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Sports Marketing & Sponsorship - FIFA/CIES International University ...

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Sustaining the raceenvironmental sustainability rather than economic,social or cultural sustainability. However, these otherforms of sustainability are inter-related and so shouldnot be understood in isolation.The significance of sustainabilityThe concept of sustainability has become increasinglyimportant. Its relevance and influence is noted byWilkinson and Yencken (2000, p.9), who argue that itis an idea that has “become formally adopted aroundthe world” and is evident in two key spheres of humancivilisation: government and commerce.In terms of government, we see the influence ofsustainability in the form of the creation of institutionswhose purpose is to preserve aspects of ourenvironment such as the Intergovernmental Panel onClimate Change (IPCC, 2007), the United NationsEnvironment Protection Agency – UNEP (UnitedNations Environment Programme, 2007) and inagreements such as ‘United Nations FrameworkConvention on Climate Change’ (UNFCCC, 2007)known widely as the Kyoto Protocol.In terms of commerce, we see its influence in theevolution of markets. For example, we now havecorporations offering investment advice according tomeasures of environmental and social sustainability.These include the Zurich-based Sustainable AssetManagement – SAM and its Australian subsidiary,Sustainable Asset Management Australia – SAMA(Alberici, 2003).In Australia, major banks such as the ANZ Groupare offering sustainable investment products (ANZ,2007), while Westpac (2007) applies sustainabilitymeasures when assessing applications for finance.There is also some evidence that investors generallyare placing increasing emphasis on environmentalsustainability credentials (Burrow, 2007).One issue that reflects the extent to whichsustainability has been adopted as an operatingprinciple for business is that of anthropogenic climatechange. Sectors of the global business community,both before and after Sir Nicholas Stern (2006)warned that there is now a compelling economic casefor carbon-constraint, have accepted the need toreduce the global level of greenhouse gases (GHGs).These include:• The Carbon Trust in the United Kingdom (CarbonTrust UK, 2009)• The Greenhouse Gas Protocol Initiative jointlyoverseen by the World Business Council forSustainable Development (WBCSD) and the WorldResources Institute (WBCSD, 2009)• The growing trade in carbon emissions at theEuropean Climate Exchange (2009) and theChicago Climate Exchange (2009)• The role of the <strong>International</strong> Carbon Bank &Exchange (2009) in facilitating renewable energyinvestment, manufacturing and ‘carbon safeproducts, standards and fuels’.Sustainability: the current situationWhile the idea of sustainability has clearly gainedgreater recognition around the globe, efforts to achievesustainability for our environment so that it “cansupport life”, as Parkin puts it, have been lesssuccessful. For an up-to-date assessment of globalsustainability efforts, the latest United Nationsenvironmental assessment of the planet’s naturalcapital, Global Environmental Outlook: Environmentfor Development (GEO-4), is helpful. GEO-4 is anassessment of the health of our environment from2004 to 2007 across the four key indicators (land,water, atmosphere and biodiversity). The study wasconducted by “expert groups” that consulted with over100 governments and 50 partner organisations andwas subject to two rounds of “government and peerreview” (United Nations Environment Programme,2007a, p.2).GEO-4 is an authoritative account of globalsustainability efforts. It provides an overview ofenvironmental issues; state and trends of theenvironment between 1987 and 2007; humanRESEARCH PAPER● OCTOBER 2009 ● <strong>International</strong> Journal of <strong>Sports</strong> <strong>Marketing</strong> & <strong>Sponsorship</strong>85

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