Sustainability, ESG three pillars, SDGs
When we talk about sustainability, we are talking about: A development model that allows the needs of the present to be met without compromising the ability of future generations to meet their own needs.. It is a holistic approach that considers the social, environmental and economic impacts of actions and decisions made today.
From a historical perspective, the concept of sustainability was formulated at the first United Nations Environment Conference in 1972, but it really took shape in the so-called brundtland report (“Our Common Future”) articulated the goals of sustainable development.
The same report introduces three pillars or principles: Environmental, social and economic sustainabilityalso called ESG (Environment, Society, Governance).
The transition to sustainable development is primarily based on: A series of international agreements and goals It is then implemented at the level of the individual states and communities involved. The best known of these are:
- of United Nations Framework Convention on Climate Change and its Protocol setting out commitments to reduce greenhouse gas emissions.
- of Convention on Biological Diversity (CBD)promote biodiversity conservation.
- and especially the United Nations Sustainable Development Goals (SDGs), covering a wide range of sustainability issues. Built around these goals was the United Nations 2030 Agenda, the Plan of Action for People, Planet and Prosperity, which was signed into law by the United Nations General Assembly on 25 September 2015. The Agenda includes 17 goals that work for everyone around the world and is articulated along the following lines: His three aspects of sustainable development: economic, social and environmental.
1. What is environmental sustainability?
environmental sustainability It is the ability to meet current needs without compromising future resource availability and to conserve and protect the natural environment over the long term through appropriate practices and policies.
Factors influencing environmental sustainability
Environmental sustainability is influenced by several factors that can have a significant impact on the ecological balance and the Earth’s life-supporting capacity.
The main ones include:
- Air, water and soil pollution.
- Climate change caused by excessive amounts of greenhouse gases released into the atmosphere by human activities.
- Loss of biodiversity.
- Overexploitation of natural resources.
- An economic model with unsustainable consumption.
What goals should you aim to achieve?
Achieving environmental sustainability requires achieving many important goals, including:
- Reducing greenhouse gas emissionsespecially in important sectors such as power generation, industry, agriculture, and transportation.
- Increase the production and use of energy from renewable sources.
- Implement Policies to conserve biodiversity By addressing the cause.
- Introducing sustainable practices in agriculture and the food chainprecision farming strategies, optimizing and increasing soil quality and productivity through a series of targeted interventions using technology, regenerative agriculture and agrivoltaics, non-soil cultivation methods such as hydroponic and windponic systems; Things like reducing food waste.
- Raise awareness and involve the community On issues of environmental sustainability.
- promotion of circular economy.
Among the practices that are very important for sustainability, water, soil, forests, wildlife, natural habitats, etc., in order to ensure the ecological balance of the earth and the availability of these resources to future generations. It is essential to protect and sustainably manage our natural resources.
2. What is social sustainability?
social sustainability It is included Focus on the well-being of people and communities.
it’s about promotion capital, human rights, Access to education, health care, and decent jobs.
Social sustainability aims to build inclusive societies, reduce inequalities and ensure the long-term well-being of all people, while maintaining social cohesion and justice.
To achieve sustainability, we need to overcome:
- Poverty and socio-economic inequality.
- discrimination, prejudice, and social exclusion.
- Lack of access to resources.
- local, regional and global unrest and conflict;
- poor governance, including phenomena such as corruption and organizational inefficiency;
On the path to social sustainability, Promotion of systems and policies Those that can reduce social and economic inequalities play a particularly important role in the following areas: Ensure that all members of society have equal access to opportunities and resources.
In addition to fighting inequality, goals to achieve From a social sustainability perspective, these include:
- of Promoting policies that respect fundamental human rightsthe right to health and education, etc.
- of Adopting practices that value and include people of diverse backgrounds, genders, ethnicities, abilities, and sexual orientations.
- of Creating a safer living environment through more efficient judicial administration.
- of Improving people’s health and physical and mental well-being Through quality medical services.
3. What is economic sustainability?
economic sustainability An approach in which economic activity is conducted in a way that maintains and promotes long-term economic health. In practice, it aims to create a balance between economic growth, resource efficiency, social equity and financial stability.
Factors influencing economic sustainability
Factors that influence economic sustainability include:
- Responsible management of resources.
- the efficiency and innovation capacity of economic systems and enterprises;
- Financial stability at the macro level.
- A country’s level of social innovation, that is, the extent to which each country promotes policies, programs, and initiatives that address important social issues such as poverty, gender equality, access to education and health care, environmental sustainability, and other social issues. attempt.
- International cooperation and partnership between government and private companies.
- levels of equity and social inclusion;
- Corporate responsibility.
How can the economy become sustainable?
In order to make the economic system sustainable, We need to encourage energy generation from renewable sources, adopt policies and regulations that promote energy efficiency, and promote economic models based on this. circular economy Therefore, waste can be reduced and resource exploitation can be suppressed..
Achieving these goals requires social and economic inclusion, technological innovation through committed investment, promoting efficient and transparent governance, and promoting public awareness and education.
Responsible management of economic resources is of paramount importance, as it means and ensures that:
- Minimize your impact on the environment.
- social and economic equity;
- A more resilient and challengeable economy.
- Greater corporate compliance with management based on principles of responsibility and ethics.
Is there also a fourth pillar of ethics?
There is another pillar of sustainability. You can imagine this as the midpoint of a triangle connecting the other three.
Processes that lead to sustainable development cannot actually take place unless everyone involved in the supply chain receives fair and sustainable remuneration. This pillar also includes some of the practices we have already considered, such as respecting human rights and promoting social responsibility.
in short, pillars of ethics It consists of a core set of basic guidelines that underpin the practical actions specified in the other three. Honesty, transparency, fairness, respect for diversity and Promoting collective welfare.
The pillars of sustainability are interconnected
The pillars of sustainability are closely interconnected in that every action taken within each area has a ripple effect on the other areas. There is a strong interrelationship between the environmental and economic realms, and good environmental practices, such as responsible resource management, are essential to maintaining economic stability and the very existence of food supply chains. That’s not all. Some sustainability strategies, such as transitioning to a low-carbon economy and adopting sustainable practices, can create economic opportunities, foster innovation, and increase business competitiveness.
The social realm is also connected to both the environmental and economic realms. Just as it is clear that people’s health and well-being are inextricably linked in a fair and inclusive society where inequalities are reduced, social cohesion, active citizen participation and sustainable It is established that the foundations of a resilient economy are fostered. It affects the quality of the environment in which they live.
What does an ESG integration strategy include?
ESG integration An investment strategy that takes into account factors and risks related to the environment, the importance of social areas, and corporate governance.
This strategy uses non-financial indicators to evaluate the performance of a company or organization. ESG integration includes a company’s policies and practices related to environmental issues (such as environmental impact and resource use), social issues (such as managing employee and community relationships), and governance issues (such as governance structures and transparency). , includes the collection of information about performance. ).
Its goal is to consider the social and environmental impacts of economic activities, promote transparency and corporate responsibility, and promote sustainable investments that generate long-term financial returns. For example, Enel was the first company in the world to issue bonds tied to its ESG performance in 2019.
Adopting a truly measurable corporate sustainability policy promotes transparency and accountability to all stakeholders, from shareholders to employees, suppliers and local communities, ensuring that actions taken have real impact. is important to ensure that