The chapter acknowledges a broad consensus following the recession of 2008 that ethically challenging practices have permeated the world of today’s businesses. Not only are the developing and emerging economies suffering from unethical corporate practices, they are also plagued by poor leadership. They also note that, in many cases, business leaders and entrepreneurs fail to understand their discretionary responsibilities to care for the ecosystem on which lives and businesses depend in enjoying the fruits of the free market and taking advantage of weak governance mechanisms and poor leadership, especially in the developing and emerging economies. The authors argue that the tenets of sustainability, which emphasizes the purpose of business as economic advancement coupled with concerns for socio-environmental well-being, offers some direction towards filling the ethical gap in management education to ensure sustainable development in the emerging economies. The chapter therefore examines how sustainability education can be more deliberately advanced in business and management education institutions in the emerging and developing countries.