1024x433.jpg\" alt=\"See the figure caption for a link to the alternative text for Figure 1.\" width=\"1024\" height=\"433\" \/> Figure 1. The linear economy (left) versus the circular economy (right). <a href=\"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/the-linear-economy-vs-the-circular-economy-alternative-text\/\" target=\"_blank\" rel=\"noopener\">Alternative text for \"Figure 1. The Linear Economy vs. The Circular Economy\" can be found here.<\/a>[\/caption]\r\n\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Question<\/h3>\r\nhttps:\/\/assess.lumenlearning.com\/practice\/10e8b564-377e-405f-b0f7-ad4c63b468d7\r\n\r\n<\/div>\r\n<h2>Benefits of Sustainability<\/h2>\r\nIn the Executive Summary of The Millennium Poll on Corporate Social Responsibility, the authors describe a new world order where \u201cbusiness has emerged as the principal engine of growth and development.\u201d[footnote]\"<a href=\"https:\/\/globescan.com\/wp-content\/uploads\/2018\/01\/GlobeScan_MillenniumPoll_1999_FullReport.pdf\" target=\"_blank\" rel=\"noopener\">The Millennium Poll on Corporate Social Responsibility<\/a>.\" Environics. 1999 Accessed July 18, 2019. [\/footnote] With this broader role comes greater expectations. One of the highlights from the survey is \u201cTwo in three citizens want companies to go beyond their historical role of making a profit, paying taxes, employing people and obeying all laws; they want companies to contribute to broader societal goals as well.\u201d\r\n\r\nWhat\u2019s compelling is that those corporations that are rising to the occasion are realizing a financial return on their investment. In an article for Triple Pundit, Jim Witkin reported that a <a href=\"https:\/\/cse-net.org\/\" target=\"_blank\" rel=\"noopener\">Centre for Sustainability and Excellence (CSE)<\/a> study[footnote]\"<a href=\"https:\/\/www.csrwire.com\/press_releases\/41522-Research-Links-Financial-and-Corporate-Sustainability-ESG-Performance\" target=\"_blank\" rel=\"noopener\">Research Links Financial and Corporate Sustainability (ESG) Performance.<\/a>\" The Corporate Social Responsibility Newswire. November 8, 2018. Accessed July 18, 2019.[\/footnote] found a \"strong correlation between financial performance and sustainability performance.\"[footnote]Witkin, Jim. \"<a href=\"https:\/\/www.triplepundit.com\/story\/2018\/new-study-finds-correlation-between-financial-and-sustainability-performance\/55451\" target=\"_blank\" rel=\"noopener\">New Study Finds Correlation Between Financial and Sustainable Performance<\/a>.\" Triple Pundit. November 15, 2018. Accessed July 18, 2019.[\/footnote] Specifically, 73% of the companies identified as having the highest environmental, social and governance (ESG) scores recorded a year-over-year increase in revenues. These results were consistent with the prior year\u2019s research, which showed, in addition, that a majority of the companies with the highest ESG rankings outperformed those with lower ESG ranking from 2014-2016.[footnote]Ibid.[\/footnote]\r\n\r\n[caption id=\"attachment_467\" align=\"alignright\" width=\"300\"]<img class=\"wp-image-467\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/06\/26221739\/victor-garcia-0NJ9urGXrIg-unsplash-819x1024.jpg\" alt=\"Photograph of a tall building. Every balcony has an overflowing garden; there is more greenery than building visible.\" width=\"300\" height=\"375\" \/> Bosco Verticale in Milan, Italy, (translated as <em>Vertical Forest<\/em>) contains over 900 trees across two towers.[\/caption]\r\n\r\nThe consistency of these findings\u2014in surveys conducted by CSE and other organizations\u2014debunks the argument that sustainability initiatives and related reporting impair business\u2019 competitiveness and profitability. On the contrary, CSE\u2019s founder and president Nikos Avlonas notes that \u201cTransparency and comprehensive sustainability goals are great business enablers and support the success of corporate strategies.