Sustainability is an approach to living and working in such a way as to ensure the long-term welfare of both people and the planet. In recent years, this has become an important concept in the business world as well as politics, as it encompasses interrelated areas of environmental, social, and economic sustainability.
For example, environmental protection and regulation is needed to reduce pollution and mitigate climate change and ecosystem degradation. Sustainable social policies and urban planning are also needed to help people live safe, healthy, and enjoyable lives without permanently depleting resources. And sustainable development of the economy is essential to meet present day needs without harming the ability of future generations to do the same.
Businesses are increasingly adopting sustainable practices, rethinking everything from energy use to supply chain management practices in order to reduce environmental impacts. In addition to making a positive difference in their community, these approaches can often save costs, which is why these steps are increasingly expected by the general public as well as shareholders. This demand also presents opportunities for entrepreneurship, giving innovative startups both motivation and incentive to come up with new ways to meet our needs more sustainably.