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:
“The bottom line on bonding with multiples seems to be that if you see bonding as a static event—a moment in time at which you must have eye contact and skin contact simultaneously with two or more infants—you may indeed be in trouble.”
—Pamela Patrick Novotny (20th century)
“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)
“When an opinion has taken root in a democracy and established itself in the minds of the majority, it afterward persists by itself, needing no effort to maintain it since no one attacks it. Those who at first rejected it as false come in the end to adopt it as accepted, and even those who still at the bottom of their hearts oppose it keep their views to themselves, taking great care to avoid a dangerous and futile contest.”
—Alexis de Tocqueville (1805–1859)
“I had crossed de line of which I had so long been dreaming. I was free; but dere was no one to welcome me to de land of freedom. I was a stranger in a strange land, and my home after all was down in de old cabin quarter, wid de ole folks, and my brudders and sisters. But to dis solemn resolution I came; I was free, and dey should be free also; I would make a home for dem in de North, and de Lord helping me, I would bring dem all dere.”
—Harriet Tubman (c. 1820–1913)