Sustainability for Australian Sustainable Company of the Year Award

Question: Discuss about theSustainability for Australian Sustainable Company of the Year Award. Answer: Eco-efficiency and sustainability Eco-efficiency refers to the generation of increased value through the use of process changes, which are bound to help reduce resource exploitation and the impact of activities on the environment (Finkbeiner et al. 2010). Eco-efficiency applies to a wide range of business concepts, which range from production, purchasing, distribution, and marketing. Sustainability, on the other hand, refers to the ability of natural systems to produce and maintain diversity in everything it needs, to retain a balance in ecology (Finkbeiner et al. 2010). Sustainability is focused on human civilization, and how this helps in sustaining the way of life. Is CSL a worthy recipient of the Australian Sustainable Company of the Year Award? CSL is a worthy recipient of the Australian Sustainable company of the year award. The organization is wholly committed to improving its efficiency and maintaining the environment, as well as has a positive social impact (Moscardo et al. 2013). All these are positive objectives coupled with the fact that the organization has made significant progress in water management, which reduces the level of water used in the reduction process (Moscardo et al. 2013). Resource saving is part of the sustainability objectives, which has been significantly achieved by the organization. What is the relevance of the potential life-saving social benefits of CSLs products to an evaluation of its sustainability? CSL made a contribution of $10 million towards patient support organizations, which is a contributing factor towards its positive engagement in sustainability (Moscardo et al. 2013). The organization also pledged three million towards the production of doses of the influenza vaccine, which is of social benefit. Such initiatives are essential to the evaluation of sustainability in the organization, as its main aim is to ensure that adverse social problems are eliminated and that risks of environmental degradation are mitigated (Moscardo et al. 2013). The Johnson and Johnson company undertakes initiatives related to sustainability just like CSL company, which in turn, favors the society, and the environment at large (Finkbeiner et al. 2010). References Finkbeiner, M., Schau, E. M., Lehmann, A., Traverso, M. (2010). Towards life cycle sustainability assessment. Sustainability, 2(10), 3309-3322. Moscardo G., Lamberton G., Wells G., Fallon J., Lawn P., Rowe A., Humphrey J., Wiesner R., Pettitt B., Clifton D., Renouf M., Kershaw W. (2013). Sustainability in Australian Business: Principles and Practice. Milton, QLD: Wiley-Blackwell.