Corporations that want to be regarded as socially responsible are establishing corporate governance initiatives and practices that encourage sustainability. Define sustainability and discuss whether companies can achieve a higher degree of ethics as a result of corporate sustainability initiatives.

Sustainability can be defined as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs." Central to sustainability is finding a balance between present and future needs, focusing on social rights, environmental protection, and economic development.
Cost reduction, resource preservation, legislative compliance, reputation and right initiatives are some of the reasons why businesses focus on sustainability programs.
The drive for continuous improvement in products and markets has made organizations environmentally aware and become a part of an ever-increasing standard of business ethics. As companies drive to increase shareholder values through profits and margins, internal and external business sustainability has become the new doctrine for success. The mantra of this new management culture is one that equates business growth with business sustainability while raising the plateau for greater and higher ethical standards. When a company knows what it really stands for, and when this knowledge guides company decisions about what to do and what not to do in most situations, then the problem of ethical compliance largely fades away. Owing to their wholehearted approach to ethics, these companies are steps ahead of competitors in their categories.
In many ways, businesses have significantly shifted away from a traditional model which suggested that addressing environmental concerns is a distraction from core functions. In fact, some businesses are finding that well managed social responsibility programs and corporate sustainability initiatives can be a driver for competitive advantage and new business opportunities.