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Proutist Economic Development Triple Bottom Line

Proutist Economic Development Triple Bottom Line. Dr. Michael Towsey and Dieter Dambiec. economy. ecology. community. financial value. A business enterprise takes place around three kinds of value which interact. A sustainable business will have three positive balances.

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Proutist Economic Development Triple Bottom Line

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  1. Proutist Economic DevelopmentTriple Bottom Line Dr. Michael Towsey and Dieter Dambiec  2004 Proutist Universal

  2. economy ecology community Proutist Universal

  3. financial value • A business enterprise takes place around three kinds of value which interact. • A sustainable business will have three positive balances. • The Triple Bottom Line focuses attention on three kinds of added value – economic, human / social and environmental. sustainability human & social value ecological value Proutist Universal

  4. The triple bottom line The triple bottom line Proutist Universal

  5. Who is doing it? • Royal Dutch / Shell Group • BP (British Petroleum) • Rio Tinto • British Telecom • Volkswagon Group • Toyota Motor Corporation • Credit Suisse Group • Around 290 businesses in 29 countries release sustainability reports based on the guidelines of the Global Reporting Initiative (GRI) www.globalreporting.org/about/brief.asp Proutist Universal

  6. Why are they doing it? The Prestige… The Prestige – Oil Spill 2002 Proutist Universal

  7. The Prestige Oil Spill • An environmental catastrophe occurs as a tanker sinks off the coast of Spain. • The stricken Bahamas-flagged Prestige, carrying millions of barrels of oil, leaves a slick over 200 metres wide and 30 km long off the north-western Spanish coast. • The slick threatens one of Europe's most picturesque and wildlife-rich coasts. Proutist Universal

  8. Who does the clean up work and pays? • Members of the French Navy deliver oil-trapping nets to Galician fishermen. • Workers place a floating barrier to protect the coastline from spilled oil. Proutist Universal

  9. What are the impacts? • Oil washes up on the shore in Camelle. • Spanish sailors help shovel sludge off an oil-stained beach. Proutist Universal

  10. Who has to live with it? • Inhabitants of Camelle watch clean up efforts for the Prestige oil spill. • A resident walks on an oil-soaked shore near Porto do Son. Proutist Universal

  11. Sustainability • Companies have a social responsibility to ensure their business practices are sustainable. • But look at the derangements: • The idea that business has a social responsibility is fundamentally subversive. - Milton Friedman • Anyone who does anything for anything other than profit is either a madman or a bankrupt. - Mr McKinnon, Minister for Defence, Australia, 1970s. • But what is happening now? Proutist Universal

  12. Shell Report 2002 For 2003 see:www.shell.com/home/Framework?siteId=shellreport2003-en Proutist Universal

  13. The social auditing cycle A sustainable company will: • Define its values • Define its social and environmental objectives / targets • Identify stakeholders – all those affected by its business • Account for all components of its social objectives • Report the accounting results • Have the report independently audited by qualified social auditors • Set new targets and improve its performance Proutist Universal

  14. The benefits of social auditing • “Improved employee satisfaction … improved relationships with key government stakeholders, community groups and non-government organisations … improved reputation in the market place.” (BP Australia) • “Improved relationship with regulators.” (Integral Energy, Sydney) See research by the New South Wales Chamber of Commerce: www.thechamber.com.au/homezone/Policy/TheCommonGood/CommonGood.asp Proutist Universal

  15. International standards • International reporting standards: • Global Reporting Initiative (GRI) established 1997. • www.globalreporting.org • Reports should be verifiable. • Steering group includes: U.N. Environment Program; World Business Council for Sustainable Development; New Economics Foundation. • International auditing standards: • AccountAbility: Institute of Social and Ethical Accountability. • www.accountability.org.uk • AA1000 Assurance Standard (2002). Proutist Universal

  16. Maleny Credit Union www.malenycu.com.au/reports_html www.malenycu.com.au - Ecological Sustainability indicators Proutist Universal

  17. Maleny Credit Union Governance Policies: www.malenycu.com.au/library/files/policy_gov.pdf • During the course of 2002-03 the MCU Board developed and accepted a governance policy based on the Carver Model. • See: www.carvergovernance.com/model.htm • The MCU Governance Policy covers: • Financial Sustainability; • Social Sustainability; • Environmental Sustainability. • The governance policy directs the operations of the MCU and is reviewed regularly by the Board. Proutist Universal

  18. Quadruple bottom line • Where do we go next? • The quadruple bottom line adds in culture as an accountability, reporting and auditing requirement. • It recognises that business can promote and learn from indigenous culture - thereby creating economic, social, environmental and cultural benefits. • See for example in New Zealand (Aotearoa): www.rodgerspiller.com/attachments/ethical-investor-october-2003.pdf • Also (it may be the 4th or 5th bottom line): • www.metafuture.org/Articles/spirituality_bottom_line.htm Proutist Universal

  19. Quintuple bottom line • The quintuple bottom line looks at how an enterprise works cooperatively and how the cooperative itself promotes social equality in society as a whole. • An extension of the quadruple bottom line? • Enterprises should aim to achieve a society free from all social inequalities with the human race moving in unison in its diverse and elevated expressions. • Eg, to achieve social parity, Unity: Journalists of Color Inc demands that by 2008 minority journalists should comprise no less than 20% of American newsrooms, and at least 15% of newsroom managers. See: www.unityjournalists.org/news_fcc.html Proutist Universal

  20. Cooperative action • The structural commercial or business model required to achieve social parity in day-to-day interaction and working life is the cooperative enterprise. • Cooperatives are the main means of ensuring rational distribution of profits to workers and / or shareholders in the local economy. • They aim for social equality and equal locus standi. • The cooperative system is capable of ensuring the social welfare of all citizens in the local economy. Proutist Universal

  21. Proto-spiritual outlook • To achieve social parity and implement the principle of social equality requires a broad outlook and universal view. • This is the proto-spiritual mentality. • In this way limiting geo-sentiments and socio-sentiments can be easily surmounted. • The movement is toward neo-humanism - respect for all humans, animals & plants and their worlds. • A Gaian nature-friendly ethic and practice. Proutist Universal

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