What is Sustainability?
The popular definition from a United Nations'
commission says that you are being sustainable when you are "meeting the needs of the present without compromising the ability of future generations to meet their own needs."
From the Dow Jones Sustainability Group
: Sustainability-driven companies achieve their business goals by integrating economic, environmental and social growth opportunities into their business strategies.
These sustainability companies pursue these opportunities in a proactive, cost-effective and responsible manner today, so that they will outpace their competitors and be tomorrow's winners. Sustainable companies not only manage the standard economic factors affecting their businesses, but the environmental and social factors as well.
The Triple Bottom Line
Garick is committed to practicing the management of the triple bottom line (TBL), which focuses companies not just on the economic value they add, but also on the environmental and social value they add - and/or destroy.
"...The triple bottom line is people, planet and profit - the idea being that environmental quality and social equity are just as important as black ink at the bottom of the ledger."
Terry Slavin, "Ethical Business," The Observer
At its broadest, the term is used to capture the whole set of values, issues and processes that companies must address in order to minimize any harm resulting from their activities and to create economic, social and environmental value.
This involves being clear about the company's purpose and taking into consideration the needs of all the company's stakeholders - shareholders, customers, employees, business partners, governments, local communities and the public.