Initially, corporate sustainability was a tertiary practice that focused on reporting; increasingly, it is influencing core strategic business decisions. A proactive stance on sustainability is becoming a competitive necessity to attract investors, source talent, meet the requirements of supply chain partners, and address growing consumer demand. Companies are seeing the value of operating in ways that address environmental concerns, health and safety issues and operational risks. They increasingly understand that good product stewardship, responsible energy consumption, and low carbon practices are necessary components of a competitive business.
Although a sustainability strategy can be onerous, it is an increasingly essential aspect of a viable business. Engaging sustainability requires that companies are innovative and that they know consumers. Obviously, they must avoid greenwashing and they must tie sustainability to their core business. Some of the contemporary realities that are emerging around the issue of sustainability involve collaborative approaches and securing appropriate external certification.