\u201d[footnote]Waghorn, Terry. \"<a href=\"https:\/\/www.forbes.com\/sites\/terrywaghorn\/2017\/12\/04\/sustainable-reporting-lessons-from-the-fortune-500\/#67ed0da66564\" target=\"_blank\" rel=\"noopener\">Sustainable Reporting: Lessons from The Fortune 500<\/a>.\" <em>Forbes<\/em>. December 4, 2017. Accessed July 18, 2019.[\/footnote] <em>The Sustainability\u00a0Advantage<\/em> author Bob Willard also views sustainability as an enabling strategy and one that can provide for initiatives spanning design and manufacturing, personnel and waste.[footnote]Willard, Bob. <em>The Sustainability Advantage.<\/em> New Society Publishers. 2002.[\/footnote]\r\n\r\nWhat\u2019s particularly interesting\u2014and powerful\u2014is that companies that are prioritizing environmental, governance and social issues tend to be better managed and outperform their competitors.\r\n\r\nA sustainable approach to business also yields a number of operational and strategic benefits. The following list is based on a list of sustainability benefits identified by authors and sustainability consultants Darcy Hitchcock and Marsha Willard in <em>The Business Guide to Sustainability<\/em>:[footnote]Hitchcock, Darcy and Marsha Willard. <em>The Business Guide to Sustainability.<\/em> Earthscan. 2006.[\/footnote]\r\n<ol>\r\n \t<li style=\"font-weight: 400;\"><strong>Manage more strategically<\/strong>\u2014identifying and tracking metrics may make a business more aware of trends and opportunities.<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Reduce energy, waste &amp; costs<\/strong>\u2014redesigning products and systems to eliminate waste and\/or work with the community\/suppliers and other partners to convert a \u201cwaste\u201d stream into a residual product revenue stream<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Competitive differentiation<\/strong>\u2014Listing on the Dow Jones Sustainability Index or other ranking serves as independent validation of sustainability performance and may attract business opportunities and employee and investor interest<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Minimize the impact of future regulations<\/strong>\u2014Anticipating possible regulations and proactively re-engineering processes may allow a business to gain a competitive advantage or avoid negative impacts<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Create innovative new products and processes<\/strong>\u2014Becoming aware of present and future challenges may help an organization develop new products or processes that address those challenges.<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Open new markets<\/strong>\u2014Companies that think beyond industrialized nations may be able to modify their products and processes to tap demand in developing countries, representing 80% of the world population and 99% of global growth.[footnote]\"<a href=\"https:\/\/www.prb.org\/9billionworldpopulationby2050\/\" target=\"_blank\" rel=\"noopener\">9 Billion World Population by 2050<\/a>.\" Population Reference Bureau. Accessed July 18, 2019.[\/footnote]<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Attract and retain the best employees<\/strong>\u2014Employees want to feel like they\u2019re making a difference and sustainable practices can infuse a job with meaning and shared values.<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Improve your image with shareholders and the public<\/strong>\u2014Sustainability initiatives can build goodwill with customers, the community, NGOs and other stakeholders, and bring the type of positive recognition you can\u2019t buy with PR.