The triple bottom line (abbreviated as TBL or 3BL, and also known as people, planet, profit or the three pillars) captures an expanded spectrum of values and criteria for measuring organizational (and societal) success: economic, ecological, and social. With the ratification of the United Nations and ICLEI TBL standard for urban and community accounting in early 2007, this became the dominant approach to public sector full cost accounting. Similar UN standards apply to natural capital and human capital measurement to assist in measurements required by TBL, e.g. the EcoBudget standard for reporting ecological footprint.
In the private sector, a commitment to corporate social responsibility (CSR) implies a commitment to some form of TBL reporting. This is distinct from the more limited changes required to deal only with ecological issues.
Read more about Triple Bottom Line: Definition, Bottom Lines, Supporting Arguments, Criticism, Legislation
Famous quotes containing the words bottom line, triple, bottom and/or line:
“Unfortunately, we cannot rely solely on employers seeing that it is in their self-interest to change the workplace. Since the benefits of family-friendly policies are long-term, they may not be immediately visible or quantifiable; companies tend to look for success in the bottom line. On a deeper level, we are asking those in power to change the rules by which they themselves succeeded and with which they identify.”
—Anne C. Weisberg (20th century)
“And DANTE searched the triple spheres,
Moulding nature at his will,
So shaped, so colored, swift or still,
And, sculptor-like, his large design
Etched on Alp and Apennine.”
—Ralph Waldo Emerson (1803–1882)
“The brown waves of fog toss up to me
Twisted faces from the bottom of the street,
And tear from a passer-by with muddy skirts
An aimless smile that hovers in the air
And vanishes along the level of the roofs.”
—T.S. (Thomas Stearns)
“Any walk through a park that runs between a double line of mangy trees and passes brazenly by the ladies’ toilet is invariably known as “Lover’s Lane.””
—F. Scott Fitzgerald (1896–1940)