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Article

30 Jul 2014

Author:
Michael H. Posner, Professor of Business and Society, NYU Stern School of Business, USA on World Economic Forum blog

Michael Posner: "Why it pays for businesses to boost sustainability"

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Business sustainability is essential to the long-term prosperity of global companies. But what does this mean in practice and how is sustainability defined? Today’s smart business leaders know that they are operating in a fishbowl, where everything they do is on display and social media enables news and information to travel around the world in seconds. They are also operating in a world where many governments are failing to provide a stable, secure environment for businesses to operate. To address these challenges, CEOs are recognizing that they need to incorporate broader principles of sustainability in their everyday business decisions. This is not simply a matter of doing the right thing, it’s smart business.Leading global companies are therefore developing practical standards and metrics to help apply these principles...This week seven of the World Economic Forum’s Global Agenda Councils have released a white paper that offers an integrated view of business sustainability and why it matters. [refers to Samsung]