Triple bottom line definition
Triple bottom line means an approach to sustainability whereby environmental health and integrity, social equity and cultural well-being, and economic prosperity and fiscal responsibility are integrated into decision making in a way that produces equitable solutions and mitigates undesirable trade-offs.
Triple bottom line means the economic, environmental,
Triple bottom line means the economic, environmental, and social benefits arising from a project, investment, or community and economic development activity.
More Definitions of Triple bottom line
Triple bottom line means an accounting framework with three parts: social, environmental (or ecological) and financial.
Triple bottom line. ’ accounting means expanding the traditional reporting framework to take into account environmental and social performance in addition to economic performance.
Triple bottom line means that rather than having one bottom line (profit), the company should have three bottom lines (profit, people and planet).
Triple bottom line means a decision-making, planning and reporting framework that has emerged as an important tool for achieving sustainable development. It is a framework for evaluating an organization's performance based on three pillars of sustainability - economic, social, and environmental.
Triple bottom line means the accounting system which expands the traditional reporting framework to take into account social and environmental performance in addition to financial or economic performance.
Triple bottom line approach means that environmental and social factors must be considered, along with economic factors, throughout the decision- making process. This represents a major progression from earlier ad hoc approaches where environment and sustainability issues may have been considered to some degree but are outweighed, or disregarded, in the final decision processes by other imperatives. While all decision-making requires application of judgement and an exercise of discretion, a structured triple bottom line approach ensures that environmental, social and economic factors are all part of the process.
Triple bottom line means including social, ecological and economic values and criteria when assessing alternative development paths.