Why sustainability makes business sense

In this article targetted at SMEs, SMU Associate Professor of Accounting Joanne Tay stressed that an alternative label suggested for sustainability is “enlightened self-interest”. This implies that sustainability is neither solely about being green and charitable, nor solely about maximising profit. Instead, it combines the three aspects of economic performance, environmental impact and social contribution. The sustainable “sweet spot” for a business is where its activities do not deplete natural resources unnecessarily (or better yet, improve the environment), contribute positively to society and are profitable - because without profit, the other objectives cannot be maintained. The keys to seeing the business possibilities in sustainability are focus and mindset .