What is business sustainability?
For most of the history of capitalism, the “capital” that was relevant was financial capital – money. Investors put money (capital) in, and expected a financial return. The fiduciary duty of corporate managers was solely to shareholders.
In the past couple decades some observers have noticed this approach ignores other forms of capital, such as social capital and environmental capital. As a result, while many businesses were thriving (financially) in the short run, social and environmental systems critical to long-term prosperity were being short-changed.
This led to a movement sometimes called Sustainability (or Triple Bottom Line, or Corporate Social Responsibility or simply Corporate Responsibility). This re-thinking of the role and purpose of business in society is gaining momentum. For example, consider the Dow Jones Sustainability Index (DJSI), which launched in 1999.
Why would a start-up choose to be sustainable?
You might be thinking, “There is so much to do when starting a business… can’t sustainability wait until we’re on firmer footing?”
Maybe… but consider the benefits of a strong sustainability commitment. Wouldn’t you want to accrue these benefits from the start?
What resources are available to support sustainable business?
B Lab is a non-profit that created the B Impact Assessment and the Certified B Corporation. The B Impact Assessment is an easy-to-use tool that looks at business performance across four categories: governance, workers, community and environment. My business, ProtoTest, is a Certified B Corporation.
CORE is a Colorado non-profit organization dedicated to promoting sustainable business practices and a more responsible economy. This is a great place to educate yourself and meet others on the business sustainability journey.
The Mile High Business Alliance is a Denver-based non-profit on a mission to build a more connected, resilient and healthy local economy. They emphasize the local aspect of sustainability in their programs.
GreenBiz is a news site that provides clear, concise, accurate, and balanced information, resources, and learning opportunities to help companies of all sizes and sectors integrate environmental responsibility into their operations in a manner that supports profitable business practices.