All businesses and commercial organisations are well aware of the term ‘bottom line’ and its meaning. This is derived from the final line in the financial accounts of a company, stating the total profit or loss.
Should we now be looking at more than just the bottom line in this day and age of environmental concern and climate change? The answer, while potentially open to much debate and discussion, is unequivocally yes. Why?
Sustainability is a much used and well debated term at present. That’s a good thing, but ultimately there’s a bigger picture than that; the protracted and continued abuse of planet Earth, the plunder of its resources and its increasingly fragile environment and volatile climate will ultimately not end well for the human race. Unless something is done. Soon.
Success or failure on sustainability goals cannot be measured only in terms of profit and loss. It must also be measured in terms of the health of our planet and the well being of billions of people.
The triple bottom line (TBL) is a framework where business success is defined by three key elements: monetary value, social value and environmental value. Triple bottom line theory recommends that companies commit to focus on social and environmental concerns just as they do on profits. Leading protagonists of TBL puts forward in simplistic terms, that instead of one bottom line, there should be three: profit, people, and the planet.
In the capitalist world we are driven to work and make money both personally and at a corporate level. The ethos of the triple bottom line, when implemented properly, can become a driving force behind reducing and hopefully helping to solve the environmental crisis. And the fact is, that your consumers, your investors, and your employees all care about the impact your company has on the planet and on society itself. A recent survey claimed that 72% want brands and companies to be positive contributors to society, and that 87% will have a more positive impression of a company that looks to tackle social or environmental issues. Is this really a portion of your audience you can afford to ignore?
New thinking and action are required: what is best for business is also best for the planet.
The sustainability sector’s record on achievement has been decidedly mixed. There have been limited successes, however our climate, water resources, oceans, forests, soils and biodiversity are all increasingly threatened. It is time to either step up or accept the facts about the trajectory we are on.
Environmental value is now more important than ever. There will be no overnight fix, prolonged and continued change is required. Seismic shifts in attitudes and behaviour are needed to save our much loved planet Earth and to perpetuate the long term future of the human race. Before it’s too late.
Certified Sustainable accreditation provides a clear and visible means for UK manufacturers to showcase their commitment to best-practice waste management and sustainability.
