What type of “Sustainability” are you dealing with? - Knowing the details
Sandrine Tchaptcha Ngoutcha - MBA
Financial Crime Compliance| Sanctions | AML/CFT| Trade Compliance| Helping clients mitigate Sanctions, AML, fraud & Identity risks, to stay compliant and enhance the efficiency of compliance Program
If you were to ask 10 people what sustainability means, you might get 10 different answers. Some may say sustainability is about energy efficiency while others may consider sustainability as protecting the environment.
People are gradually expressing their interest in sustainability but they define and view it in different ways.
A research conducted by the conference board also revealed that sustainability has a different meaning to different countries. In Europe, the Middle East and Africa, people believe that sustainability is a rational price, for Latin Americans it first refers to using alternative sources to produce energy, for people in Asia-Pacific, it is about the environmental initiatives and in North America, sustainability associates with recycling.
"Green" or "eco" are also general terms uses to refer sustainability yet they emphasized social and environmental concerns.
These diverse perceptions raise a vital question for sustainability:
Should we continue using "sustainability" as a universal term or should we be specific to avoid confusion and provide a holistic understanding of the term?
Sustainability spans 4 broad areas including environmental sustainability, social sustainability, human sustainability, and economic sustainability known as the four pillars of sustainability.
Although the four pillars of sustainability are integrated, this article attempt to convey specificity when dealing with sustainability.
We believe that placing sustainability into the right context could help understand its fundamental role and better quantify its concrete impacts in our everyday life or business.
1- Environmental sustainability
Environmental sustainability is the most popular type of sustainability. It attracts a lot of attention as it originated from social concerns regarding rates of renewable resource harvest, non-renewable resource depletion, ecosystem degradation, pollution creation, and climate change.
Environmental sustainability seeks to promote the responsible interaction of humans with the environment. Its ultimate goal is to maintain human well-being by protecting natural resources such as water, land, air, minerals, and ecosystem services.
- A person that is enthusiastic about environmental sustainability engages in home-recycling and saves water and electricity.
- A company that is committed to environmental sustainability focuses on minimizing waste and the amount of pollution generated by its business operation.
2- Social sustainability
Social sustainability is the type of sustainability that aims at maintaining social capital. This area of sustainability deals with communities, cultures, and globalization. Social sustainability addresses issues such as social equality, diversity, equity, and relationships amongst people.
The main goal of social sustainability is to enhance the quality of life, health, and well-being of society. A socially sustainable community is one with adequate sanitization, comfortable and affordable housing, neighborhood refurbishment, educational and recreational centers, clean surroundings, etc...
- An individual concerned with social sustainability does not litter. People also engage in social sustainability by making charitable donations by donating their time, sharing their knowledge, providing essential stuff, or donating blood.
- A business that practices social sustainability views itself as a member of society and acts in a manner that benefits society such as contributing to the development of a community through donations.
3- Human sustainability
Human Sustainability deals with the private good of individuals. Its ultimate goal is to encourage investment that enhances human capital. Such as quality education, acquisition of skills, health, good nutrition, childhood development, and access to services.
- Individuals committed to human sustainability eat healthy food, exercise regularly, or always look at upgrading their skills or learning new things.
- Businesses that practice human sustainability care and support their human resource. They promote a well work-life balance for their staff.
4- Economic sustainability
This type of sustainability does not attract much attention. Economic sustainability deals with the use, safeguard, and maintenance of economic resources. It promotes the continued success of the economy over a long time. Economic sustainability goes beyond environmental and social issues to include elements of life that improve the standard of living.
- Individuals that practice economic sustainability makes efficient use of their income.
- A business that deals with economic sustainability ensure efficient use of its assets and makes profits over time.
To make commitments to sustainability, we need to start by specifying which type of sustainability could be aligned with our personal or business objectives and that involves knowing the details.
Think about how you as an individual or business can get involved in any of the types of sustainability or how you can integrate all four types in your activities.