Understanding the Vocabulary of Corporate Sustainability: A Guide for Business Leaders
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Corporate sustainability has become a buzzword in recent years, but what does it actually mean? Understanding the vocabulary of sustainability is crucial for business leaders who want to make a positive impact on the world and ensure the long-term success of their company. Here are some of the key terms you need to know: Sustainability: This refers to the ability of a system to continue functioning without depleting natural resources or causing harm to the environment. In a business context, it means ensuring that the company operates in a way that is environmentally and socially responsible, while also being economically viable. Triple Bottom Line (TBL): This concept refers to the three pillars of sustainability: economic, social, and environmental. A business that prioritizes the TBL is committed to creating value for all stakeholders, including shareholders, employees, customers, and the planet. Carbon footprint: This refers to the total amo...