<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Reduce legal risk and insurance costs<\/strong>\u2014Sustainability initiatives that address social and environmental practices can help organizations reduce their legal risk and associated cost of insurance.<\/li>\r\n \t<li style=\"font-weight: 400;\"><strong>Provide a higher quality of life<\/strong>\u2014Applying \u201csmart growth\u201d principles\u2014economically prosperous, socially equitable, and environmentally sustainable\u2014can help cities, towns and neighborhoods maximize quality of life.[footnote]<a href=\"https:\/\/smartgrowthamerica.org\/\" target=\"_blank\" rel=\"noopener\">Smart Growth America: Improving Lives by Improving Communities.<\/a> Accessed July 18, 2019.[\/footnote]<\/li>\r\n<\/ol>\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Question<\/h3>\r\nhttps:\/\/assess.lumenlearning.com\/practice\/4fa97a6e-5a7c-4adf-93c3-cdabadf0dc3a\r\n\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Outcomes<\/h3>\n<ul>\n<li>Define sustainability<\/li>\n<li>Describe the benefits of sustainability<\/li>\n<\/ul>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-341\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/06\/19192329\/sustainability-3295757_960_720.jpg\" alt=\"An illustration of a green planet earth globe with tall green skyscrapers rising up from all around the globe.\" width=\"400\" height=\"267\" \/><\/p>\n<p>The most commonly cited definition of sustainability is the one developed by the United Nations\u2019 World Commission on Environment and Development (WCED), which defines sustainability in development terms; specifically, sustainable development is \u201cdevelopment that meets the needs of the present without compromising the ability of future generations to meet their own needs.\u201d This definition, included in a report titled \u201cOur Common Future,\u201d<a class=\"footnote\" title=\"&quot;Report of the World Commission on Environment and Development: Our Common Future.&quot; Accessed July 18, 2019.\" id=\"return-footnote-47-1\" href=\"#footnote-47-1\" aria-label=\"Footnote 1\"><sup class=\"footnote\">[1]<\/sup><\/a> is referred to as the Brundtland definition after the commission\u2019s chairwoman, Gro Harlem Brundtland. For a scientific description of sustainability, watch Alexandre Magnin\u2019s Sustainability Illustrated video (7:43); short version: \u201csustainability is the capacity of our human society to continue indefinitely within [these] natural cycles.\u201d<a class=\"footnote\" title=\"Magnin, Alexandre. &quot;Sustainability Definition: Scientific &amp; Simple.&quot; YouTube. November 18, 2018. Accessed July 18, 2019.\" id=\"return-footnote-47-2\" href=\"#footnote-47-2\" aria-label=\"Footnote 2\"><sup class=\"footnote\">[2]<\/sup><\/a><\/p>\n<p>From a practical perspective, sustainability means managing toward a triple bottom line, including social, environmental and economic impacts. The triple bottom line (also referred to as TBL or 3BL) concept was introduced by author and SustainAbility consultancy founder John Elkington in his 1997 book <em>Cannibals with Forks: The Triple Bottom Line of 21st Century Business<\/em>.<a class=\"footnote\" title=\"Elkington, John, Cannibals with Forks: The Triple Bottom Line of 21st Century Business New Society Publishers. 1998.\" id=\"return-footnote-47-3\" href=\"#footnote-47-3\" aria-label=\"Footnote 3\"><sup class=\"footnote\">[3]<\/sup><\/a> By factoring in environmental and social or human impacts, including positive and negative externalities such as building a local economy, the threat of litigation or the cost of environmental remediation, 3BL allows organizations to take into account the full cost of doing business\u2014a perspective grounded in reality rather than accounting.