I think that Sustainability focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs. In addition to natural resources, we also need social and economic resources. Sustainability is not just environmentalism. Embedded in most definitions of sustainability we also find concerns for social equity and economic development.
A system is a set of things working together as parts of a mechanism or an interconnecting network; a complex whole. Sustainable systems consist of 3 factors: Environmental, Economical and Social. The 3 factors should be equally balanced to obtain a good Sustainability System.
- Sustainability focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs.
- Investors can be wary of companies who commit to sustainability. Although the optics can be beneficial to share price, investors worry about companies being transparent with their earnings results.
For example, a factory that allows its waste to flow into a nearby body of water to avoid the short-term costs of proper disposal can cause expensive and significant long-term environmental damage.
3R’s:
- Re-duce: The best way to manage waste is to not produce it.
- Re-use: It makes economic and environmental sense to reuse products.
- Re-cycle: Recycling is a series of steps that takes a used material and processes, remanufactures, and sells it as a new product.