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 DANTE searched the triple spheres,
Moulding nature at his will,
So shaped, so colored, swift or still,
And, sculptor-like, his large design
Etched on Alp and Apennine.”
—Ralph Waldo Emerson (1803–1882)
“My mind is troubled, like a fountain stirred,
And I myself see not the bottom of it.”
—William Shakespeare (1564–1616)
“Our first line of defense in raising children with values is modeling good behavior ourselves. This is critical. How will our kids learn tolerance for others if our hearts are filled with hate? Learn compassion if we are indifferent? Perceive academics as important if soccer practice is a higher priority than homework?”
—Fred G. Gosman (20th century)