Sustainable business: the 3Ps of the future
The future is green. That includes above all the future of companies that want to win the challenge of the market. When can a company be defined as sustainable? Three keywords identify it: Planet, People and Profit.
The three P paradigm was theorized by John Elkington in 1994 and was taken up and subsequently implemented on the basis of the three dimensions of corporate sustainability as defined in analytical terms.
The first dimension is environmental (Planet); the second, social (People); the third is economic-financial (Profit).
Companies must be able to set up production chains and use materials to produce products and services whilst respecting the environment at every stage.
The reduction of carbon dioxide emissions in the air is only the first step and must be integrated with the logic of recycling and reusing materials, capable of extending the life of a product and also changing its end use. Finally, it is necessary to set up an eco-sustainable logistic system, which respects the environmental balance and allows the transport or transfer of goods with zero impact.
Corporate sustainability, an essential added value for environmentally-aware consumers of the new millennium, can be “demonstrated” through environmental certifications that will have the effect of valorizing products and services, as well as enhancing the company’s Brand Reputation.
Environmental sustainability is complementary to social sustainability, intended as a timely response to the company’s actions within the local community and its related protection. The care of local communities is an essential obligation that sustainable businesses cannot shirk.
Finally, the people themselves. In relation to sustainability, by people we mean respect for the rights of all workers included in the process of production and distribution of goods and services.
Corporate sustainability is also characterized by financial equilibrium. Businesses that are unable to produce profits cannot be called sustainable. These business realities are destined to disappear from the market, considering that economic-financial equilibrium is essential for setting medium and long-term goals. Of course, profits will have to be reinvested in business activities, over time, to allow companies to be competitive on the reference market.