Theories generations to meet their own needs. That

Theories of
sustainability attempt to prioritize and integrate social responses to
environmental and cultural problems. Most of the companies are interested in
using those sustainable practices for their day today business activities. When
it comes to the sustainability, there are three core areas that contribute to
the philosophy and social science of sustainable development. Sustainable
development means development that meets the needs of the present without
compromising the ability of future generations to meet their own needs. That
means: It have to be considered the future when we take decisions in the
present. Followings are three main core areas of sustainable development.

1.     
Economic Development

2.     
Social Development

3.     
Environmental sustainability

Out of those three core
areas, Environmental sustainability is really important.  Because people won’t be survived without the
environment. So it should be have relevant policies for companies to protect
the environment. Humanity has entered a new era, called the Anthropcene, in
which human activity has become the dominant influence on climate and the
environment. Because of the population growth, world income inequality and
rapid industrialization of many developing nations, world community is unable
to maintain a sustainable development. In case of that world has to face lot of
dangerous global issues. Some of them are climate change, Ozone depletion,
Resource scarcity, decline of biodiversity and threats to marine ecosystems.
These issues has been considered as very critical and dangerous issues for the
future of the world.

So for a better future,
companies and governments have to concentrate on a sustainable development. In
many nations government regulates business activity in order to protect the
environment. They do it by setting common standards, taking the cost of
pollution control out of competition, providing economic incentives and offer
systems for resolving disputes. Air pollution, land pollution and water
pollution are the major areas of environmental regulation. Government has to
take care of those three major areas. In the same time, there are cost and
benefits of environmental regulations. Some of the benefits are drop down the
emissions of pollutants, improvement in air and water quality, people love
longer and healthier in less polluted environments.

As well as
organizations also can contribute to the sustainability. So this report will
explain how the organization can contribute to the sustainability specially in
environmental sustainability. There are few concepts and theories which can be
used to evaluate the management of companies’ environmental sustainability
practices. So this report will explain the how the Commercial bank has used those environmental practices. Having set
a benchmark in banking in Sri Lanka commercial bank have set standards, created
an identity and forged an unsurpassable trend. Recognized as a trend setter, it
has maintained cultural identity while providing a range of products and
services. Powered by state-of-the-art technology and driven by a team of highly
motivated, dynamic individuals commercial bank has become the leader in private
banking in Sri Lanka. Furthermore, this report will explain commercial bank’s
current sustainability practices and recommendations with respect to the commercial
bank’s global practices.

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2.
Environmental Sustainability theoretical review

 

So when it comes to the
environmental sustainability,

We all know what we
need to do to protect the environment, whether that is recycling, reducing our
power consumption by switching electronic devices off rather than using
standby, by walking short journeys instead of taking the bus. Businesses are
regulated to prevent pollution and to keep their own carbon emissions low. In
the same time there are incentives to installing renewable power sources in our
homes and businesses. Out of the three pillars in sustainability environmental
protection is most important factor for the future. It helps us to understand
how we should study and protect ecosystems, air quality, integrity and
sustainability of our resources and focusing on the elements that place stress
on the environment.

Company should have responsible interaction with the
environment to avoid depletion or degradation of natural resources and allow
for long-term environmental quality. When it comes to the managing the
sustainability, environmental regulations establish minimum standards for environmental
performance. Many firms are now voluntarily moving beyond compliance.

It is really amazing, because
we look at the natural environment, we see that it has a rather remarkable
ability to rejuvenate itself and sustain its viability. For example, when a
tree falls, it decomposes, adding nutrients to the soil. Those factors will
help sustain suitable conditions so future saplings can grow.

Environmental
sustainability can be explained using from some theories. Voluntary business
initiatives, environmental auditing, environmental partnerships, circular
economy, hierarchy of waste are some theories can be used to explain the
environmental sustainability.