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Figure 2: Triple Bottom Line

People

Profit Planet

Source: Roberts & Cohen, 2002

At present, the ESG strategy is primarily being discussed, as it focuses on how to suitably integrate
elements of sustainability into the functioning of an organization. The abbreviation ESG is created
from the initial letters of the areas in question (Asociace společenské odpovědnosti, 2021; World
Economic Forum, 2020):

● Environmental represents the area that considers the role of society in the protection of the
planet (e.g. greenhouse gas emissions, soil protection, use of water, biodiversity, etc.)

● Social (People) represents the area that considers the responsibility of organizations
towards their employees (e.g. safe work environment, salary equality, diversity, etc.)

● Governance represents the area that considers the responsible management of an
organization (e.g. ethical codex or the fight against corruption).

The goal of a correctly established ESG strategy is to move towards an organization’s sustainability
in a manner that is not based upon “greenwashing ”.
1
Initiatives and organizations dealing with sustainability

There is a wide spectrum of tools that play a key role in the field of sustainable activity management
in an organization and in sustainable development. These standards, norms and initiatives offer
organizations advice and instructions on how to proceed in their sustainable activities and direct
them onwards in entrepreneurial sustainability. The most prominent of these tools are listed below:

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create an impression among the public (or consumers) of a company’s (or organization’s)
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