Sustainability Management connects, provides and enables businesses and organizations to thrive. It is, by all means, one of the biggest contributors towards economic added value, social development and environmental protection of any country. The next ten years will be crucial and very important for businesses and organizations as international and national agencies respond to various challenges and societies demand for economic transparency.
Sustainability principles and social responsibility best practices are now embedded within laws, international standards and business selection processes. Therefore, businesses and organizations from all industries and sectors will encounter sooner or later the need to comply with sustainability requirements.
Increasingly, stakeholders are keen to know about the positive and negative impacts businesses have in communities they work in, how sustainable the company is and how the business operations are solving local as well as global challenges.
Research indicates 75 % of customers will boycott a brand that has unsatisfactory sustainable practices within its supply chain. Millennial’s buying decisions are guided by a company’s sustainability reputation and 80% of them are happy to support highly sustainable companies. In addition, 79 % of investors incorporate Environmental, Social and Governance (ESG) data amongst their decision-making (Nielsen, Sustainability Report).
Governments, as well as internationally recognized certification bodies, have standards that dictate mandatory requirements and best practices concerning economic development, environment protection, social inclusion, human rights and labor practices.
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