Business Sustainability in Asia

CHAPTER 9Environmental Dimension of Sustainability

1. EXECUTIVE SUMMARY

To maintain financial sustainability and to effectively compete in the global market, companies worldwide should integrate environmental sustainability into their business strategies and models. Many of the business disasters that have occurred over the past decade accentuate that corporate environmental responsibilities are vital to economic sustainability, the wellbeing of society and future generations. Companies should respond to environmental challenges and turn them into opportunities by strengthening their environmental management, adopting policies and practices that safeguard the global environment and improving their environmental performance. This chapter presents the environmental dimension of sustainability performance worldwide and particularly in Asia.

2. INTRODUCTION

The environmental dimension of sustainability performance enables business organizations to assess the impact of their operation on the environment. Many of the business disasters that occurred in the past decade underscore that corporate environmental policies are vital to economic sustainability and the wellbeing of society. Environmental sustainability is defined as a process of preserving the quality of the environment in the long term, assessing the environmental impact and creating a better environment for future generations while creating shareholder value. In 2010, the SEC released guidance reiterating the relevance ...