Sustainable business in the European economic area

Abstract

The European Green Deal creates a framework for sustainable business and for the implementation of new models of business and service provision. Sustainable business promoted by the European Union is determined by the enforcement of common measures in all EU member states. The paper aims to clarify a new business model, namely a sustainable business model, adopted by business companies which incorporate sustainability into the management and management systems of the company and make managerial decisions with regard to the protection of human rights and the protection of the environment. By using scientific methods such as a systematic analysis of valid legislation framework of sustainable business, a survey of factors influencing sustainable business, synthesis of acquired knowledge, and the comparison of acquired data, the authors formulated recommendations regarding sustainable business. A key aspect of sustainable business is the business environment, based on the principles of fairness, transparency, environmental sustainability, decent work and human dignity. Sustainable businesses are a benefit to the economy of each EU member state and a source of growth and employment. The benefit of the paper is to highlight of the EU activities, promoting sustainable development and the transition of economies and business companies to sustainability.