Key Principles
Overview 🔗
- Stakeholder Engagement
- Environmental Responsibility
- Social Equity and Ethics
- Economic Viability
Stakeholder Engagement 🔗
- Sustainable Businesses
- Stakeholder Involvement
- Stakeholder Value
A sustainable business doesn’t just involve stakeholders, it values them. It actively engages them in dialogue and decision-making processes related to sustainability issues that affect them. This includes investors, employees, customers, suppliers, communities, and regulators, recognizing their integral role in the sustainability journey.
Environmental Responsibility 🔗
- Energy Efficiency
- Resource Conservation
- Environmental Impact
Companies adopt practices that promote environmental stewardship, conservation, and sustainability, aiming to reduce their carbon footprint, enhance energy efficiency, minimize waste, and conserve resources.
Social Equity and Ethics 🔗
- Diversity and Inclusion
- Community Engagement
- Ethical Treatment
Fostering fair treatment, respect, and ethical practices for all stakeholders, including employees, customers, communities, and suppliers. This involves addressing issues like labor rights, fair trade, diversity, inclusion, and community engagement.
Economic Viability 🔗
- Sustainability
- Long-term Value
- Economic Health
While sustainability often emphasizes environmental and social components, economic viability remains crucial. Businesses need to be profitable to sustain their operations and implement sustainable practices. However, the focus is on long-term value creation rather than short-term gains.