Is the Triple Bottom Line Really That Important?

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In your textbook, you learned about the triple-bottom-line (TBL) framework and its impact on people, planet, and profit. The TBL concept was initially developed by John Elkington in 1994. In 2018, Elkington wrote an article titled “25 Years Ago I Coined the Phrase ‘Triple Bottom Line’: Here’s Why It’s Time to Rethink It”. He used the article as a call to strengthen how the TBL is used and to put more even more focus on sustainability and less on profit. In the article, he states:
But 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 wellbeing of billions of people and the health of our planet, and the sustainability sector’s record in moving the needle on those goals has been decidedly mixed. While there have been successes, our climate, water resources, oceans, forests, soils and biodiversity are all increasingly threatened. It is time to either step up—or to get out of the way.
Meanwhile, some believe that incorporating this framework into practice raises more questions than it resolves, especially around reporting, regulation, and a deviation from the financial bottom line of businesses.
In your initial post, address the following questions:
• Do you think that it is the responsibility of businesses to track and manage the social, economic, and environmental impacts of their actions? Why or why not?
• What value does using the TBL bring to a business, and is it worth the potential drawbacks of incorporating it?
• What value do businesses using the TBL bring to society, and how might society be impacted if TBL were not a common business practice?

Sample Solution

There is much ambiguity in the world. Massive issues like climate change, poverty, and inequality are prevalent in daily life and seem to be getting worse before getting better. The need for change is one thing that is definite, according to the online course Sustainable Business Strategy. A sustainable business strategy’s overarching objective is to increase profits for shareholders while simultaneously having a positive influence on the environment, society, or both. Business executives are becoming more and more aware of how effective sustainable business methods can be in solving the world’s most pressing problems and ensuring the success of their companies. It might be difficult to define sustainability, establish definite, attainable goals, and create a plan of action to get there.

of adequate quality and should be achievable. The Committee on Economic, Social and Cultural Rights (from now on alluded to as CESCR) has obviously characterized that concerning the availability of water, it should be made accessible sans separation as well as financially and truly achievable.

Concerning oppression the availability to water, General Comment No 15 has explicitly expressed that all water amneties as well as administrations should be made achievable to all people, particularly to the “most defenseless or underestimated areas of the poppulation” with severe preclusion on separation. Besides, Contracting States owe an obligation to its residents for the counteraction any unfair treatment on all universally restricted warrant in measures connecting with water and its ministrations.

In its endeavor to clarify the right to wellbeing, the CESCR expected a homogenous meaning of the term openness by legitimizing that a causal component of wellbeing like consumable water, is expected to be available to all people, dominatingly for “the most defenseless or underestimated segments of the populace [… ] inside safe actual reach for all areas of the populace [and] reasonable for all.” Mr. Paul Hunt makes sense of that for the full delight in the most elevated available level of physical and emotional well-being, there should be made accessible all essential causal components connected with wellbeing including wellbeing conveniences, items as well as offices.

By talking about the relations of water to one side to wellbeing, it should be featured that physcial attainable quality requires that “water, and satisfactory water offices and administrations, should be inside safe actual reach for all areas of the poppulation” . Water that is harmless in nature, satisfactory and adequate should be reachable inside or in quick closeness of “every family, instructive establishment and working environment”.

Based on monetary feasibility, it is fundamental that that admittance to arrangements for water and its administrations should be made sensibly valued for all. The CESCR has plainly portrayed that any settlement for water administrations should be on the premise on “the guideline of value”, with the assurance that the said administrations, whether it be public or secretly outfitted, should be made financially acessible to all with the consideration of “socially hindered gatherings”. Moreover, the CESCR proceeded to indicate that “the immediate and roundabout expenses and accuses related of getting water should be reasonable, and should not think twice about compromise the

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