Sustainable Business Principles and Global Frameworks Actual Exam Study Questions with 100% Correct Answers

Sustainable Business Principles and Global Frameworks Actual Exam Study Questions with 100% Correct Answers 1. What is sustainability? - ANSWER Meeting present needs without harming future generations' ability to meet theirs. 2. What are the three principles of sustainability? - ANSWER Environmental protection, social equity, economic viability. 3. What is Corporate Social Responsibility (CSR)? - ANSWER Voluntary actions by companies to improve society, protect the environment, and behave ethically. 4. What are the main goals of early Environmental Management Systems (EMS)? - ANSWER Compliance with environmental legislation, risk management, and production efficiency for economic savings. 5. Value creation - ANSWER Actions that create value for the customers, the business, shareholders etc. 6. how sustainability affects value creation - ANSWER Stronger brand and pricing power, better use of resources, attract employees and people, customer loyalty, 7. What motivates companies to engage in corporate sustainability reporting? - ANSWER To meet regulatory requirements, improve performance, "story telling", enhance transparency, risk management, and build trust with stakeholders, certificates. 8. Benefits of sustainability reporting - ANSWER Internal benefits: - set vison and stratège - mesure performance - manage risk - motivate employees 9. External benefits: - build reputations and trust - attract capital - engage with stakeholders - comply with regulatory requirements 10.SDGs - ANSWER Sustainable development goals 11.a collection of 17 interlinked objectives adopted by the United Nations in 2015 to create a better, more sustainable world by 2030. ( they are alined with the un global compact) 12.Class: its important to disclose positive and negative impacts to avoid: • Cherry picking • Greenwashing 13.Cherry picking - ANSWER action or practice of choosing and taking only the most beneficial or profitable items, opportunities 14.What is greenwashing? - ANSWER The practice of making misleading claims about the environmental benefits of a product or service. onmental , soil and governance ESG - ANSWER • Environmental: climate change preparedness, resource use • Social: labour practices, data security, safety records • Governance: board diversity, business ethics, executive salaries 16.What is the significance of eco-labelling for corporations? - ANSWER It helps gain competitive advantage, recognition, establish transparency, gains support and can educate & influence consumer behaviour. 17.What is the role of the UN Global Compact? - ANSWER its the worlds largest corporate sustainability initiative To encourage businesses to adopt sustainable and socially responsible policies. - human rights, labor, environmental and anti-corporation - 10 universal principles that the SDG took from but this is the original ideas that they took. 18.STARS: the sustainable tracking, assessing and rating system - ANSWER a transparent self assessment framework for unis and collages to measure sustainability performance. 19.LEED stands for Leadership in Energy and Environmental Design - ANSWER used for green ratings for buildings system: - framework for healthy, efficient, and cost-efficient green buildings = environmental and soil benefits - location and transportation, sustainable site development, water savings, energy efficiency, material selection, indoor environmental quality 20.What does 'beyond compliance' refer to in corporate sustainability? - ANSWER Optimizing triple bottom line • Value of innovation; opening up new markets • Improving stakeholder and shareholder relations • Risk management and compliance - now shifting to risk resilience • Finding the "sustainability advantage" • Important implications for corporate strategies and governance structures 21.What is the triple bottom line? - ANSWER A framework that evaluates a company's commitment to social, environmental, and economic responsibilities. 22.Approaches and tools: Triple Bottom Line - ANSWER Planning, managing and reporting on business results in 3 areas: Economic: sales, profits, ROI, jobs created, cash flow Environmental: impacts on air, water, waste, biodiversity and energy use Social: product responsibility, community impacts, labour practices, human rights GRI (Global reporting initiative) is the most widely-used triple bottom line approach 23.Value chain perspective - ANSWER • Corporations have a core mandate to make profits • Value creation: Actions that create value for the customers, the business, shareholders etc. • Value chain: the set of processes by which a valuable service or product can be delivered • Value creation drives corporate sustainability Value chain - ANSWER the set of processes by which a valuable service or product can be delivered