This chapter explores the evolution of sustainability as a key driver of corporate value and its integration into strategy and regulatory frameworks. It traces the historical development from the Club of Rome’s Limits to Growth and the Brundtland Report to international agreements such as the Rio Conference, the Millennium Development Goals, the 2030 Agenda, and the Paris Agreement. The ESG paradigm—environmental, social, and governance—is presented as the main framework linking sustainability performance to competitiveness, investor confidence, and long-term value creation. The chapter also examines the European regulatory evolution, from voluntary Corporate Social Responsibility practices to binding obligations under SFDR, EU Taxonomy, CSRD, ESRS, and CSDDD, emphasizing transparency, accountability, and capital allocation. Finally, the 2025 Omnibus package is discussed, showing how sustainability has transitioned from a voluntary principle to a strategic and regulatory imperative shaping corporate governance, finance, and resilience.