There is no doubt that sustainability is transforming the global economy. Diminishing planetary resources, climate change, social and economic division, changing consumer preferences, employee activism, increasing regulations, and declining institutional trust are all leading to organizations being increasingly measured based on purpose as well as profit. And this is good for business.

Operating in a socially responsible way strengthens an organization’s brand reputation. Job seekers and consumers today want to support organizations that stand for something important and that are making positive impacts on society at large. Investors are putting more emphasis on sustainable development goals with a significant increase of focus on social impact. Human rights and environmental regulations are increasing rapidly. All of this demands a more sustainable approach from CEOs and business leaders.

People, Planet, and Prosperity

When you hear the word sustainability, the first thing you may think of is recycling or environmental sustainability, but sustainability is about so much more than eliminating single-use water bottles and reducing fossil fuel consumption. A holistic approach to sustainability incorporates social, environmental, and economic sustainability – or people, planet, and prosperity.

Organizations are increasingly recognizing the need to be as focused on social, or people, sustainability as they have been on economic and environmental sustainability – all three together support and drive business sustainability. People make up society, impact the environment, and power the economy. People are at the heart of any strategy to make progress on sustainability goals. In today’s workplace, HR has both the opportunity and responsibility to ensure that people are at the center of work by creating an environment in which the workforce, and the organization, can thrive.