topic 2 Flashcards
(12 cards)
What is environmental sustainability?
Protecting the planet’s health so that nature and people can thrive
It helps preserve natural resources, reduce pollution, and slow down climate change.
How does climate change affect businesses?
It leads to:
* Higher insurance costs
* Industry-specific problems(Tourism, farming)
* Shortage of raw materials (Water, crops)
* Cross-border pollution (Trade)
* Transitional risks
* Mental stress on workers and consumers
Why is Singapore vulnerable to climate change?
It is a low-lying island, increasing the risk of flooding from rising sea levels
This poses threats to businesses near coasts or low-lying areas.
What are key areas of environmental sustainability?
- Climate Change
- Biodiversity Conservation
- Pollution Prevention and Control
- Natural Resource Management
- Energy Efficiency & Renewable Energy
What are the main goals of biodiversity conservation?
- Protect endangered species
- Sustain ecosystem services
- Manage natural resources responsibly
What does social sustainability focus on?
Human well-being, reducing poverty and inequality, and building inclusive societies
It involves how people relate to each other.
What are the key areas of social sustainability?
- Human Rights
- Equity & Social Justice
- Community Engagement & Participation
What is Corporate Social Responsibility (CSR)?
Part of social sustainability; it is now mainstream in business
CSR involves companies taking responsibility for their impact on society.
Why do companies engage in CSR?
- Gain competitive advantage
- Build a positive reputation
- Be seen as a quality firm
- Pressure rivals
- Better financial performance
What are other important issues in social sustainability?
- Healthcare
- Education & Training
- Quality of Life
- Diversity & Inclusivity
- Cultural Preservation
What does economic sustainability promote?
Inclusive growth and reduces poverty by ensuring access to economic opportunities
It strengthens economies to withstand external shocks.
What are key focus areas of economic sustainability?
- Resource Efficiency
- Innovation & Technology
- Infrastructure Development
- Decent Work
- Sustainable Production & Consumption
- Support for Small-scale Industries
