Triple-Bottom Line (TBL) Analysis
Conservation of environment is becoming vital in 21st century, many corporates understand the importance of sustainability reporting which in turn helps in identifying significant business opportunities, and many organizations believe that if environmental practices become part of corporation's code of conduct, it will attract greater number of customers and employees. The driving force for sustainable practices is the concern for the environment and society the other driving forces are improved brand image, reputation and trust among customers and employees, cost performance etc.
People, Planet And Profit Are The Three Pillars Of Triple-Bottom-Line Analysis
The Triple-bottom line analysis is the basis for sustainability reporting which includes analysis of Social (People) Environmental (Planet) and Economic (Profit).
The First Pillar: People
Human resources are the most valuable assets for an organization. In this stage of analysis, we study the human resource policies of the organization and analysis of investment in community development programs through sponsorships, donations or projects.
The Second Pillar: Planet
The study of organizational impact on environment the activities include procuring raw materials, to production process, to shipping and administration. It also includes offering a recycling program or refrain from the production of toxic items.Supplier audits are also part of the analysis because supply chains are also accountable to the overall impact of the organization
The Third Pillar: Profit
Making profit in harmony with the other two pillars of TBL is important
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