Theories do it by setting common standards, taking


Theories of
sustainability attempt to prioritize and integrate social responses to
environmental and cultural problems. Most of the companies are interested in
using those sustainable practices for their day today business activities. When
it comes to the sustainability, there are three core areas that contribute to
the philosophy and social science of sustainable development. Sustainable
development means development that meets the needs of the present without
compromising the ability of future generations to meet their own needs. That
means: It have to be considered the future when we take decisions in the
present. Followings are three main core areas of sustainable development.

Economic Development

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Social Development

Environmental sustainability

Out of those three core
areas, Environmental sustainability is really important.  Because people won’t be survived without the
environment. So it should be have relevant policies for companies to protect
the environment. Humanity has entered a new era, called the Anthropcene, in
which human activity has become the dominant influence on climate and the
environment. Because of the population growth, world income inequality and
rapid industrialization of many developing nations, world community is unable
to maintain a sustainable development. In case of that world has to face lot of
dangerous global issues. Some of them are climate change, Ozone depletion,
Resource scarcity, decline of biodiversity and threats to marine ecosystems.
These issues has been considered as very critical and dangerous issues for the
future of the world.

So for a better future,
companies and governments have to concentrate on a sustainable development. In
many nations government regulates business activity in order to protect the
environment. They do it by setting common standards, taking the cost of
pollution control out of competition, providing economic incentives and offer
systems for resolving disputes. Air pollution, land pollution and water
pollution are the major areas of environmental regulation. Government has to
take care of those three major areas. In the same time, there are cost and
benefits of environmental regulations. Some of the benefits are drop down the
emissions of pollutants, improvement in air and water quality, people love
longer and healthier in less polluted environments.

As well as
organizations also can contribute to the sustainability. So this report will
explain how the organization can contribute to the sustainability specially in
environmental sustainability. There are few concepts and theories which can be
used to evaluate the management of companies’ environmental sustainability
practices. So this report will explain the how the Commercial bank has used those environmental practices. Having set
a benchmark in banking in Sri Lanka commercial bank have set standards, created
an identity and forged an unsurpassable trend. Recognized as a trend setter, it
has maintained cultural identity while providing a range of products and
services. Powered by state-of-the-art technology and driven by a team of highly
motivated, dynamic individuals commercial bank has become the leader in private
banking in Sri Lanka. Furthermore, this report will explain commercial bank’s
current sustainability practices and recommendations with respect to the commercial
bank’s global practices.


Environmental Sustainability theoretical review


So when it comes to the
environmental sustainability,

We all know what we
need to do to protect the environment, whether that is recycling, reducing our
power consumption by switching electronic devices off rather than using
standby, by walking short journeys instead of taking the bus. Businesses are
regulated to prevent pollution and to keep their own carbon emissions low. In
the same time there are incentives to installing renewable power sources in our
homes and businesses. (1994, Basiago, A. D.) Out of the three pillars in
sustainability environmental protection is most important factor for the future.
It helps us to understand how we should study and protect ecosystems, air
quality, integrity and sustainability of our resources and focusing on the
elements that place stress on the environment.

Company should have responsible interaction with the
environment to avoid depletion or degradation of natural resources and allow
for long-term environmental quality. When it comes to the managing the
sustainability, environmental regulations establish minimum standards for environmental
performance. Many firms are now voluntarily moving beyond compliance.

It is really amazing, because
we look at the natural environment, we see that it has a rather remarkable
ability to rejuvenate itself and sustain its viability. For example, when a
tree falls, it decomposes, adding nutrients to the soil. Those factors will
help sustain suitable conditions so future saplings can grow. (1996, Basiago,
A. D.)

sustainability can be explained using from some theories. Voluntary business
initiatives, environmental auditing, environmental partnerships, circular
economy, hierarchy of waste are some theories can be used to explain the
environmental sustainability.

Voluntary business Initiatives

When it comes to the Voluntary
environmental initiatives, which are private or public efforts to improve
corporate environmental performance beyond existing legal requirements. It has
become an important element in the mix of public policies and corporate
strategies for managing industrial impacts on the environment. There are some voluntary
business initiatives which executed by the companies.

– life cycle analysis

 Industrial ecology

 Extended product responsibility

Carbon neutrality

 – Technology cooperation

When it comes to the
voluntary business initiatives on of the best approach is carbon neutrality. An
organization or individual produces net zero emission of greenhouse gases; this
is usually accomplished by a combination of energy efficiencies and carbon
effects. Lalan Group is a diversified conglomerate with expertise in over 12
sectors and has been in operation since 1940 with branch offices in UK and USA.
Lalan has an extensive global network encompassing panindustry interests in
rubber, tea and other plantation crops ranging from cardamom, cinnamon, coffee
and stevia. Lalan group has been
recognized as the first glove manufacturer to offer zero carbon gloves by
offsetting carbon emissions per glove with carbon credit earned. (Source,




Hierarchy of waste

The waste hierarchy,
typically displayed as an inverted triangle offers a hierarchical approach to
showing most preferred versus least preferred approaches to solid waste
generation and management. When it comes to the  actual categories may vary in specific name
and number, depending upon the particular group using this model, but the
essential thought process is that the avoidance of consumption and source
reduction, along with reuse, are preferable to recycling, which in turn is
preferred to waste-to-energy and ultimately to placement in landfills. (EN
ISO 14004, 2010)

Source Reduction and

Source reduction can be
recognized as waste prevention, means reducing waste at the source, and is the
most environmentally preferred strategy. That includes reusing or donating
items, buying in bulk, reducing packaging, redesigning products, and reducing
toxicity. Source reduction can:

Save natural resources,
Reduce pollution,
Reduce the toxicity of our waste,
Conserve energy


Recycling and

Recycling is a
process of activities that includes collecting used, reused, or unused items
that would otherwise be considered waste which is proceed in to  recyclable products into raw materials; and
remanufacturing the recycled raw materials into new products. When it comes to
the recycling, it assists to prevent the emission of many greenhouse gases and
water pollutants, Supply valuable raw materials to industry, save energy,
Create more jobs, Stimulate the development of greener technologies and to conserve
resources for our children’s future. As well as composting is also very good initiative
to protect the environment. That makes environment prosperous.

Treatment and Disposal

Prior to disposal,
treatment can help reduce the volume and toxicity of waste. Because of that
treatments can be physical, chemical, and biological. Landfills are
the most common form of waste disposal and are an important component of an
integrated waste management system.

So in this era, most of
the companies used to execute those hierarchy of waste approach to maintain a sustainable
development. It will directly affect to the environmental sustainability. In real
world this approach used very effectively. Commercial
bank has been able to The implements a garbage disposal system to ensure that
waste is sorted to facilitate recycling of paper, polythene and organic waste.
In case of that, company employees are required to segregate waste material as
‘Paper’, ‘Polythene’ and ‘Bio- degradable Waste’ and store these materials in
separate, colour-coded garbage disposal bins. This process has been monitored
by a separate department and that helps them a lot. 


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