{"id":30195,"date":"2023-09-28T10:00:21","date_gmt":"2023-09-28T08:00:21","guid":{"rendered":"https:\/\/www.i3s.es\/blog\/what-is-economic-sustainability-and-its-importance-for-a-company\/"},"modified":"2023-11-08T13:17:21","modified_gmt":"2023-11-08T12:17:21","slug":"what-is-economic-sustainability-and-its-importance-for-a-company","status":"publish","type":"post","link":"https:\/\/www.i3s.es\/en\/blog\/what-is-economic-sustainability-and-its-importance-for-a-company\/","title":{"rendered":"What is economic sustainability and its importance for a company?"},"content":{"rendered":"\t\t
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As part of the corporate <\/span>
\n corporate sustainability<\/span>
\n<\/i> there is what is known as <\/span>economic sustainability<\/b>. This, together with <\/span>
\n social sustainability<\/span>
\n<\/i> y <\/span>
\n environmental sustainability, <\/span>
\n<\/i>sets the pillars for future economic <\/span>
\n future economic development<\/span>
\n<\/i> development worldwide.<\/span><\/p>\n

Sustainability, as applied to business, is the way to satisfy the needs of consumers without compromising future generations. It is to meet the current demand <\/span>from a social, environmental and economic perspective<\/span><\/i>. In other words: based on a <\/span>
\n circular economy<\/span>
\n<\/i> fair for people, for our natural environment and that guarantees future economic development.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Definition of economic sustainability\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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But what is<\/span>what is economic sustainability?<\/b> exactly? We could say that the <\/span>economic sustainability<\/b> is one of the pillars of corporate <\/span>
\n corporate sustainability<\/span>
\n<\/i>It is closely linked to social justice, social welfare and environmental respect, since the balance between all of them is vital.<\/span><\/p>\n

The <\/span>economic dimension of sustainability <\/b> refers to the implementation of sustainable criteria within the organization, in its capacity to produce or provide services in a profitable manner, optimizing the use of available resources to the maximum. It is about doing business in a responsible manner.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Examples of economic sustainability\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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We found <\/span>examples of economic sustainability <\/b>companies that have decided to reuse <\/span>
\n reuse discarded or surplus raw materials, reintroducing them back into the production process and avoiding the extraction of new materials, as well as minimizing the cost of waste management.<\/span>
\n<\/i>We have also found examples of economic sustainability in companies that have decided to reuse discarded or surplus raw materials, reintroducing them back into the production process and avoiding the extraction of new materials, as well as minimizing the cost of managing the waste generated. <\/span> <\/p>\n

Also in those corporations that have designed <\/span>
\n energy saving plans<\/span>
\n<\/i> or that have trained <\/span>
\n have trained their staff in the proper use of water resources, electricity, etc.<\/span>
\n<\/i> water, electricity, etc.<\/span><\/p>\n

But without a doubt, one of the most effective strategies to ensure economic sustainability is the <\/span>economic and, incidentally, environmental<\/b> and, incidentally, environmental sustainability, is to carry out a Life Cycle Assessment (LCA). <\/span>
\n Life Cycle Assessment (LCA)<\/span>
\n<\/a> of a product or service to reduce its environmental <\/span>
\n environmental impact<\/span>
\n<\/i>i.e. its <\/span>
\n carbon footprint<\/span>
\n<\/i><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tABOUT SAP EHSM<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"sostenibilidad-y-ciclo-de-vida-de-producto\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"sostenibilidad-en-la-empresa\"\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Why is economic sustainability important?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Measures such as those mentioned above not only contribute to creating goods, services or processes that are kinder to the planet, but also entail <\/span>significant savings for companies<\/span><\/i>enabling its <\/span>economic sustainability<\/b> The company has been able to reduce its expenditure over time thanks to lower spending and the availability of resources as a result of this wasteful spending restraint.<\/span><\/p>\n

This cost reduction comes from a lower use of energy and raw materials, from an optimization of manufacturing, storage, logistics and transportation processes, and even from greater efficiency in services related to marketing and communication actions.<\/span><\/p>\n

The <\/span>economic sustainability<\/b> is important because it <\/span>
\n it makes it possible for companies to survive<\/span>
\n<\/i> sustainable activities over time, as they do not waste or damage resources or raw materials. In other words, a growth model that respects society and is viable.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Economic sustainability indicators<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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There are indicators to measure the economic <\/span>economic sustainability of a project<\/b> or the <\/span>economic sustainability of a project or the economic sustainability of a company. <\/b>Some of them are:<\/span><\/p>\n