SUSTAINABILITY

SUSTAINABILITY:-


 Sustainability—the ability to meet humanity’s needs without harming future generations—now tops many corporate agendas. Major corporations outline in great detail how they are trying to improve the long-term impact of their actions on communities and the environment. As one sustainability consultant put it,“There is a triple bottom line—people, planet, and profit—and the people part of the equation must come first. Sustainability means more than being eco-friendly, it also means you are in it for the long haul.”Sustainability ratings exist, but there is no consistent agreement about what metrics are appropriate. One comprehensive study used factors to evaluate and assemble a list of the Top 100 Sustainable Corporations in the World: energy, water, CO2, and waste productivity; leadership diversity; CEO-to-average-worker pay; taxes paid; sustainability leadership; sustainability pay link; innovation capacity; and transparency. The top 5 firms were GE, PG&E, TNT, H&M, and Nokia.44 Some feel companies that score well on sustainability typically exhibit high-quality management in that “they tend to be more strategically nimble and better equipped to compete in the complex, high-velocity, global environment.”45 Consumer interest is also creating market opportunities. Clorox’s line of naturally derived Green Works laundry and home cleaners— aided by restrained price premiums and a Sierra Club endorsement—has experienced early success. Another good example is organic products (see “Marketing Insight: The Rise of Organic”). Heightened interest in sustainability has also unfortunately resulted in greenwashing, which gives products the appearance of being environmentally friendly without living up to that promise. One study revealed that half the labels on allegedly green products focus on an eco-friendly benefit (such as recycled content) while omitting information about significant environmental drawbacks (such as manufacturing intensity or transportation costs). Because of insincere firms jumping on the green bandwagon, consumers bring a healthy skepticism to environmental claims, but they are also unwilling to sacrifice product performance and quality. Many firms are rising to the challenge and are using the need for sustainability to fuel

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