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
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