Why is sustainability important?
Sustainability is getting embedded in global, local, and federal strategies. It brings a new business framework, which is a disruptive game-changer for many industries.
The increase of non-financial reporting is due to growing stakeholders’ expectation to know more about organizational efforts to address and improve environmental, social and economic impacts. Overall, conscious consumption is taking over and showing an increase in demand, thus more and more organizations are obliged to incorporate ethical and sustainable practices in their businesses and products, and define their Corporate Social Responsibility (CSR) strategy. Organizations should rethink their strategy respecting Triple Bottom Line framework.
Taking environment, social and governance (ESG) into account in investment decision-making is a widely accepted practice today. Countries are embarking on Sustainable Development Goals (UN SDG) journey in order to leave no one behind, assure inclusive growth for all, and fight climate change.