<\/p>\n<p>Sustainability, then, requires adopting a systems or integrative perspective rather than pursuing a linear\u2014take-make-waste\u2014approach\u2014with a focus only on accounting profit or the bottom line, regardless of the social or environmental costs or externalities. This systems perspective is best illustrated in the concept of a circular economy that is \u201crestorative and regenerative by design.\u201d<a class=\"footnote\" title=\"&quot;What is a Circular Economy?&quot; Ellen Macarthur Foundation. Accessed July 18, 2019.\" id=\"return-footnote-47-4\" href=\"#footnote-47-4\" aria-label=\"Footnote 4\"><sup class=\"footnote\">[4]<\/sup><\/a> The Ellen Macarthur Foundation\u2019s Circular Economy concept integrates a number of sustainability schools of thought including chemist Michael Braungart and architect Bill McDonough\u2019s Cradle to Cradle framework<a class=\"footnote\" title=\"McDonough, William and Michael Braungart. Cradle to Cradle: Remaking the Way We Make Things. North Point Press. 2002.\" id=\"return-footnote-47-5\" href=\"#footnote-47-5\" aria-label=\"Footnote 5\"><sup class=\"footnote\">[5]<\/sup><\/a> and<em> Biomimicry: Innovation Inspired by Nature<\/em> author Janine Benyus\u2019 ideas.<a class=\"footnote\" title=\"Benyus, Janine. &quot;Biomimicry: Innovation Inspired by Nature.&quot; HarperCollins. 1997.\" id=\"return-footnote-47-6\" href=\"#footnote-47-6\" aria-label=\"Footnote 6\"><sup class=\"footnote\">[6]<\/sup><\/a><\/p>\n<div id=\"attachment_1449\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1449\" class=\"wp-image-1449 size-large\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/06\/13211504\/Linear_versus_circular-1024x433.jpg\" alt=\"See the figure caption for a link to the alternative text for Figure 1.\" width=\"1024\" height=\"433\" \/><\/p>\n<p id=\"caption-attachment-1449\" class=\"wp-caption-text\">Figure 1. The linear economy (left) versus the circular economy (right). <a href=\"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/the-linear-economy-vs-the-circular-economy-alternative-text\/\" target=\"_blank\" rel=\"noopener\">Alternative text for &#8220;Figure 1. The Linear Economy vs. The Circular Economy&#8221; can be found here.<\/a><\/p>\n<\/div>\n<div class=\"textbox tryit\">\n<h3>Practice Question<\/h3>\n<p>\t<iframe id=\"assessment_practice_10e8b564-377e-405f-b0f7-ad4c63b468d7\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/10e8b564-377e-405f-b0f7-ad4c63b468d7?iframe_resize_id=assessment_practice_id_10e8b564-377e-405f-b0f7-ad4c63b468d7\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe><\/p>\n<\/div>\n<h2>Benefits of Sustainability<\/h2>\n<p>In the Executive Summary of The Millennium Poll on Corporate Social Responsibility, the authors describe a new world order where \u201cbusiness has emerged as the principal engine of growth and development.\u201d<a class=\"footnote\" title=\"&quot;The Millennium Poll on Corporate Social Responsibility.&quot; Environics. 1999 Accessed July 18, 2019.\" id=\"return-footnote-47-7\" href=\"#footnote-47-7\" aria-label=\"Footnote 7\"><sup class=\"footnote\">[7]<\/sup><\/a> With this broader role comes greater expectations. One of the highlights from the survey is \u201cTwo in three citizens want companies to go beyond their historical role of making a profit, paying taxes, employing people and obeying all laws; they want companies to contribute to broader societal goals as well.\u201d<\/p>\n<p>What\u2019s compelling is that those corporations that are rising to the occasion are realizing a financial return on their investment. In an article for Triple Pundit, Jim Witkin reported that a <a href=\"https:\/\/cse-net.org\/\" target=\"_blank\" rel=\"noopener\">Centre for Sustainability and Excellence (CSE)<\/a> study<a class=\"footnote\" title=\"&quot;Research Links Financial and Corporate Sustainability (ESG) Performance.&quot; The Corporate Social Responsibility Newswire. November 8, 2018. Accessed July 18, 2019.