The most widely used definition of sustainable development was coined by the UN Brundtland Commission in 1987: "development that meets the needs of the present without compromising the ability of future generations to meet their own needs."
The concept of Sustainability, or Corporate Sustainability (CS), is based on a model that includes taking responsibility for the economic, environmental and social impacts of the business – the so called Triple Bottom Line (3BL or TBL). A company’s performance should be assessed in the context of these three dimensions. Using this model is intended to make commercial activity and society more sustainable in a long term perspective.
Read more at: Wikipedia – Sustainable development, Wikipedia – Brundtland Commission, Wikipedia – Corporate Sustainability.