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15 Terms in Sustainable Entrepreneurship

15 Terms in Sustainable Entrepreneurship

15 Terms in Sustainable Entrepreneurship

 

Welcome to the world of sustainable entrepreneurship!

In today’s fast-paced and ever-changing business landscape, it’s important for entrepreneurs to not only focus on profit, but also on creating a positive impact for society and the environment. This is where sustainable entrepreneurship comes in – it combines business principles with sustainability practices to create a better future for all.

 

 

 

  1. Sustainable development: The practice of meeting the needs of the present without compromising the ability of future generations to meet their own needs.

 

  1. Entrepreneurship: The process of designing, launching and running a new business venture.

 

  1. Triple bottom line (TBL): A framework that evaluates a company’s performance based on its economic, social and environmental impacts.

 

  1. Greenwashing: The use of marketing tactics to portray a company or product as environmentally friendly, when in reality it is not.

 

  1. Circular economy: An economic system that aims to reduce waste and maximize resource efficiency by keeping materials in use for as long as possible.

 

  1. Social entrepreneurship: The pursuit of innovative solutions to social problems through the creation of sustainable business models.

 

  1. Corporate social responsibility (CSR): The practice of companies taking responsibility for their impact on society and the environment.

 

  1. Impact investing: Investing in businesses or projects with the intention of creating positive social or environmental impact, alongside financial returns.

 

  1. Carbon footprint: The total amount of greenhouse gases emitted by an individual, organization, event or product.

 



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  1. Life cycle assessment (LCA): A tool used to evaluate the environmental impacts of a product or service throughout its entire life cycle.

 

  1. Environmental, social and governance (ESG) criteria: A set of standards used by investors to evaluate a company’s sustainability performance.

 

  1. Socially responsible investing (SRI): Investing in companies that are considered socially responsible based on certain criteria such as environmental and social impact.

 

  1. Ethical sourcing: The practice of ensuring that products are sourced in a way that is socially and environmentally responsible.

 

  1. B Corporation (B Corp): A type of for-profit business certified by the non-profit organization B Lab to meet certain standards of social and environmental performance, accountability, and transparency.

 

  1. Renewable energy: Energy generated from natural sources that are constantly replenished, such as solar, wind, and hydro power.

 

 

 

 

Congratulations on completing this article! By now, you should have a solid understanding of 15 key terms in sustainable entrepreneurship. These concepts are crucial for any entrepreneur looking to make a positive impact on the environment and society while building a successful business.

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