Triple bottom line .

• Triple bottom line

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Sustainable procurement - Exogenous considerations: the “triple bottom line”

1 Sustainable procurement broadens this framework to take account of

third-party consequences of procurement decisions, forming a

“Triple bottom line|triple baseline” of external concerns which the

procuring organisation must fulfil.


Triple bottom line

1 The concept of a 'triple bottom line' (abbreviated as 'TBL' or '3BL') adds two more bottom lines; social and

environmental concerns


Triple bottom line

1 An example of an organization seeking a triple bottom line would be

a social enterprise run as a non-profit, but earning income by offering opportunities for handicapped people

who have been labelled unemployable, to earn a living

recycling


Triple bottom line - Definition

1 In 1981 Freer Spreckley first articulated the triple bottom line in a publication called

'Social Audit - A Management Tool for Co-operative Working'.Freer Spreckley 1981

[http://www.locallivelihoods.com/cmsms/uploads/PDFs/Social%20Audit%20-%20A

%20Management%20Tool.pdf Social Audit - A Management Tool for Co-operative Working]

In this work, he argued that enterprises should measure and report on social,

environmental and financial performance.



1 The phrase was coined by John Elkington in his 1997 book Cannibals with Forks: the Triple

Bottom Line of 21st Century Business.Brown, D., J. Dillard and R.S. Marshall. (2006)

[http://www.recercat.net/bitstream/2072/2223/1/UABDT06-2.pdf Triple Bottom Line: A business metaphor for a social construct.] Portland State University, School of Business Administration.

Retrieved on: 2007-07-18. Sustainable Development, was most famously defined by

the Brundtland Commission of the United Nations in 1987.



1 1998 also marked the foundation of the Triple Bottom Line Investing group by Robert J. Rubinstein, a

group advocating and publicizing these principles.



1 A growing number of financial institutions incorporate a triple

bottom line approach in their work. It is at the core of the business of banks in the Global Alliance for Banking on Values, for example.


Triple bottom line - Bottom lines

1 The triple bottom line is made up of social equity, economic, and environmental factors.



1 People, planet and profit succinctly describes the triple bottom lines and the goal of sustainability. The phrase, people,

planet, profit, was coined by John Elkington in 1995 while at SustainAbility, and was later adopted as the title of the

Anglo-Dutch oil company Shell's first sustainability report in 1997. As a result, one country in which the 3P concept took

deep root was The Netherlands.



1 A triple bottom line enterprise seeks to benefit many constituencies, not

exploit or endanger any group of them



1 A triple bottom line company does not produce harmful or destructive products such as weapons, toxic chemicals or batteries containing

dangerous heavy metals, for example.


Triple bottom line - Supporting arguments

1 Advocacy for triple bottom line reforms is common in Green Parties. Some of the measures undertaken in the European Union towards the Euro currency integration standardize the

reporting of ecological and social losses in such a way as to seem to endorse in principle the notion of

unified accounts, or unit of account, for these deficits.


Triple bottom line - Criticism

1 While many people agree with the importance of good social conditions and preservation of the environment,

there are also many who disagree with the triple bottom line as the way

to enhance these conditions. The main arguments against it are

summarised below.



1 *Reductive method: In the triple bottom line, a corporate-oriented

approach, the social—that is, the way in which humans live and relate to

each other and the environment—is secondary



1 Thus the triple bottom line is thought to be harmful by diverting business

attention away from its core competency



1 Support for the concept of the triple bottom line itself is said to be an

example of the choices available to the citizens of a society made

wealthy by businesses attending to business



1 *Libertarianism|Libertarian: As it is possible for a socially responsible

person to sincerely believe that the triple bottom line is harmful to

society, the libertarian view is that it would be arrogant to force them to

support a mechanism for the improvement of society that may, or

may not, be the best available



1 The concept of a triple bottom line, while initially attractive, seems to ignore the reality that if one is not

adding value to society it is subtracting value. So creating a third

bottom line for the environment often can lead organizations to fragment the societal (or Mega) bottom line. (Kaufman, 2011,

Bernardez, 2005)https://store.theartofservice.com/the-triple-bottom-line-toolkit.html

Triple bottom line - Legislation

1 Legislation permitting corporations to adopt a triple bottom line is under consideration in some jurisdictions, including Minnesota and Oregon.



1 Some businesses have voluntarily adopted a triple bottom line as part of their articles of incorporation or bylaws, and some have advocated

for state laws creating a Sustainable Corporation that would grant triple

bottom line businesses benefits such as tax breaks.



1 The triple bottom line was adopted as a part of the State Sustainability

Strategy,[http://web.archive.org/web/20070830000447/http://www.sustain

ability.dpc.wa.gov.au/docs/Final%20Strategy/SSSFinal.pdf

Government of Western Australia


Corporate social responsibility - Triple bottom line

1 People planet profit, also known as the triple bottom line, are words that

should be used and practiced in every move an organization makes.



1 Planet refers to sustainable environmental practices. A triple bottom line company does not produce harmful or destructive

products such as weapons, toxic chemicals or batteries containing

dangerous heavy metals for example.



1 Despite the fact that adopting this triple measure has helped some companies be more conscious of

their socialhttp://www.investopedia.com/te

rms/s/socialresponsibility.asp and moral

responsibilities,http://plato.stanford.edu/entries/moral-responsibility/ the

triple bottom line has its criticshttps://store.theartofservice.com/the-triple-bottom-line-toolkit.html

Community supported fishery - Triple bottom line

1 Community-supported fishery programs operate on a triple bottom line, which

incorporates environmental stewardship, economic stability, and social

improvements as goals of their business. The success of each aspect is intricately tied to the success of other two, creating

a balance that benefits the fishermen, the consumers, and the health of the

environment.


Corporate responsibility - Triple bottom line

1 People, planet and profit, also known as the triple bottom line form one way to evaluate

CSR.


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