\" id=\"return-footnote-47-8\" href=\"#footnote-47-8\" aria-label=\"Footnote 8\"><sup class=\"footnote\">[8]<\/sup><\/a> found a &#8220;strong correlation between financial performance and sustainability performance.&#8221;<a class=\"footnote\" title=\"Witkin, Jim. &quot;New Study Finds Correlation Between Financial and Sustainable Performance.&quot; Triple Pundit. November 15, 2018. Accessed July 18, 2019.\" id=\"return-footnote-47-9\" href=\"#footnote-47-9\" aria-label=\"Footnote 9\"><sup class=\"footnote\">[9]<\/sup><\/a> Specifically, 73% of the companies identified as having the highest environmental, social and governance (ESG) scores recorded a year-over-year increase in revenues. These results were consistent with the prior year\u2019s research, which showed, in addition, that a majority of the companies with the highest ESG rankings outperformed those with lower ESG ranking from 2014-2016.<a class=\"footnote\" title=\"Ibid.\" id=\"return-footnote-47-10\" href=\"#footnote-47-10\" aria-label=\"Footnote 10\"><sup class=\"footnote\">[10]<\/sup><\/a><\/p>\n<div id=\"attachment_467\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-467\" class=\"wp-image-467\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/06\/26221739\/victor-garcia-0NJ9urGXrIg-unsplash-819x1024.jpg\" alt=\"Photograph of a tall building. Every balcony has an overflowing garden; there is more greenery than building visible.\" width=\"300\" height=\"375\" \/><\/p>\n<p id=\"caption-attachment-467\" class=\"wp-caption-text\">Bosco Verticale in Milan, Italy, (translated as <em>Vertical Forest<\/em>) contains over 900 trees across two towers.<\/p>\n<\/div>\n<p>The consistency of these findings\u2014in surveys conducted by CSE and other organizations\u2014debunks the argument that sustainability initiatives and related reporting impair business\u2019 competitiveness and profitability. On the contrary, CSE\u2019s founder and president Nikos Avlonas notes that \u201cTransparency and comprehensive sustainability goals are great business enablers and support the success of corporate strategies.\u201d<a class=\"footnote\" title=\"Waghorn, Terry. &quot;Sustainable Reporting: Lessons from The Fortune 500.&quot; Forbes. December 4, 2017. Accessed July 18, 2019.\" id=\"return-footnote-47-11\" href=\"#footnote-47-11\" aria-label=\"Footnote 11\"><sup class=\"footnote\">[11]<\/sup><\/a> <em>The Sustainability\u00a0Advantage<\/em> author Bob Willard also views sustainability as an enabling strategy and one that can provide for initiatives spanning design and manufacturing, personnel and waste.<a class=\"footnote\" title=\"Willard, Bob. The Sustainability Advantage. New Society Publishers. 2002.\" id=\"return-footnote-47-12\" href=\"#footnote-47-12\" aria-label=\"Footnote 12\"><sup class=\"footnote\">[12]<\/sup><\/a><\/p>\n<p>What\u2019s particularly interesting\u2014and powerful\u2014is that companies that are prioritizing environmental, governance and social issues tend to be better managed and outperform their competitors.<\/p>\n<p>A sustainable approach to business also yields a number of operational and strategic benefits. The following list is based on a list of sustainability benefits identified by authors and sustainability consultants Darcy Hitchcock and Marsha Willard in <em>The Business Guide to Sustainability<\/em>:<a class=\"footnote\" title=\"Hitchcock, Darcy and Marsha Willard. The Business Guide to Sustainability. Earthscan. 2006.\" id=\"return-footnote-47-13\" href=\"#footnote-47-13\" aria-label=\"Footnote 13\"><sup class=\"footnote\">[13]<\/sup><\/a><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><strong>Manage more strategically<\/strong>\u2014identifying and tracking metrics may make a business more aware of trends and opportunities.