*2.1. Sustainable Development and Its Objectives*

Given the harsh international regulations concerning environmental protection and high green awareness of consumers, it is critical to adopt an innovative approach to contemporary organization management. This will pave the way towards new paradigms, which will show the route to follow in order to attain a lasting competitive edge. Sustainable development is based on the pursuit of best economic performances, while respecting the natural environment and social development [13]. According to the World Commission on Environment and Development, sustainable development is development that satisfies the needs of the present generation without preventingthe ability offuture generations to meet their own needs (World Commission on Environment) [14]. The concept draws upon/accomplishes goals inthree areas:



As noted by Komiyama and Takeuchi, within the concept of sustainable development, there is considerable pressure on liquidating growth barriers, poverty, implementing innovative solutions, environmental protection, and resource restoration, which arecrucial, given the new global conditions [16]. Sustainability means finding a balance between the developmental needs of the organization and environmental protection [17]. The main vector of sustainable development is the "green economy" [18].

In 2015, in New York, 193 UN states unanimously adopted a new 2030 agenda, consisting of 17 sustainable development goals and 169 sustainable development tasks. The agenda started a new era of international-level cooperation, obliging all states to undertake a number of sustainable development-centered actions. Countries must seek ways to prevent poverty, increase welfare, and meet the health, education, and sporting needs of people, while protecting the environment [19].

Implementing sustainable development goals requires corporate sustainability in economic, environmental, and social areas. Economic sustainability involves increasingcorporateprofitability through efficientuse of resources, effective projects and undertakings, and good management practices. Ecological sustainability requires protecting the environment by sparing the use of natural resources [20] and promoting renewable resources. The core of social sustainability is to recognize and consider the needs of the local population [21]. Sustainable development is an unending process of change management because it requires permanent modifications of habits, values, awareness, and behaviors of employees, consumers, company owners, decision-makers, and managers. A shift in ecological awareness is particularly relevant [22].

The subject literature demonstrates an increasing popularity of the thesis—that the key elements of the modern sustainable management strategy are intangible assets, above all, green intellectual capital [12,23]. This is due to the fact that research studies corroborate the positive impact of GIC on corporate environmental performance [24].
