What are the 3 Pillars of Sustainability
The three pillars of sustainability is a topic every business owner should know before going into business. Every business has their impact on the world some are for the better and others for the worse. Here are the three pillars of sustainability:
The Environmental Pillar of Sustainability:
Business are focusing on reducing their overall impact on the environment. Weather it be through reducing carbon footprint, reducing packing waste water usage etc.
Many businesses have built their entire business structure around producing within the industries of food production, mining or environmental clean-up solutions. These companies have noticeably positive impacts on the environment.
A great example of a Montreal business who built their business structure revolving around the environmental pillar of sustainability would be Lufa Farms. An urbanized rooftop farming social enterprise who the first ever rooftop farm in the world. This created a movement for organic food as well as a solution for the lack of space for agricultural farming. They also have many other policies their business obeys to such as no food waste based off of appearance discrimination, electric cars for delivery, no GMO, etc.
The Social Pillar of Sustainability:
Being a great corporate or business citizen is essential to this pillar in sustainability. This department requires massive ethical decisions such as fair trade, localization/local support, benefits & flexibility to employees, offering support with social issues etc. You can learn more through the Social Licence (SLO) information page (https://www.investopedia.com/terms/s/social-license-slo.asp). A great example of a Montreal business who strongly practices the social pillar of sustainability would be LIDER Marketing! LIDER Marketing focuses on the small business aspect of the economy and social impacts. They do not work with large corporations as corporations dominate the industries which often times drown the small business community. They offer very affordable packages to small business and start-ups to give them a huge advantage/opportunity at growth. They also incorporated a sustainable/green business operations plan to ensure they are running as sustainability as possible.
The Economy Pillar of Sustainability:
Profit at all cost is the opposite of what the economy Pillar is about. This pillar focuses on compliance, proper governance and risk management.
An extreme example of someone who does not put any effort into the economy pillar of sustainability is the famous Donald Trump. He has filed bankruptcy 4 times for his business in the last 25 years all worth 0.5-1.8 billion dollars each file.
These are great guidelines to helping your business achieve a stellar level in sustainable practices. What are some things your business already does to contribute to the environments, society or the economy?