The Triple Bottom Line Theory: The Triple Bottom Line Concept
The Triple Bottom Line Concept The triple bottom line term was coined in the 1990s by business consultant John Elkington to describe economic, environmental, and social value of investment that may accrue outside a firm’s financial bottom line (Elkington, 2004). The TBL approach aims to more accurately value assets and lever- age resources, so that capital is employed as efficiently and effectively as possible. The concept is sometimes referred to as the 3Ps (people, planet, profit), triple value adding (Roberts & Cohen, 2002), and blended value (Emerson, 2003). Triple bottom line thinking is informed by and relates to the concept of sustainable development—the premise that development should occur in ways that meet the needs of cur- rent …show more content…
Conflation of the terms has roots in the belief that structural economic development is a precursor to economic growth, as well as the belief that economic growth is a precursor to improved well-being (development). However, the premise of inextri- cable positive links between growth and development has been the subject of much debate. As detailed below, ques- tions relating to growth and development primarily fall into three related but distinct categories: those that consider the relationship between economic growth and human well- being, those that consider the role of natural capital in sus- taining economies, and those that consider the process by which economic development …show more content…
Despite increased attention to social and environmental dimensions of economic development, however, a definition of TBL or sustainable economic development is lacking. Addressing that gap, we define TBL or sustainable economic development as programs, policies, or activities designed to create or retain jobs and wealth in ways that contribute to environmental, social, and economic well-being over time.2 It is distinct from economic growth or development, which may or may not contribute to overall well-being including quality of life, fiscal health, resource stewardship, and resilience. This line of thinking suggests that economic systems exist to serve human well-being, that human and economic well-being are inextricably linked to environmental well-being, and thus, that human, environ- mental, and economic well-being must be considered in the design and evaluation of economic development
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Walt Disney Company Triple Bottom Line
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L Oreal Triple Bottom Line
746 Words | 3 PagesIntroduction Sustainability has been mentioned as a goal of businesses. During the mid 1990s John Elkington created the triple bottom line plan under the concept of sustainability. Sustainability can be defined in many ways, but the simplest way is “Ability to sustain” (Sustainability, 2010). The triple bottom line is an accounting framework, and there are three dimensions of sustainability among them people, planet and profit (3Ps). The concept of TBL is to measure the profitable, social and environmental performance of the company.
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Strengths And Weaknesses Of Sustainable Development
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The Three Pillars Of Sustainable Development
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Essay On Green Economy
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Essay On Economic Growth And Economic Development
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