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)
“They have their belief, these poor Tibet people, that Providence sends down always an Incarnation of Himself into every generation. At bottom some belief in a kind of pope! At bottom still better, a belief that there is a Greatest Man; that he is discoverable; that, once discovered, we ought to treat him with an obedience which knows no bounds. This is the truth of Grand Lamaism; the “discoverability” is the only error here.”
—Thomas Carlyle (1795–1881)
“I fear I agree with your friend in not liking all sermons. Some of them, one has to confess, are rubbish: but then I release my attention from the preacher, and go ahead in any line of thought he may have started: and his after-eloquence acts as a kind of accompaniment—like music while one is reading poetry, which often, to me, adds to the effect.”
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)