Final answer:
Sustainable business practices are holistic strategies by which companies aim to reduce their environmental footprint, create eco-friendly products, and foster a sustainable society. These practices are economically beneficial and necessitate corporate responsibility and community engagement.
Step-by-step explanation:
A company's efforts to employ sustainable business practices in relation to its employees, society, and the environment encompass strategies aimed at promoting environmental health, economic viability, and social welfare. These practices include initiatives to measure and reduce emissions through energy efficiency and renewable energy sources, creating greener and more efficient products free of hazardous substances, and reducing environmental impacts across all aspects of company operations.
For instance, major companies like Walmart have committed to reducing global emissions to zero and powering their facilities solely with renewable energy by specific future dates. Furthermore, the adoption of such practices is not only environmentally significant but also economically advantageous. Companies also play a role in fostering sustainable communities by influencing societal behaviors toward conservation and resource management through various programs and agreements, such as the Fashion Industry Charter for Climate Action.