What is the sustainability tripod and what are its pillars?
A Corporate Sustainability has emerged with a powerful force, providing significant competitive advantages for companies that adopt sustainable practices. Increasingly, organizations recognize that the integration of ESG it is essential to generate value in the long term. Within this context, it is essential to explore the concept of Sustainability tripod, which encompasses the three essential pillars of how a company must be conducted from a sustainable point of view.
While ESG Use a set of criteria to assess a company's performance in relation to environmental, social, and governance issues, the sustainability tripod is a more comprehensive approach that seeks to balance three aspects to achieve the Sustainable Development.
Learn more below!
What is the sustainability tripod?
The sustainability tripod is a concept that represents the three fundamental pillars for achieving sustainable development: social, economic, and environmental. These three elements are interdependent and must be balanced to ensure a prosperous and harmonious future for present and future generations.
The concept of the sustainability tripod was conceived by sociologist John Elkington in 1994 and was then known as the “father of sustainability”. The British promoted the idea that companies should not focus exclusively on the result of their sales, but should also consider the well-being of society and the impact they have on the environment.
Thus, it would be possible to create sustainable business management.
“Large companies are changing their business model. And those companies that are unable to transform will die; because it's easier to start over, to create new companies, than to transform. To think about sustainability is to think about systemic changes”, John Elkington, creator of the sustainability tripod and known as the “father of sustainability”.
Exploring the tripod pillars of sustainability
As we have seen, the sustainability tripod has three pillars: social, environmental, and economic. These pillars are also known as “3 Ps”: People, Planet and Profit (People, Planet, and Profits).
Let's explore each of them:
Social
The social pillar focuses on the company's interactions with society in general and on measures aimed at a healthy work environment. This includes respect for human rights, the promotion of diversity and inclusion, the improvement of working conditions, and corporate social responsibility.
By adopting sustainable social practices and investing in social projects, companies demonstrate commitment to the well-being of the communities in which they operate, strengthening their reputation and building lasting relationships with their stakeholders.
Environmental
The environmental pillar is aimed at reducing the environmental impact of business operations. This encompasses practices such as the efficient management of natural resources, the adoption of renewable energy, the minimization of waste, the reduction of greenhouse gas emissions, and the protection of biodiversity.
Economical
The economic aspect encompasses both profitability and the transparency and responsible management of business expenses, in addition to being also linked to the production, distribution, and consumption of goods and services.
What is the importance of the sustainability tripod for companies?
The sustainability tripod offers a holistic approach for companies to move towards business sustainability. By balancing the three pillars (social, environmental, and financial), organizations can create shared value, drive innovation, strengthen their resilience, and build a lasting competitive advantage.
Second research from Gartner, Inc., 86% of business leaders They said that promoting sustainability generated Short and long term value for your organization. Still, 80% indicated that the Sustainability helped your organization optimize and reduce costs.
It is worth noting that companies that invest in sustainable practices not only contribute to the preservation of the environment, but also reduce long-term operating costs, increase the efficiency and resilience of their supply chains, and respond to growing consumer demands for products and services. Eco-friendly.
How does the sustainability tripod work?
We know that the success of the sustainability tripod lies in the interdependence and balance between its three pillars. When all aspects are treated with equal importance and integrated into the business strategy, the company can achieve lasting and responsible growth.
For example, a company that adopts sustainable social practices not only builds a good reputation, but also strengthens its relationships with stakeholders, which can, in turn, positively impact the organization's financial health.
For the sustainability tripod to be effective, it is crucial that the company internalizes a broader perspective of corporate responsibility. This involves considering not only the financial result but also the social and environmental impact of your actions. Leadership must adopt values that direct the company to seek balance between these three dimensions.
In the end, the operationalization of the sustainability tripod requires an in-depth review of the company's internal processes. Sustainable management must be incorporated into all areas, from the supply chain to production, logistics, and decision-making. This includes promoting energy efficiency, reducing waste, and implementing responsible governance practices.
We'll see more about that below.
How to achieve social, environmental and economic balance in the company?
Achieving balance between the dimensions of the tripod of sustainability is an essential challenge for companies that seek to operate in a sustainable and responsible manner. To achieve this objective, it is necessary to adopt a series of practices and strategies that address each of these dimensions in an integrated manner.
Integrate sustainability into corporate culture
Promoting an organizational culture focused on sustainability is essential to achieve balance between dimensions. This requires the engagement of the entire team, from leadership to core employees. To this end, provide training on sustainable practices, promote awareness about the importance of sustainability, and create incentives for employee engagement in social and environmental responsibility initiatives.
Evaluate your suppliers
Make sure that your suppliers share the same values regarding social and environmental responsibility. This may involve verifying work practices, compliance with environmental regulations, and a commitment to business ethics. Thus, it is possible to build a more resilient and responsible supply chain.
Manage solid waste
Proper solid waste management is essential to minimize your company's environmental impact. Implement reduction, reuse, and recycling practices whenever possible. Additionally, establish waste segregation programs, encouraging employees to actively participate. You can also explore the possibility of partnering with recycling companies to optimize the treatment of the waste generated.
Save electricity
Energy efficiency is a direct way to reduce both operating costs and your company's environmental impact. Therefore, it is suggested that audits be carried out to identify areas of excessive consumption and savings opportunities.
In addition, you can implement LED lighting technologies, efficient heating and cooling systems, and monitor energy usage regularly. Don't forget to also promote awareness among employees about energy saving practices.
Use sustainable technologies
The incorporation of sustainable technologies can provide significant improvements in the social, environmental, and economic dimensions. Explore options such as solar energy generation, rainwater harvesting systems, intelligent automation, and sustainable mobility solutions. Not only do these technologies reduce environmental impact, but they can also generate long-term savings and improve employee satisfaction.
Monitor and report the progress of your sustainability initiatives
Regularly monitor the progress of your initiatives and measure the results achieved in each dimension. Transparency is fundamental, so disclose sustainability reports that document the company's efforts in relation to social, environmental, and economic aspects. Not only does this demonstrate the company's commitment to responsibility, but it also provides valuable information for future decision-making.
Sustainable innovation
The adoption of the sustainability tripod also drives the search for innovation. Companies are encouraged to develop products and services that meet the needs of current generations without compromising the future. Innovation can occur both in the way the products are designed and in the search for new business models that promote sustainability.
Do you want to start putting it all into practice? Keep reading!
Take the first step towards sustainable innovation
Incorporating the sustainability tripod into your company often requires the search for Innovation. Also according to a report from Gartner, Inc., 42% of respondents are leveraging sustainability their activities to drive innovation, differentiation, and business growth.
In this context, the Electronic Signature by Clicksign is a concrete example of technology that helps to strengthen business sustainability and helps to develop each of the pillars of the tripod of sustainability (environmental, social and economic) within the company.
In addition to reducing paper consumption, having a positive impact on the environment and avoiding waste, electronic signatures also promote a more dynamic and less bureaucratic workflow, contributing to employee satisfaction.
The electronic signature can also help reduce company costs by eliminating expenses associated with printing, physical storage of documents, and transportation. In addition, the agility provided by this technology results in efficiency gains, saving time and operational resources.
Have you seen how electronic signatures are beneficial both for the environment and for the company's economic sustainability? Now, discover how Clicksign solutions can change the way you sign documents! Try it for free, no credit card required.
