Increasing and changing human needs cause unplanned use of many natural and scarce resources. It is very clear that people will need these resources, which are scarce in our world even now, in the future. For this reason, we have to consider the needs of future generations by using scarce resources effectively, efficiently, and it is precisely at this point that the concept of sustainability gains meaning.
The concept of sustainability was first discussed in 1983 in the report entitled "Our Common Future" published by the United Nations (UN=UN) in order to seek solutions to the problems arising from rapid industrialisation and population growth. Sustainability is the understanding of meeting the current economic, social and ecological (natural) needs of people without negatively affecting the needs of future generations. With the understanding of sustainability, it is known that the circular economic approach has gained weight instead of linear economy. In the circular economic approach, it is accepted that it covers many issues such as obtaining energy from renewable sources, reusing all kinds of used materials as raw materials, recycling all kinds of waste, preventing pollution of air, soil and water. Sustainability consists of 3+1 components. As seen in the picture, Governance is the carrier of all three components.
Environmental Sustainability: It is to use natural resources and biological diversity effectively, knowing that they will be depleted. It is to know that all living life will be damaged when the ecological balance is disturbed. In other words, it means not using natural resources only to meet today’s economic needs and to ensure the enrichment of people.
Economic Sustainability: Sustainability of production and consumption dynamics means ensuring balanced economic growth and development. Transition from linear economic understanding to circular economic understanding will be our corporate approach.
Social Sustainability: Focuses on education, health, welfare, safe living and fulfilment of human needs among people.
If these three components work in a balanced manner, the possibility of meeting the needs of future generations increases. The coordination of the concept of sustainability, which is theoretically based on three foundations, on the basis of enterprises depends on effective governance.
Sustainable Governance: In order to achieve objectives such as setting strategic goals, monitoring and harmonising international developments, motivation, innovative and entrepreneurial approach, and supporting investment plans, the existence of an effective governance is also needed.