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)
“And we fairies, that do run
By the triple Hecate’s team
From the presence of the sun,
Following darkness like a dream,
Now are frolic. Not a mouse
Shall disturb this hallowed house.”
—William Shakespeare (1564–1616)
“Death’s at the bottom of everything, Martins. Leave death to the professionals.”
—Graham Greene (1904–1991)
“We are apt to say that a foreign policy is successful only when the country, or at any rate the governing class, is united behind it. In reality, every line of policy is repudiated by a section, often by an influential section, of the country concerned. A foreign minister who waited until everyone agreed with him would have no foreign policy at all.”
—A.J.P. (Alan John Percivale)