The number of sustainable companies is increasing thanks to awareness and its importance for the corporate image.

Many companies have begun to incorporate sustainable criteria in the services or products they offer.

In this way, the image is strengthened with the internal and external public, impacting the intangible value of the company.

What is a sustainable company?

The United Nations World Commission on Environment and Development defines sustainable enterprises as those that seek to “meet the needs of the present without compromising the ability of future generations to meet their own needs.“

In addition, to be considered as such, they must share five basic principles:

• Act responsibly.
• Undertake actions that contribute to making society more dynamic.
• Commit to the sustainability of the company at all levels.
• Publish annual sustainability reports.
• Generate interactions with society and the community of which it is a part.

In their application, these fundamental principles focus on the economic, social, and environmental spheres.

Economic

Their daily activity is focused on producing goods and services, generating jobs in turn. Therefore, sustainability is one of the pillars of sustainability.

A long-term vision is its best strategy by controlling its finances and looking beyond short-term results.

Social dimension

Companies interact with society and the community in which they are established, generating a series of relationships with stakeholders: employees, suppliers, customers, etc.

In relation to the above, they are characterized by promoting an ethical relationship with all the aforementioned stakeholders.

Fair wages, good working conditions, reasonable prices, and support for social entities are examples of sustainable social activity.

Environmental sustainability

In order to improve the environmental situation and climate change, environmental sustainability policies are necessary for companies.

There are measures aimed at changing consumption patterns for the benefit of the environment:

• Use of renewable energies.
• Product life cycle and repairability.
• Possibility to recycle products and packaging.

The International Iberoamerican University (UNIB), in Puerto Rico, offers a wide variety of university programs focused on training professionals in the environmental field. One of the programs offered is the Master in Strategic Management with a specialty in Management

Source: Sustainable companies: the future of the world also matters | Blog Self

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