‘Sustainability’ has become one of the world's most frequently used buzzwords, often misapplied, which can limit its potential for genuine change and diminish its credibility. According to the United Nations, the true definition of sustainability is ‘development that meets the needs of the present without compromising the ability of future generations to meet their own needs’. This concept acknowledges the finite nature of natural resources and emphasizes the need for sustainable development to ensure that future generations are not deprived of essential resources. If harmful practices persist without change, the damage to our planet may become irreversible. The key to sustainability lies in making these changes without reducing the current quality of life.
Sustainability encompasses four distinct pillars, each focusing on different aspects, such as human sustainability, which focuses on enhancing human capital within society. For businesses and communities to be considered truly sustainable, they must effectively incorporate all four sustainability pillars into their core business activities.
The Four Pillars of Sustainability
Social Sustainability
Social sustainability focuses on building social capital by investing in and creating services that form the frameworks of our society. It takes a broad view of the world, considering entire communities and cultures, and emphasizes preserving future generations. Social sustainability focuses on improving human welfare and institutions, acting towards social sustainability by contributing to healthier, fairer, and more livable communities with an emphasis on equality and access to universal human rights. Social sustainability is often supported by laws and regulations, such as business and rights policies.
Human Sustainability
Human sustainability focuses on maintaining and improving human capital within society. It highlights the importance of people involved both directly and indirectly in the production of goods or provision of services. Investments in health, education systems, and welfare fall under this umbrella. It is crucial for businesses because, without loyal and satisfied employees, long-term sustainable growth cannot be achieved. Human sustainability ensures that communities affected by business actions, such as those impacted by methods used to source raw materials, are supported, with their well-being prioritized.
Economic Sustainability
Economic sustainability aims to maintain company profitability by efficiently using assets over long periods. While long-term economic growth is crucial, the key concept of this pillar (and the other three pillars) is sustainability, meaning that economic growth must occur without negatively impacting the social, environmental, and cultural aspects of society. The University of Mary Washington describes it as “practices that support long-term economic growth without negatively impacting social, environmental, and cultural aspects of the community.”
Environmental Sustainability
Environmental sustainability aims to improve human lives by preserving the environment and natural capital, such as land, water, air, and minerals. A business can only be defined as environmentally sustainable when it ensures that the needs of the population are met without compromising the long-term sustainability of the environment and the needs of future generations. Businesses, communities, and individuals seeking to act under the environmental sustainability pillar must interact conscientiously with the environment to avoid the destruction or depletion of natural resources. The ultimate goal is to achieve this while meeting the needs of the current population. Examples of environmental sustainability include switching your business's energy source to renewable energy, such as solar, wind, or water.
For complete sustainability to be achieved, businesses must champion all four pillars of sustainability in their processes, with the primary goal of not compromising the needs of the future to meet the needs of the present. Businesses that do not align with the sustainability pillars will fall behind in the competitive world of sustainable businesses.
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