What is triple bottom line profits

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The triple bottom line or otherwise noted as TBL or 3BL is an accounting framework with three parts: social, environmental or ecological and financial. Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value. In traditional business accounting and common usage, the " bottom line " refers to either the "profit" or "loss", which is usually recorded at the very bottom line on a statement of revenue and expenses.

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All businesses must make money. But triple bottom line companies realize that they can do more. Traditionally, business leaders concerned themselves with their bottom lines—or, the monetary profits their businesses made.

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As Corporate Social Responsibility CSR initiatives have become more and more popular, the attention of performance management has turned away from only financial and towards a more holistic approach. The model was developed by John Elkington, in his book SustainAbility. The author argues it is beneficial for any organisation to take their performance analysis beyond traditional measures of financial performance.

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Imagine going to work every day for a company that you are truly excited about, and proud to be a part of. They stand out from the typical "cut-throat" business world by the way they treat suppliers, their commitment to environmental sustainability, their ethical investments, and their desire to empower and promote their team members instead of dragging them down. There is a constant air of excitement and possibility at the office, and you love coming to work each day.

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A triple bottom line organization takes steps to ensure that its operations benefit the company's employees as well as the community in which it conducts business. Human resources managers of TBL entities are concerned, not just with providing adequate compensation to its workers, but also with creating a safe and pleasant working environment and helping employees find value in their work. TBL companies actively seek positive ways to contribute to the community through activities, such as charitable contributions, education programs and equal opportunity employment.

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Elkington's Triple Bottom Line model is an influential model that has helped share the corporate social responsibility agenda. The short video below provides an overview of Elkington's Triple Bottom Line model and there are some additional study notes below the video. The Triple Bottom Line is a concept that encourages the assessment of overall business performance based on three important areas: Profit, People and Planet.

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It was the old time when business companies were only concerned about their profits and revenues. With the change in time, many innovations and modifications cropped up. We have begun caring about our environment and become aware of its present conditions.

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ESC advocates held that investors should target companies with a proven track record in environmental and social responsibility. Triple bottom line auditing was devised to measure that track record. Those decisions encouraged financial institutions to create ethical investment funds and companies to adopt triple balance sheet auditing. It does this by costing all company activity and calculating whether the company is making a financial profit or a loss.

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October 25, John Elkington is a world authority on corporate responsibility and sustainable development. He is currently Founding Partner and Executive Chairman of Volansa future-focused business working at the intersection of the sustainability, entrepreneurship and innovation movements.

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Today, we continue to outstrip our planetary boundaries with no sign of slowing down. How often are management concepts subjected to recalls by the people who invented them? It is hard to think of a single case.

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