Journal Press India®

Business Sustainability in the Times of Crisis

Vol 12 , Issue 1 , January - June 2023 | Pages: 93-105 | Perspective  

https://doi.org/10.69711/sharda.ijmir.v12i1.2308


Author Details ( * ) denotes Corresponding author

1. * Nishtha Ujjawal, Research Scholar, Department of Management, Sharda University, Greater Noida, Uttar Pradesh, India (nishtha11ujjawal@gmail.com)
2. Manisha Gupta, Associate Professor, Department of Management, Sharda University, Greater Noida, Uttar Pradesh, India (guptaamanisha@gmail.com)
3. Shagun Sharma, Research Scholar, Department of Management, Sharda University, Greater Noida, Uttar Pradesh, India (sharmashagun9911@gmail.com)

Many people believe that sustainability implies a connection between human civilization, economy, and the environment. It has been and is debatable whether or not human cultures can achieve environmental sustainability. Sustainable lifestyles have the ability to reduce negative effects on the environment by making use of material, environmental, and social surroundings. Companies are analyzing their resilience in the face of the COVID-19 pandemic, taking into account aspects such as their financial health, the quality of their personnel, and the resources available to them. It would be beneficial for organizations to examine the effectiveness of their existing sustainability plan for sustainability right at this moment. Since the high of the index in February, it has revealed that companies with weaker sustainability ratings have seen larger declines to profit expectations han equities with better sustainability characteristics. Some businesses may find it beneficial to define their company’s goal and values. In times of crisis, having a prioritized list of environmental, social, and governance (ESG) issues might prove to be quite useful. There are more than a hundred different risks that businesses could be exposed to. A materiality analysis helps to narrow the focus to just the most significant concerns. Some of the Sustainable Development Goals (SDGs) are far beyond the purview of any one company or industry as a whole. It is possible that by aligning corporate aims with social issues, organisations may get a new perspective on the roles they play in the world. The non-financial effects that corporations have are becoming a topic of increasingly open discussion. Within the S&P Global 1200, there has been a more than 50 percent increase in the amount of reporting related to sustainability. Some firms are experimenting with novel methods of analysing and displaying their social impact.

Keywords

Environmental Sustainability, Sustainable Lifestyles, Corporate Resilience, ESG (Environmental, Social, Governance) Issues, Sustainability Reporting

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