Corporate Sustainability can be regarded as the corporate response to sustainable development represented by strategies and practices that address the key issues for the world’s sustainable development.
Sustainable development is about creating the conditions for better quality of life for everyone, now and in the future, based on eco-efficiency and innovative solutions for engaging everyone and particularly the developing countries in the global economy.
“Corporate sustainability means that your service or product does not compete in the marketplace only in terms of its superior image, power, speed, packaging, etc. Additionally, your business must deliver products or services to the customer in a way that reduces consumption, energy use, distribution costs, economic concentration, soil erosion, atmospheric pollution, and other forms of environmental damage.” The Ecology of Commerce (1993).
PricewaterhouseCoopers define corporate sustainability as aligning an organisation's products and services with stakeholder expectations, thereby adding economic, environmental and social value.
According to Dow Jones Sustainability Index., “Corporate Sustainability is a business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments”.
The corporate sustainability movement is about companies contributing effectively to a global partnership for sustainable development. It is about companies delivering wide societal value including support for health and human rights improvements, regional development and fair globalisation and respecting the environment by promoting technologies to reduce the emission of greenhouse gases and by implementing effective environmental risk management systems. It is also about companies that make long term performance stability a top priority in corporate strategy.