We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. fiscal sustainability. Socially responsible investing looks for investments that are considered socially conscious because of the nature of the business the company conducts. By being mindful of the impact of the operation on the local community, the business is able to choose raw materials that are more environmentally friendly and design a waste disposal strategy that does not cause damage. Find more ways to say economic, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. financially independent. This is a tall order my friend...how do you propose that this occur? Antonyms for sustainability include unsustainability, invalidity, impotence, incompetence, ineffectiveness, lethargy, uselessness, weakness and impracticality. Find more ways to say sustainable, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. "Scale for Good." This word "sustainability" or the phrase "sustainable development" has become a big one. These three pillars are informally referred to as people, planet and profits. Economic sustainability is the term used to identify various strategies that make it possible to use available resources to their best advantage. Sustainability has been crossing boundaries in all areas of society. Top synonyms for economic viability (other words for economic viability) are economic rationality, economic efficiency and economic feasibility. By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. In most scenarios, the measure of economic sustainability is presented in monetary terms. True sustainability encourages the responsible use of resources. Is the work environment safe? Activities that fit under the economic pillar include compliance, proper governance and risk management. Economists would need to design theories to facilitate this shift. The goal is to establish profitability over the long term. league baseball, and cycling. Sustainability is most often defined as meeting the needs of the present without compromising the ability of future generations to meet theirs. This means that boards of directors and management align with shareholders' interests as well as that of the company's community, value chains, and end-user customers. I think that economic sustainability applies to so much more than just microeconomics. Innovation occurs out of a need to reach a desirable future outcome, rather than exploiting what is available in the fastest manner possible. Accessed Feb. 27, 2020. Since then, he has contributed articles to a For other companies, sustainability means answering hard questions about the how and why of their business practices that could have a serious, if gradual, impact on their operations. (For more, see: "Go Green With Socially Responsible Investing."). Synonyms for sustainable in Free Thesaurus. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Learn more. If social sustainability focuses on improving social equality, economic sustainability aims to improve the standard of living. What are synonyms for Environmental sustainability? A failure to track expenses and justify expenditures will also have adverse effects on the long-term stability of the company and limit the potential for sustainability. On the employee side, businesses refocus on retention and engagement strategies, including more responsive benefits such as better maternity and paternity benefits, flexible scheduling, and learning and development opportunities. The concept of sustainability is composed of three pillars: economic, environmental, and social—also known informally as profits, planet, and people. Get credit for things they are not globally what is available in the literature is,! View all issues for investments that are considered socially conscious because of business... The 21st century, it refers to the fullest without compromising future generations ' ability to so! Chain is being filled these three pillars are informally referred to as governance. Shared can deliver hard-to-quantify benefits such as public goodwill and a better reputation areas of society defined:. 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