The triple bottom line is a sustainability concept that integrates environmental, financial, and social concerns; Digital image. Sustainability Degrees. N.p., 10 July 2014. Web.
Sustainability has many definitions and different people have differing interpretations of it. Traditional definitions pertain to environmental sustainability. However, sustainability can also concern other topics such as a business's ability to be successful during change.
Here are three common ways in which environmental sustainability is defined:
The definition you use will depend on your goals. Most people use the first and second definitions because they are more straightforward. If you are only concerned about lowering your environmental footprint, this is the easiest way to go. However, you should use the third definition for a more balanced approach to environmental planning.
The triple bottom line is a balanced approach to planning that incorporates social, environmental, and financial concerns. These are more commonly known as people, planet, and profit.
The triple bottom line often begins with a goal in one of its three categories. The goal may be to help the public, reduce environmental impact, or make money. The other two factors follow closely behind.
Example — An organization sets an environmental goal (planet) using the first or second sustainability definition. Individual divisions must meet the goal within budget (profit) while still delivering services at the same level (people).
Sometimes an organization may start with either a budget or a service goal that leads to the triple bottom line.
Example — An organization sets a goal to cut budget overhead (profit). They choose to reduce energy consumption (planet), which also improves public health because of cleaner air (people).
To be more sustainable, you must first identify where you can make changes. Start by looking at what you do on a day-to-day basis. List these activities; then list the impacts for each triple-bottom-line category. The sustainable solution will change depending on many factors, including your location and budget.
Below are some worksheets to help you work with the triple bottom line. Each worksheet has one example for your personal or organizational use.
| Buying Products | |
|---|---|
| Planet Impact | Do you have a policy requiring products with environmental certification? |
| People Impact | Do companies in your supply chain offer safe and humane working environments? |
| Profit Impact | How much do the initial product, operation, and maintenance cost? |
| Sustainability Goal | Procurement contracts should include planet and people requirements. Conduct life-cycle evaluation prior to purchase. |
| Making Dinner | |
|---|---|
| Planet Impact | How much water goes into growing your food? |
| People Impact | Do you volunteer to make dinner for those living in poverty? |
| Profit Impact | What is your budget? |
| Sustainability Goal | Make a budget and reduce purchases of foods that require a lot of water to produce (e.g., beef). Consider volunteering to help the hungry in your community. |
| Business Travel | |
|---|---|
| Planet Impact | How are you getting to your destination and how much fuel do you use? |
| People Impact | Are you supporting local economies on your trips? |
| Profit Impact | How much are you spending on lodging and transportation? |
| Sustainability Goal | Use public transit, trains, and carpooling when possible. These reduce air emissions, are operated locally, and save money. |
| Recycling | |
|---|---|
| Planet Impact | Are you recycling everything you can? |
| People Impact | Are your recycling contracts with small businesses? |
| Profit Impact | Are you getting the highest possible returns from your recycling contracts? |
| Sustainability Goal | Look at everything in your waste stream and ask, "Can this be recycled?" Research the market value, and obtain local contracts with small businesses where possible. |
Here are some common sustainability goals that can help you start brainstorming.
| Common Planet Goals | Common People Goals | Common Profit Goals |
|---|---|---|
| Use less water | Buy local | Cut the budget |
| Reduce carbon emissions | Promote workplace diversity | Increase revenue |
| Recycle | Provide quality education | Gain new customers |
| Buy environmentally friendly products | Decrease hunger and improve nutrition | Obtain more affordable products and services |