Sustainability (in terms of business sustainability) The importance of sustainability has been enhanced in the King IV report on corporate governance. Although application of King IV is voluntary for most organizations, it is a requirement for companies listed on the Johannesburg Stock Exchange. The King IV report addresses sustainability as follows: “Sustainable development, understood as ‘development that meets the needs of the present without compromising the ability of future generations to meet their needs’, is a primary ethical and economic imperative. It is a fitting response to the organization being an integral part of society, its status as a corporate citizen and its stakeholders’ need, interests and expectations. The survival and success of organizations are intertwined with, and related to, three interdependent sub-systems: the triple context of economy, society and the natural environment. In the South African setting, addressing inequality in society ...
