Nowadays, we hear the word sustainability very frequently, but what does it really mean and why is it becoming so important?

The commonly accepted definition is the one introduced in 1987 by the Brundtland Report: "sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs."

In recent decades, business has done just the opposite, mainly focusing on shareholder value maximization and neglecting the impacts on society and the environment. Creating and pursuing a new approach towards the creation of shared values, which includes progress for all stakeholders and counters the environmental and social decline, is increasingly urgent. It is essential to pursue a far-sighted and responsible business approach, in order to generate long-term economic value, all while preserving the natural and social capital.

The economic model based on infinite growth and indiscriminate use of natural capital has come to an end. Therefore, it becomes necessary to integrate the three dimensions of sustainability - economic, social and environmental - into the management practices of each organization. Sustainability thus becomes a new paradigm, a new mindset to be adopted in order to prosper and progress in this era of volatility, uncertainty, complexity and ambiguity. Sustainability means managing risks, anticipating changes, being aware of the impacts along the value chain, adapting new and inclusive business models, generating positive social and environmental impacts. Sustainability is truly the greatest business opportunity of this century!