CSR Sustainability and Ethics (Part 3)

Question 1

Define sustainability in business

Answer 1

Doing business without negatively impacting the environment, community, or society as a whole.

Question 2

Living with planetary boundaries

Answer 2

Humanity uses equivalent of 1.7 planets to provide the resources necessary to produce goods & absorb waste

Takes Earth 1 year & 6 months to regenerate what is used in a year

Question 3

Why do businesses care about sustainability?

Answer 3

New political agenda & regulatory uncertainty - cannot maintain same business model

Extreme weather & climate change - impact supply chain, infrastructure, operations & customer interactions etc.

Psychological impact - both in workplace & society (uncertainty)

Question 4

Define sustainability

Answer 4

The practice of using natural resources responsibly, so they can support both present and future generations.

Question 5

What are the 6P’s when thinking about sustainability and the company? (Will not be set in the exam question)

Answer 5

Purpose
Perspective
Partnerships
Procurement
Process
Presentation

Question 6

Give examples of positive and negative (avoidance) criteria for ethical investment and sustainability?

Answer 6

\+VE Criteria:
Conservation & environmental protection
Equal opportunities & ethical employment practices
Green technologies
Public transport

-VE Criteria:
Animal rights violation
Genetic engineering
Nuclear power
Weapons
Child labour
Environmentally hazardous products or processes