An Overview of the Historical Context for Sustainable Business in the United States, 1960–2000

Abstract

The concept of sustainable business is a powerful new perspective on creating value for multiple stakeholders. It links the previously conflicting interests of economic efficiency, social equity, and environmental protection. This technical note describes the historical background that has framed the transition from environmental battles to sustainable business and adds context to the discussion of sustainable business practices in the note "The Path to Sustainable Business: Environmental Frameworks, Practices, and Related Tools" (UVA-ENT-0033) and other environmental cases.

Excerpt

UVA-ENT-0034

Rev. Mar. 23, 2010

AN OVERVIEW OF THE HISTORICAL CONTEXT FOR

SUSTAINABLE BUSINESS IN THE UNITED STATES, 1960–2000

Sustainable Development

The most often cited definition of sustainable development comes from the 1987 report Our Common Future by the World Commission on Environment and Development: “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Embedded within the concept of sustainability is a unique and revolutionary linkage between previously conflicting interests. As Mohan Munasinghe explains, “sustainable development necessarily involves the pursuit of economic efficiency, social equity and environmental protection.” Sustainability as a business strategy is a powerful new perspective on creating value for multiple stakeholders.

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Keywords: business and government relations, business and society, corporate social responsibility, environmental issues, government regulation, innovation management, law, regulation, sustainability, sustainable business