Abstract
What is sustainability and why does it matter to the retailer and developer? We’ve heard about corporate social responsibility (CSR) for years. How does this differ from the current discussion about sustainability? One way to think about it is this: Sustainability refers to being responsive to the entire web of living systems inside of which we live and work, whereas CSR primarily pays attention to social obligations (government regulations, worker well-being and consumer demands).
One definition of CSR describes it as comprising “two elements: acting as a good corporate citizen, attuned to the evolving social concerns of stakeholders, and mitigating existing or anticipated adverse effects from business activities” [2]. For many business leaders, CSR has become a primary way to secure a long-run competitive advantage.
Sustainability, like quality, doesn’t cost; it pays. In all my business experience, I have never seen a more powerful differentiator in the marketplace [1].
—Ray Anderson, Founder and Chairman of Interface, Inc., 2007 sales: $1.1 billion
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- 1.
See http://www.footprintnetwork.org for a fuller explanation of the term ecological footprint.
- 2.
See 2003 studies by the Heschong Mahone Group, sponsored by California’s Pacific Gas & Electric Company, available at http://www.h-m-g.com/downloads/Daylighting/A-5_Daylgt_ Retail_2.3.7.pdf, accessed June 13, 2008.
- 3.
This position was adopted in 2008 by the ICSC for all European projects.
- 4.
Full disclosure: the author served as a consultant to Regency’s in-house task force for about six months in 2007.
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This section is based on interviews with three key executives in April 2008 at the company’s headquarters: Glenn H. Aaronson, CEO, Multi Corporation B.V.; Arco Rehorst, Technical Director for Multi Asset Management; and Arno G. N. Ruigrok, Adjunct Director of Multi Vastgoed B.V.
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Interview with Mary Lou Fiala January 2009.
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Yudelson, J. (2009). Sustainability Matters. In: Sustainable Retail Development. Springer, Dordrecht. https://doi.org/10.1007/978-90-481-2782-5_1
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