#SustyFridays: #Economic #Sustainability

Economic Sustainability implies the ability of a system to support a defined level of economic production/growth indefinitely.

The question is: who defines this level? and how far reaching does this level go?  In a business context, economic sustainability has to do with using assets and financial resources in an efficient manner so as to allow the business function continually (and if possible indefinitely).

Some activities synonymous with the economic pillar include; profits, compliance, governance, market & credit risk management, business growth, market share and market access.

Though debatable, the dominant focus of many so-called “sustainable development” programs have centered on economic growth that put a strain on the ecological & social sustainability of system.

It is important to note that for a system to be sustainable, the other pillars should be equally considered & balanced. Businesses have to be profitable, but not to the detriment of the environment or people.

In some cases, Economic sustainability is a term that firms use to achieve non-sustainable and detrimental goals to man and environment.

Hence, Economic Sustainability or profits: At what cost?

Mfon Essien

Environmental Management & Sustainability Professional


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