Economic sustainability refers to practices that support long-term economic growth without negatively impacting social, environmental, and cultural aspects of the community. It is a broad set of decision-making principles and business practices aimed at achieving economic growth without engaging in activities that harm the environment or society. Economic sustainability is important because it cannot achieve long-term growth if it exhausts natural or human resources.

Here are some ways to be economically sustainable:

• Donate: Donate to Economics of Philanthropy in the non-profit sector through the UMW foundation.
• Shop locally: Commit to shopping at local businesses and restaurants.
• Buy second-hand: Commit to purchasing the majority of your clothes from thrift and second-hand stores.
• Manage resources: Conserve natural and financial resources to create long-term financial stability.
• Balance economic growth: Balance economic growth and generating profit with the impact on the environment and people.

Economic sustainability is incorporated into the United Nations Sustainable Development Goals (SDGs), a set of 17 interlinked goals which provide a roadmap for countries and governments to create long-lasting and sustainable growth. Social aspects can involve such issues as respect for human rights, following fair labor practices, and gender equality. Environmental aspects include responsible consumption and protecting the air and water from pollution.

In summary, economic sustainability is about balancing economic growth and generating profit with the impact on the environment and people. It is important for businesses to recognize the benefits of economic sustainability as it serves as a domino effect to increase sustainability worldwide.