Corporate sustainability is a way of running a business that considers the long-term impact on the environment, society, and the economy. It's basically a three-legged stool where all three aspects are important for the company's continued success. Here's a breakdown:

The Three Pillars of Corporate Sustainability:

Environmental: This focuses on minimizing a company's negative impact on the planet. Examples include reducing pollution, conserving resources, and using renewable energy sources.
Social: This involves being responsible towards employees, customers, and the community. It could involve fair labor practices, diversity and inclusion initiatives, and giving back to the community.
Economic (or Governance): This is about running the business ethically and transparently. It includes things like good corporate governance, responsible accounting practices, and managing risk effectively.

Why is it Important?

Companies are increasingly recognizing that they can't operate in a vacuum. Environmental issues, social unrest, and economic instability can all hurt a business in the long run. By being sustainable, companies can:

Improve their reputation and attract customers and investors who care about these issues.
Reduce costs by using resources more efficiently.
Be better prepared for future regulations and challenges.

Is it Working?

There's evidence that corporate sustainability efforts are having a positive impact. Companies that prioritize sustainability are often seen as more attractive employers and can attract top talent. Consumers are also increasingly willing to pay a premium for products from sustainable companies.

Of course, there are challenges. Some companies engage in "greenwashing" - talking a big game about sustainability without taking real action. But overall, the concept of corporate sustainability is gaining traction and is likely to be a major force in business going forward.