Australian corporation Westpac Banking is the most sustainable company on earth this year, according to a new ranking from Corporate Knights. But what does sustainability mean, exactly? Doug Morrow, vice president of research at Corporate Knights, a Toronto-based media company, says it’s a multifaceted concept.
“On the one hand, it means doing more with less; squeezing more output out of every capital input, including financial, human and natural capital,” he explains. “But the hallmark of a sustainable enterprise is not just efficiency, but also mechanisms to encourage meritocracy, diversity, innovation and long-term planning. Management teams at sustainable corporations are afforded room to think and plan beyond the next financial quarter.”
Sustainability in a corporate context is essentially recognizing that a corporation’s long-term interests are intellectually and financially consistent with resource efficiency, proactive health and safety practices, and responsible leadership, he says. — Full Story at Forbes —