In an era of economic turmoil and unprecedented global wars, business leaders are seeking ways to fuse financial ambition with multiple commitments to society and planet Earth alike. To succeed, sustainable businesses must be able to point to all Three Pillars of Sustainability – environmental, social and economic.
What are the 3 pillars of sustainability?
The first pillar, environmental, involves the preservation of resources and diminishing of damage caused to the environment throughout the course of a company’s operations. This includes reducing and eliminating harmful emissions from manufacturing and production, as well as assessing the company’s carbon footprint and minimizing total greenhouse gas emissions.
Second, the social pillar focuses on creating a better quality of life for all citizens. This involves the development of fair wages, safe working conditions and promoting human rights.
Third, the economic pillar is a key factor in supporting the environmental pillar and sustainable development goals. This pillar involves achieving energy efficiency through the implementation of ISO 50001 standards and using renewable energy sources.
Fourth, the cultural pillar is also critical for sustainable development. This pillar is linked to the social and ecological dimensions because it encompasses peace, security, human rights, and ethical practices.
It is crucial to understand that each pillar has its own benefits and challenges. While the environmental pillar may have more impact on the overall system than the other two, the other two still have an important role to play in supporting sustainable business practices.