<\/li>\n<li style=\"font-weight: 400;\"><strong>Reduce energy, waste &amp; costs<\/strong>\u2014redesigning products and systems to eliminate waste and\/or work with the community\/suppliers and other partners to convert a \u201cwaste\u201d stream into a residual product revenue stream<\/li>\n<li style=\"font-weight: 400;\"><strong>Competitive differentiation<\/strong>\u2014Listing on the Dow Jones Sustainability Index or other ranking serves as independent validation of sustainability performance and may attract business opportunities and employee and investor interest<\/li>\n<li style=\"font-weight: 400;\"><strong>Minimize the impact of future regulations<\/strong>\u2014Anticipating possible regulations and proactively re-engineering processes may allow a business to gain a competitive advantage or avoid negative impacts<\/li>\n<li style=\"font-weight: 400;\"><strong>Create innovative new products and processes<\/strong>\u2014Becoming aware of present and future challenges may help an organization develop new products or processes that address those challenges.<\/li>\n<li style=\"font-weight: 400;\"><strong>Open new markets<\/strong>\u2014Companies that think beyond industrialized nations may be able to modify their products and processes to tap demand in developing countries, representing 80% of the world population and 99% of global growth.<a class=\"footnote\" title=\"&quot;9 Billion World Population by 2050.&quot; Population Reference Bureau. Accessed July 18, 2019.\" id=\"return-footnote-47-14\" href=\"#footnote-47-14\" aria-label=\"Footnote 14\"><sup class=\"footnote\">[14]<\/sup><\/a><\/li>\n<li style=\"font-weight: 400;\"><strong>Attract and retain the best employees<\/strong>\u2014Employees want to feel like they\u2019re making a difference and sustainable practices can infuse a job with meaning and shared values.<\/li>\n<li style=\"font-weight: 400;\"><strong>Improve your image with shareholders and the public<\/strong>\u2014Sustainability initiatives can build goodwill with customers, the community, NGOs and other stakeholders, and bring the type of positive recognition you can\u2019t buy with PR.<\/li>\n<li style=\"font-weight: 400;\"><strong>Reduce legal risk and insurance costs<\/strong>\u2014Sustainability initiatives that address social and environmental practices can help organizations reduce their legal risk and associated cost of insurance.<\/li>\n<li style=\"font-weight: 400;\"><strong>Provide a higher quality of life<\/strong>\u2014Applying \u201csmart growth\u201d principles\u2014economically prosperous, socially equitable, and environmentally sustainable\u2014can help cities, towns and neighborhoods maximize quality of life.<a class=\"footnote\" title=\"Smart Growth America: Improving Lives by Improving Communities. Accessed July 18, 2019.\" id=\"return-footnote-47-15\" href=\"#footnote-47-15\" aria-label=\"Footnote 15\"><sup class=\"footnote\">[15]<\/sup><\/a><\/li>\n<\/ol>\n<div class=\"textbox tryit\">\n<h3>Practice Question<\/h3>\n<p>\t<iframe id=\"assessment_practice_4fa97a6e-5a7c-4adf-93c3-cdabadf0dc3a\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/4fa97a6e-5a7c-4adf-93c3-cdabadf0dc3a?iframe_resize_id=assessment_practice_id_4fa97a6e-5a7c-4adf-93c3-cdabadf0dc3a\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe><\/p>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-47\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>What is Sustainability?. <strong>Authored by<\/strong>: Nina Burokas. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Untitled. <strong>Authored by<\/strong>: geralt. <strong>Provided by<\/strong>: Pixabay. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/pixabay.com\/illustrations\/sustainability-energy-tree-3295757\/\">https:\/\/pixabay.com\/illustrations\/sustainability-energy-tree-3295757\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em>. <strong>License Terms<\/strong>: Pixabay License<\/li><li>Linear versus circular. <strong>Authored by<\/strong>: Catherine Weetman. