Triple Bottom Line Framework

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Triple Bottom Line Framework

First, introduce yourself to the class. Include your major and anything you would like to share about yourself.  Then address the prompt below.

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, introduce yourself and then 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?
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