ABSTRACT
This chapter explores the key development about the financial aspects of incorporating the natural environment into sport organization operations. The United Nations 2005 World Summit Outcome Document refers to the 'interdependent and mutually reinforcing pillars' of sustainable development, which are: economic development, social development and environmental protection. Environmental, social and governance (ESG) practices of an organization occur in a number of different ways example Environmental Social Governance, Corporate Social Responsibility and Sustainability. Embedding sustainability strategically can add value to and realize benefits for organizations, including sports organizations. Sustainability strategies may include either isolated or multiple coordinated measures. Codes and standards play an important role in encouraging companies to adopt sustainable practices, as they can provide a common understanding of CSR issues and a more uniform approach to managing environmental, social and economic risks. The use of the ISO 20121 standard sets a framework for an organization to start its sustainability journey.
