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Benefits to the Triple Bottom Line Shauna Sylvester

Benefits to the Triple Bottom Line Shauna Sylvester. September 2005. The Triple Bottom Line.

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Benefits to the Triple Bottom Line Shauna Sylvester

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  1. Benefits to the Triple Bottom Line Shauna Sylvester September 2005

  2. The Triple Bottom Line The phrase was coined in the mid- 1990s by a management consulting firm called AccountAbility and later popularized by John Elkington, in his 1997 book entitled Cannibals with Forks: The Triple Bottom Line of 21st Century Business.

  3. Definition of Triple Bottom Line • captures the spectrum of values that organizations should embrace - economic, environmental and social. • Expands the traditional company reporting framework to take into account not just financial outcomes but also environmental and social performance.

  4. What are the Benefits of Incorporating a Triple Bottom Line Perspective into the way your business or organization operates?

  5. List of Benefits • Mission Alignment • Operating efficiencies (e.g. aggregates reporting functions) • Decrease in some costs (e.g. hydro, electricity, paper)

  6. List of Benefits • Recognition as a good corporate citizen • Enhanced brand or public reputation • Increased sales and customer loyalty • Increased ability to attract and retain employees

  7. What do the critics of a Triple Bottom Line approach say?

  8. Critics say • The the ideas behind social and environmental reporting are too vague • Companies responsibilities are maximizing shareholder value • A triple bottom line approach is not novel – companies have been doing it for years • No-one has defined what a social bottom line is For further information see: Wayne Norman, Chris MacDonald “Getting to the Bottom of the Triple Bottom Line” in Press Business Ethics Quarterly, March 2003

  9. Tools for Incorporating a Triple Bottom Line Approach • Mission • Statement of values • Leadership • Employment Programs

  10. Tools • Policies and Procedures • Ethical screens • Environmental policies and management systems • Procurement Policies • Personnel Policies • Fundraising Policies

  11. Tools • Investments • Corporate giving • Development of innovative products • Social and Environmental Auditing

  12. What three things can you do to bring a Triple Bottom Line approach to your business or non-profit organization?

  13. Benefits to the Triple Bottom Lines Shauna Sylvester September 2005

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