Sustainability has become a hot topic lately, although we like to see it as a movement! Many organizations are now bound to varying regulations, especially within the corporate space. Pushing them to comply with rules lowers their impact on the planet and brings forth transparency for all stakeholders. Since sustainability is catching the eyes and ears of people around the globe, it is vital to understand its fundamentals. In this posting for Sustainability 101, House Thirty dives into the pillars of sustainability.
What are the pillars?
They are well-known as:
Do these pillars seem familiar? Many companies now have an internal ESG department with various roles covering Environmental, Social and Governance topics and issues.
From a business perspective, this is where a company can grow economically while generating and promoting social and environmental sustainability. When a company integrates sustainability into their company, it is integral that it becomes a part of its strategy and purpose. This ensures that real change is made throughout their operations.
ENVIRONMENTAL
This pillar often gets the eyes of many, especially when companies are transparent in their disclosures. Many companies are now required by policy and legislation to disclose their environmental impact. This includes emissions scopes from 1-3, energy usage (water, gas, electricity), and their waste, with many companies also setting net zero objectives for some time.
SOCIAL
The social pillar includes all business stakeholders, employees, suppliers, and the company’s community. Think of it as the people piece! Without people, there would be no business, so taking care of these individuals is essential. By many, the people aspect of sustainability can be overlooked as sustainability typically triggers thoughts and visualizations of the planet, the environment or natural spaces.
For example:
- Internal benefits systems for employees.
- Community engagement in the form of events, sponsorships, public projects or scholarships.
- On a global scale, it is essential to acknowledge these same factors for offshore business activities.
- Ensuring manufacturing plants are safe and free of child and forced labour.
ECONOMIC
The economic pillar aims to ensure that whatever operations this company pursues to earn its profits, they also reduce environmental and social risks. Ensuring that the company works within compliance, has good governance, and has risk management practices.
For example:
- The recycling of products within their supply chain and the use or implementation of renewable energy projects.
- Voluntary compliance with different global standards.
All three pillars, environmental, social and economic, ensure that businesses act as a force for good. Ensuring that all stakeholders feel their success.
House Thirty 
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