Today, Sustainability is Measured Through the Concept of the Triple Bottom Line (i.e. People, Planet and Profit).
The triple bottom line is made up of people, planet and profit.
Jun 2, 2021Updated 4 days ago
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Businesses traditionally think about "bottom line" profits, but these often fail to measure external costs, like harm to people or the planet. Triple Bottom Lines take these into account.
The United Nations defines sustainability as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs” as well as “harmonizing three core elements: economic growth, social inclusion and environmental protection.”
While more and more people are aware of the environmental aspect of sustainability, as well as the necessity of balancing these efforts with financial success, the third pillar of sustainability, social inclusion (i.e. people side), is not as well understood.
It means incorporating social impact not just into a business plan but into the very ways in which they profit.
Lisa agrees with this fact based on:
Why companies are embracing the triple bottom line
Sustainability defined by the U.N.
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