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Business sustainability

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Business sustainability
Introduction
Business sustainability refers to minimizing the adverse effects on the planet's ecosystem
caused by an organization's activities while generating a profit and satisfying its clients.
Environmental, social, and corporate governance (ESG) initiatives assess a company's
sustainability efforts. Business entities should be sustainable in their operations to manage
adverse effects on the environment. The China Shenhua Group Company Limited is a
comprehensive energy enterprise that runs primarily on coal. There is a greater need for this
company to alter its business operations using economic and ethical strategies. The essay uses an
ethical and economically sustainable approach to explain why China Shenhua company should
adopt business sustainability initiatives and actions.
Economic sustainability promotes long-term financial progress without violating other
societal values, such as those related to the environment, society, or culture. There are several
economic sustainability reasons why China Shenhua Firm should implement business
sustainability strategies and activities. First, it will help boost the company's productivity.
Profitability and cost savings can be significantly improved by adopting a sustainability plan. It
also reduces energy consumption and water intake. For example, when Puma disclosed
information on the water utilized and carbon released in its supply chain, Das et al. (2022, p. 10)
highlighted that economic sustainability helped uncover ways to decrease these utilizations. In
addition, profits can increase due to better relations between the company, local authorities, and
society resulting from economic sustainability efforts.
Moreover, economic sustainability creates new opportunities.  The business can explore
new sectors and grow in the current market with the support of a compelling sustainability
strategy. China Shenhua company should prioritize sustainability to take advantage of promising
new economic prospects. He et al. (2022, p. 270) highlighted that several of the world's leading
economies are implementing corporate reporting standards on environmental effects, forcing
firms to limit greenhouse gas emissions.
There are ethical sustainability reasons why the company should implement sustainable
strategies. First, it will help the company maintain a steady flow of satisfied customers by
accommodating their needs. Consumers are willing to pay a premium for products from
sustainable brands (Nielsen & Villadsen, 2023, p. 20). There is widespread agreement among
customers worldwide that businesses should work toward environmental sustainability.
Customers' attitudes are shifting in favor of sustainable practices. The shift is gaining momentum
as populations grow. Tanveer et al. (2021, p.13) noted that customers would pay more for
products made by environmentally conscious companies. Also, many customers have highlighted
sustainability as a critical factor in their purchasing decisions.
Secondly, ethical sustainability also helps in attracting top-tier workers. The ability to
demonstrate long-term sustainability is an essential factor to consider when recruiting top
personnel. Also, employer sustainability is crucial for young individuals when deciding to accept
a firm's position. Many employees are willing to take a salary decrease to work for a more ethical
business. In a workplace where millennials are the majority, failing to implement a sustainability
plan can mean missing talented young workers. Also, when considering a new job, prospective
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employees increasingly prioritize companies with a clear goal, purpose, and interest in protecting
the environment.
In addition, successful companies are more appealing to ethical investors because of their
environmental popularity, social and governance investment criteria, and sustainable investing
(Widyawati, 2020, p. 624). Investment in China Shenhua Company may increase if the
corporation prioritizes both financial and social responsibility. In addition, stakeholders,
including governments, lenders, workers, and consumers, are pressing for increased corporate
responsibility and intervention in global warming.
In conclusion, China Shenhua should adopt a sustainable business model based on
economic and ethical principles to retain talented employees, optimize operations, satisfy
customers, and open up new markets. The business will also benefit from sustainability because
it will help cut production costs and boost profit margins. The corporation can reduce its carbon
footprint and adapt to a changing climate by practicing sustainable business practices.
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References

Das, S., Fuchs, H., Philip, R., & Rao, P. (2022). A review of water valuation metrics: Supporting
sustainable water use in manufacturing. Water Resources and Industry, 100199, 1-13
He, R., Luo, L., Shamsuddin, A., & Tang, Q. (2022). Corporate carbon accounting: a literature
review of carbon accounting research from the Kyoto Protocol to the Paris
Agreement. Accounting & Finance, 62(1), 261-298.
Nielsen, H., & Villadsen, K. (2023). The ESG Discourse Is Neither Timeless Nor Stable: How
Danish Companies' Tactically'Embrace ESG Concepts. Sustainability, 15(3), 2766, 1-26
Tanveer, M., Ahmad, A. R., Mahmood, H., & Haq, I. U. (2021). Role of ethical marketing in
driving consumer brand relationships and brand loyalty: A sustainable marketing
approach. Sustainability, 13(12), 6839, 1-17
Widyawati, L. (2020). A systematic literature review of socially responsible investment and
environmental, social governance metrics. Business Strategy and the Environment, 29(2),
619-637.