The sustainability framework works to ensure that every business or organization is committed to sustainability of their development and incorporates it into their approach for risk management. It helps people do business in a sustainable way by providing the guidelines that have to be followed so as to adhere to the standards. It helps promote environmental practices that are sound and also encourages accountability and transparency. This leads to positive impacts in developments. Many countries have increasingly discovered that social, environmental and corporate governance issues have very great impact to the performance of the country as a whole(Wright, 2002). These sustainability frameworks have been very well developed so as to help them manage the issues.
There are four sustainability based framework. These are discussed below.
The natural step
It states that for any society to be termed as sustainable, the nature’s diversity and functions should not be subjected to the increased concentrations of the products which are extracted from the earth’s crust or produced by the society. The earth’s resources should not be over used or manipulated. The resources should be used fairly so as to meet the basic human needs(Bishop, 2000).
The Hannover principles
Thisprinciple has brought about the green building and have changed the face of architecture by creation of new and sustainable designs. It puts emphasis on the rights of nature and humanity to coexist, recognizes interdependence between people and their environment, it relies on the concept of elimination of waste. It also insist on the acceptance of any responsibilities of the outcomes of a design and also understand the limitations of design among others(Bishop, 2000).
The three legged stool interpretation
This is not a formal name for this type of sustainability framework but it suggests that sustainability is comprised of ecological, social and economic systems. These three systems must be at a balance for sustainability to be the outcome. A very strong and healthy community is an indicator of a sustainable society(Bishop, 2000).
Corporate Social Responsibility
Driven by the plague of fraud, environmental mishaps and corporate scandals over the past decades, businesses around the world are practicing taking responsibility of everything not only their financial performance. The Corporate Social Responsibility (CSR) was created to help in the application of sustainability so as to provide guidance to businesses with respect to both the environment and their society. It also ensures that responsibility is given to their stakeholders too(Bishop, 2000).
Sustainable development has also been practiced in developing countries. A good example is Rwanda. The Rwanda Initiative for Sustainable Development (RISD) is a Rwandan non-profit, non-governmental Organization that puts its focus on policy action oriented advocacy and research. This organization also works on protection of the land rights and also promotion of good land governance. It also ensures that developments in the region are undertaken sustainably. It works to promote, foster and advocate for economic and social transformation through the protection and sustainable use of the natural resources towards the reduction of poverty in a participatory and equitable manner. Rwanda is now one of the cleanest countries in Africa and RISD can boast of contributing to this.