2. Development of the Sustainability Concept and CSR

  1. Nikos Avlonas Founder and President1 and
  2. George P. Nassos Principal2

Published Online: 1 NOV 2013

DOI: 10.1002/9781118787472.ch2

Practical Sustainability Strategies: How to Gain a Competitive Advantage

Practical Sustainability Strategies: How to Gain a Competitive Advantage

How to Cite

Avlonas, N. and Nassos, G. P. (2013) Development of the Sustainability Concept and CSR, in Practical Sustainability Strategies: How to Gain a Competitive Advantage, John Wiley & Sons, Inc, Hoboken, NJ. doi: 10.1002/9781118787472.ch2

Author Information

  1. 1

    Center for Sustainability & Excellence

  2. 2

    George P. Nassos & Associates, Inc.

Publication History

  1. Published Online: 1 NOV 2013
  2. Published Print: 20 NOV 2013

ISBN Information

Print ISBN: 9781118250440

Online ISBN: 9781118787472

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Keywords:

  • corporate social responsibility (CSR);
  • global reporting initiative (GRI);
  • shareholders;
  • stakeholders;
  • sustainability;
  • triple bottom line (TBL)

Summary

While most corporations are very concerned with profitability, implementing sustainability does not necessarily mean an opposition to profitability. By striving for corporate sustainability, the company will achieve long-term profitability. Corporate social responsibility concerns actions by companies over and above their legal obligations towards society and the environment. Certain regulatory measures create an environment more conducive to enterprises voluntarily meeting their social responsibility. The best way to really understand if an organization is meeting any goals and objectives is to take appropriate measurements of the key performance indicators (KPI). The global reporting initiative (GRI) is the internationally accepted standard for triple bottom line (TBL) reporting in which environmental, social, and economic aspects of a company are considered. The GRI was created to bring consistency to the TBL reporting process by enhancing the quality, thoroughness, and value of sustainability reporting.