Corporate sustainability

Companies bear their responsibility for sustainable development through corporate sustainability. Corporate sustainability encompasses three main areas: environmental, social, and economic sustainability & good governance:

• Environmental sustainability addresses the impacts of business operations on the environment. This area covers issues such as the sustainable use of natural resources, combating climate change, preventing environmental pollution, and protecting biodiversity.

• Social sustainability addresses impacts of business operations on people linked to the company’s value chain, with corporate human rights responsibility as its foundation.

• Economic sustainability & good governance addresses essentially companies’ economic impacts on communities and society. It includes, for instance, the prevention of corruption, responsible tax practices, and compliance with international sanctions.

The issues within the three areas of sustainability are interrelated. For example, environmental degradation also has negative impacts on people’s health and other human rights issues as well as livelihoods, while social inequality can undermine economic development.