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 triple, bottom and/or line:
“Their martyred blood and ashes sow
O’er all the Italian fields where still doth sway
The triple tyrant; that from these may grow
A hundredfold, who, having learnt thy way,
Early may fly the Babylonian woe.”
—John Milton (1608–1674)
“The terrorist and the policeman both come from the same basket. Revolution, legality—counter-moves in the same game; forms of idleness at bottom identical.”
—Joseph Conrad (1857–1924)
“What we are, that only can we see. All that Adam had, all that Caesar could, you have and can do. Adam called his house, heaven and earth; Caesar called his house, Rome; you perhaps call yours, a cobbler’s trade; a hundred acres of ploughed land; or a scholar’s garret. Yet line for line and point for point, your dominion is as great as theirs, though without fine names. Build, therefore, your own world.”
—Ralph Waldo Emerson (1803–1882)