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/commons.wikimedia.org\/wiki\/File:Linear_versus_circular.jpg\">https:\/\/commons.wikimedia.org\/wiki\/File:Linear_versus_circular.jpg<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-sa\/4.0\/\">CC BY-SA: Attribution-ShareAlike<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Specific attribution<\/div><ul class=\"citation-list\"><li>Bosco Verticale, Milan. <strong>Authored by<\/strong>: Victor Garcia. <strong>Provided by<\/strong>: Unsplash. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/unsplash.com\/photos\/0NJ9urGXrIg\">https:\/\/unsplash.com\/photos\/0NJ9urGXrIg<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em>. <strong>License Terms<\/strong>: Unsplash License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section><hr class=\"before-footnotes clear\" \/><div class=\"footnotes\"><ol><li id=\"footnote-47-1\">\"<a href=\"http:\/\/www.un-documents.net\/our-common-future.pdf\" target=\"_blank\" rel=\"noopener\">Report of the World Commission on Environment and Development: Our Common Future.<\/a>\" Accessed July 18, 2019. <a href=\"#return-footnote-47-1\" class=\"return-footnote\" aria-label=\"Return to footnote 1\">&crarr;<\/a><\/li><li id=\"footnote-47-2\">Magnin, Alexandre. \"<a href=\"https:\/\/www.youtube.com\/watch?v=beidaN3SNdA\" target=\"_blank\" rel=\"noopener\">Sustainability Definition: Scientific &amp; Simple<\/a>.\" YouTube. November 18, 2018. Accessed July 18, 2019. <a href=\"#return-footnote-47-2\" class=\"return-footnote\" aria-label=\"Return to footnote 2\">&crarr;<\/a><\/li><li id=\"footnote-47-3\">Elkington, John, <em>Cannibals with Forks: The Triple Bottom Line of 21st Century Business<\/em> New Society Publishers. 1998. <a href=\"#return-footnote-47-3\" class=\"return-footnote\" aria-label=\"Return to footnote 3\">&crarr;<\/a><\/li><li id=\"footnote-47-4\">\"<a href=\"https:\/\/www.ellenmacarthurfoundation.org\/circular-economy\/concept\" target=\"_blank\" rel=\"noopener\">What is a Circular Economy?<\/a>\" Ellen Macarthur Foundation. Accessed July 18, 2019. <a href=\"#return-footnote-47-4\" class=\"return-footnote\" aria-label=\"Return to footnote 4\">&crarr;<\/a><\/li><li id=\"footnote-47-5\">McDonough, William and Michael Braungart. <em>Cradle to Cradle: Remaking the Way We Make Things.<\/em> North Point Press. 2002. <a href=\"#return-footnote-47-5\" class=\"return-footnote\" aria-label=\"Return to footnote 5\">&crarr;<\/a><\/li><li id=\"footnote-47-6\">Benyus, Janine. \"Biomimicry: Innovation Inspired by Nature.\" HarperCollins. 1997. <a href=\"#return-footnote-47-6\" class=\"return-footnote\" aria-label=\"Return to footnote 6\">&crarr;<\/a><\/li><li id=\"footnote-47-7\">\"<a href=\"https:\/\/globescan.com\/wp-content\/uploads\/2018\/01\/GlobeScan_MillenniumPoll_1999_FullReport.pdf\" target=\"_blank\" rel=\"noopener\">The Millennium Poll on Corporate Social Responsibility<\/a>.\" Environics. 1999 Accessed July 18, 2019.  <a href=\"#return-footnote-47-7\" class=\"return-footnote\" aria-label=\"Return to footnote 7\">&crarr;<\/a><\/li><li id=\"footnote-47-8\">\"<a href=\"https:\/\/www.csrwire.com\/press_releases\/41522-Research-Links-Financial-and-Corporate-Sustainability-ESG-Performance\" target=\"_blank\" rel=\"noopener\">Research Links Financial and Corporate Sustainability (ESG) Performance.<\/a>\" The Corporate Social Responsibility Newswire. November 8, 2018. Accessed July 18, 2019. <a href=\"#return-footnote-47-8\" class=\"return-footnote\" aria-label=\"Return to footnote 8\">&crarr;<\/a><\/li><li id=\"footnote-47-9\">Witkin, Jim. \"<a href=\"https:\/\/www.triplepundit.com\/story\/2018\/new-study-finds-correlation-between-financial-and-sustainability-performance\/55451\" target=\"_blank\" rel=\"noopener\">New Study Finds Correlation Between Financial and Sustainable Performance<\/a>.