The word "sustainability" has become common in our day-to-day conversation but the meaning and depth of the word is often overlooked.
A cursory internet search reveals that the word "sustainability" is used to describe something that can be maintained over time, or that meets the needs of the present without compromising the needs of future generations.
A slightly deeper internet search reveals that there are five pillars of sustainability: economic, social, environmental, cultural, and security.
- Economic Sustainability is a set of practices that support long-term economic growth.
- Social Sustainability is a state of well-being where social interactions promote equality, balance, and quality of life across generations.
- Environmental Sustainability is the practice of managing natural resources in a responsible way to meet the needs of the present without compromising the ability of figure generations to meet their own needs. It is also closely related to reducing society's "carbon footprint".
- Cultural Sustainability is the preservation of the cultural heritage and practices in a way that is consistent with the principles of sustainability.
- Security and Sustainability are two global goals that are becoming increasingly important and are interconnected. Security and sustainability are inseparable, and neither can be achieved without the other.
While all five pillars are important to consider, I believe that Economic Sustainability is the most critical to the success of a given project. If a sustainability project ends up costing an organization more than it does to maintain the status quo, it will ultimately fail.