Ethical and sustainable development is good business. It involves implementing and measuring ethical business practices that benefit all stakeholders to create an increased triple bottom line of financial, social and environmental performance.
Evidence is increasing that there is a strong correlation between sustainable business practices and financial performance. For example, investment portfolios that take account of sustainability criteria are achieving better performance than their conventional counterparts. The businesses within these portfolios benefit from attracting and retaining the best employees, improving customer sales and loyalty, increasing supplier commitment and strengthening community relations.
This experience is supported by the 50 main academic studies into the relationship between ethics and financial performance. Thirty-three showed a positive relationship, 13 were neutral and only four showed a negative relationship. The idea that there is necessarily a trade-off between stakeholder-oriented business and shareholder financial rewards has been shown to be a myth.
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