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The Hagerman Group offers construction management, general contracting, design-build, owner’s representative, self-perform, as well as site selection and economic development incentive negation services. This fourth generation, family owned company, was founded in 1908 with Indiana offices located in Fort Wayne and Fishers.

Thursday, April 26, 2012

Defining Sustainability: Triple Bottom Line

Too often I hear companies making the statement that “being green is too expensive.”  Well of course it is too expensive when you take the stance that in order for a corporation to be “sustainable,” it must focus solely on conserving natural resources regardless of costs.  Let’s take a look at a different approach for defining sustainability:  The Triple Bottom Line. 
                                            
Sometimes referred to as TBL, 3BL, The Three Pillars, or The Three Ps (People, Profit, Planet), it all boils down to the same basic concept:  success should be measured using economic, ecological, and societal criteria rather than profit alone.  Therefore, a sustainable business is one that operates at the intersection of Economic Growth, Social Equity, and Environmental Stewardship.

The Triple Bottom Line is a powerful business philosophy.  A corporation that is sustainable by this definition enjoys profits while improving the lives of the people it is connected to and protecting the environment.   With this kind of forward-thinking, a sustainable business is set up for long term success.    

For a wonderfully detailed explanation of TBL that describes the ‘Who, What, When, Where, Why, and How’, read The Triple Bottom Line: What Is It and How Does It Work?, an Indiana Business Review article.     

Sustainability Coordinator, Karen Schutte, and I use this approach to work toward THG’s sustainability goals; we believe that it aligns with our core values of profitability, client focus, safety, innovation, and embrace change as well as our corporate citizenship strategy. 

Laura Bailey
Sustainability Director | Estimator