In today’s world, the term “sustainability” is often used as a trendy buzzword. But what does it truly mean, and how can we embrace it for the betterment of ourselves, our communities, and our planet?

The concept of sustainability dates back to the 1983 Brundtland commission, which defined sustainable development as meeting present needs without compromising future generations to meet their own needs. Today, sustainability looks at both the environmental, social, and governance risks, as well as one’s impact on the Sustainable Development Goals (SDGs). A sustainable business strategy aims to make a positive impact on these groups.
“In terms of an equation, it’s ESG risk plus SDG impact, equals sustainability.” – Brett Wallington, Founder of Paragon Impact

Sustainability is crucial, as it directly affects our quality of life, biodiversity, and ecosystem health. Sustainable practices are vital for achieving global sustainable development.

Moreover, sustainability drives a company’s overall success. Businesses that align with the SDGs, implement their actions, and create real impact consistently outperform the market. Sustainable practices can protect brands, mitigate risks, and provide a competitive advantage.

The 2030 Agenda for Sustainable Development outlines 17 SDGs that call for global action to end poverty, improve health and education, reduce inequality, promote economic growth, address climate change, and preserve nature. Embracing the SDGs accelerates sustainable development and fosters accountability and transparency in business and investment.

While ESG risks matter, considering a company’s actual impact on the environment and societies is crucial too. By evaluating both ESG risks and SDG impact, we can determine a company’s legitimacy and license to operate.

Join us in Chapter 2 of our Creating +Change series as we delve into the SDGs, the 2023 SDG Process Report, and how we can accelerate progress towards them.