Journal of Sustainability Education Vol. 16, December 2017 ISSN: 2151-7452 Dr. Pramod Kumar Sharma is working with Centre for Environment Education, Ahmedabad and has been managing programmes of education for sustainable development for more than 17 years. An MBA himself, he has a keen interest to engage business leaders to develop perspective on sustainable development. He has PhD in assessment of environmental literacy. Prof. (Dr.) Sanjeev Prashar is faculty of Marketing Management at IIM Raipur. Before joining IIM Raipur, Drhe worked as Professor with Institute of Management Technology (IMT), Ghaziabad, India in the area of Marketing Management. His last assignment was at Dubai as Chairperson- Professor In charge of PGDM, Dual Country Progamme, an internationally approved academic programme Prior to this, he worked with Amity Business School Noida as Professor and Program Incharge MBA (Entrepreneurship and Leadership). Understanding of Sustainability amongst Students of Management– A Case of Indian Institute of Management, Raipur, State of Chhattisgarh, India Dr Pramod Kumar Sharma Centre for Environment Education, Ahmedabad, India Prof. (Dr) Sanjeev Prashar Indian Institute of Management, Raipur, India Abstract: India has compulsory teaching and learning of Environmental Education at all levels of formal education. This was mandated through a Supreme Court directive. This study was conducted using a survey instrument that was used as a proxy of sustainability literacy. The instrument had open-ended questions to gauge the respondent’s perspectives, close ended knowledge-based questions, statements to understand attitudes and their awareness of eco-labelling/certification. The target group of study was the entire batch of 90 students (15 Female and 75 Male) that had joined the postgraduate programme in 2014. The students came with about of year of work experience. The major background was engineering and science with only eight percent with commerce background. All were found to be high achievers in their previous education in school and graduation. Content analysis of the open ended question showed that 24 percent of the students agreed that economic development at the cost of environment is a short term solution, followed by 16 percent each saying that there is a need to have a balance or economic development should be at the least environmental cost. About seven percent said that economic profit can improve the environment and there is no option left if we need economic development. Only six percent putting comfort over the environment. Although the attitude was very positive, about 62 percent of the students were not able to articulate the difference between the quality of life and standard of living. 75 percent of the respondents supported the compulsory CSR act. 71 percent were in favour of extended producer responsibility. There seems to be a limited understanding of sustainable development and equates it to environmental conservation as any lay person who is informed by mass media. 72 percent did not understand the term Green Washing. The awareness was found to be moderate. Profit maximisation was the understanding as the goal of a business. Nearly half of them were of the opinion that consumers will not pay for environmentally friendly products. Although a high of 89 percent said that eco-labelling has an influence on consumer behaviour, very few of them were aware of eco-labels. Almost all agreed that polluters should pay 67 percent of them also believe that environmental clearances are an impediment to economic growth and 64 percent believe that privatisation leads to better utilisation of resources. The study shows a pro environment attitude but at the same time a limited understanding of the depth of issues and only the economic centric perspective of sustainable development.