\" Triple Pundit. November 15, 2018. Accessed July 18, 2019. <a href=\"#return-footnote-47-9\" class=\"return-footnote\" aria-label=\"Return to footnote 9\">&crarr;<\/a><\/li><li id=\"footnote-47-10\">Ibid. <a href=\"#return-footnote-47-10\" class=\"return-footnote\" aria-label=\"Return to footnote 10\">&crarr;<\/a><\/li><li id=\"footnote-47-11\">Waghorn, Terry. \"<a href=\"https:\/\/www.forbes.com\/sites\/terrywaghorn\/2017\/12\/04\/sustainable-reporting-lessons-from-the-fortune-500\/#67ed0da66564\" target=\"_blank\" rel=\"noopener\">Sustainable Reporting: Lessons from The Fortune 500<\/a>.\" <em>Forbes<\/em>. December 4, 2017. Accessed July 18, 2019. <a href=\"#return-footnote-47-11\" class=\"return-footnote\" aria-label=\"Return to footnote 11\">&crarr;<\/a><\/li><li id=\"footnote-47-12\">Willard, Bob. <em>The Sustainability Advantage.<\/em> New Society Publishers. 2002. <a href=\"#return-footnote-47-12\" class=\"return-footnote\" aria-label=\"Return to footnote 12\">&crarr;<\/a><\/li><li id=\"footnote-47-13\">Hitchcock, Darcy and Marsha Willard. <em>The Business Guide to Sustainability.<\/em> Earthscan. 2006. <a href=\"#return-footnote-47-13\" class=\"return-footnote\" aria-label=\"Return to footnote 13\">&crarr;<\/a><\/li><li id=\"footnote-47-14\">\"<a href=\"https:\/\/www.prb.org\/9billionworldpopulationby2050\/\" target=\"_blank\" rel=\"noopener\">9 Billion World Population by 2050<\/a>.\" Population Reference Bureau. Accessed July 18, 2019. <a href=\"#return-footnote-47-14\" class=\"return-footnote\" aria-label=\"Return to footnote 14\">&crarr;<\/a><\/li><li id=\"footnote-47-15\"><a href=\"https:\/\/smartgrowthamerica.org\/\" target=\"_blank\" rel=\"noopener\">Smart Growth America: Improving Lives by Improving Communities.<\/a> Accessed July 18, 2019. <a href=\"#return-footnote-47-15\" class=\"return-footnote\" aria-label=\"Return to footnote 15\">&crarr;<\/a><\/li><\/ol><\/div>","protected":false},"author":17,"menu_order":7,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"What is Sustainability?\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Untitled\",\"author\":\"geralt\",\"organization\":\"Pixabay\",\"url\":\"https:\/\/pixabay.com\/illustrations\/sustainability-energy-tree-3295757\/\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"Pixabay License\"},{\"type\":\"cc-attribution\",\"description\":\"Bosco Verticale, Milan\",\"author\":\"Victor Garcia\",\"organization\":\"Unsplash\",\"url\":\"https:\/\/unsplash.com\/photos\/0NJ9urGXrIg\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"Unsplash License\"},{\"type\":\"cc\",\"description\":\"Linear versus circular\",\"author\":\"Catherine Weetman\",\"organization\":\"\",\"url\":\"https:\/\/commons.wikimedia.org\/wiki\/File:Linear_versus_circular.jpg\",\"project\":\"\",\"license\":\"cc-by-sa\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"26c67822-77ad-461e-acaa-73b11e5e9caf, 79d453a0-e0d2-4b36-b826-cc55708af281, 06114fa7-5058-4f71-b690-85163af9a24c","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-47","chapter","type-chapter","status-publish","hentry"],"part":21,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/47","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/users\/17"}],"version-history":[{"count":27,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/47\/revisions"}],"predecessor-version":[{"id":3479,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/47\/revisions\/3479"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/parts\/21"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/47\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/media?parent=47"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapter-type?post=47"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/contributor?post=47"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/license?post=47"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}