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Social and environmental sustainability vs Financial sustainability - Essay Example

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Sustainable development of a business can be possible through the improvement of the environmental, social and financial factors by overcoming…
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Social and environmental sustainability vs Financial sustainability
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Download file to see previous pages The differences among social as well as environmental sustainability and financial sustainability can be resolved based on the different views. Social economic is also essential for the purpose of doing a business properly and improve economic growth of businesses. In the recent trends, there is a huge scope for a business. Sustainability can also be defined as the long-term growth economically, financially, environmentally and socially (IFC, 2012).
In this context, the paper deals with the implications of the differences among social as well as environmental sustainability and financial sustainability in two ways such as the ways through which they can operate their business properly and also can report on their activities. In addition, it intends to explain how these differences can be reconciled or resolved along with the major obstacles for reconciling different views.
Social and environmental sustainability is different from financial sustainability based on going concern of the accountants. Social and environmental sustainability is important to prevent the issues related to social and environmental aspects and on the other hand, financial sustainability is essential to prevent financial issues in a business. In a business, there are several factors, which play an important role for the development of a business. Social sustainability helps to support the future generation to maintain a healthy as well as well-being society and community (IFC, 2012). Environmental sustainability can be described as the process through which demands of an environment can be attained. Environmental sustainability is also important to reduce the negative impact of the business and to take effective decisions regarding the business purpose and also for the improvement of the natural environment. On the other hand, financial sustainability means long-term ...Download file to see next pagesRead More
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