sustainability

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  • Created by: ellis1410
  • Created on: 03-05-15 12:50

Triple Bottom Line

DEFINTION 

  • Describes a theory of sustainable development
  • Developed by John Elkington in 1990

Suggests:

  • True sustainable development in business must consider not just the financial 'bottom line' of profit, but also other 'bottom lines' such as environmental quality and social equity

Companies should:

  • Not just look at the 'financial bottom line' of profit
  •  'Triple-Bottom-Line' of PEOPLE, PLANET AND PROFIT
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Triple Bottom Line

PEOPLE

Referes to:

  • Fair and beneficial business practices toward:
    • labor and the community 
    • region in which a corporation conducts its business

Triple Bottom Line Organisation will:

  • Act in a way that benefits communities
  • Not use child labor and monitor all contracted companies for child labor exploitation
  • would pay fair salaries to its workers
  • maintain a safe work environment and tolerable working hours
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Triple Bottom Line

PLANET

Referes to:

  • Sustainable environmental practices

Triple Bottom Line Organisation will:

  • Minimise environmental impact
  • Endeavor to reduce its ecological footprint by:
    •  Carefully managing energy consumption and non renewables
    • Reducing waste
    • Render waste less toxic before disposing of it in a safe and legal manner
  • Consider 'Cradle to Grave'
    • through conducting life cycle assessments
    • to determine what the true environmental cost is from  harvesting of raw materials to manufacture to distribution to eventual disposal by the end user. 
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PROFIT

Referes to:

  • Profit is economic value created by the organization after deducting the cost of all inputs. 
  • The real economic impact the organization has on its economic environment (often confused with internal profit made)

Triple Bottom Line Organisation will:

  • Consider the   lasting economic impact the organisation has on its economic environment in relation to the building project
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RELATING TBL TO CONSTRCUTION INDUSTRY

  • People- looking after all stakeholders in relation to a project from those living in the local community to the client who is funding the building, examples of this would be to provide local labor. Fair and beneficial practices towards labour and the community/region in which a company/organisation does its business
  • Planet- All resources, construction process’ and the final building are designed in such a way that they will minimize the adverse effects given from buildings to the environment and where ever possible actually seek out to enhance the local natural  and global environment
  •  Profit- The lasting economic impact the organisation has on its economic environment in relation to the building project.
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WHY COMPANIES ARE INCORPORATINF TBL INTO THEIR WEBSITES & BUSINESS PRCEDURES

  • Companies now are facing a spectrum of stakeholders who are concerned about the environment.
    • In addition puts pressure on the company itself

By displaying an adaoption of triple bottom line on their websites shows a company is:

  • Is driving forward to look after not only the environment but the people who are involved with the project as well

 

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WHY COMPANIES ARE INCORPORATINF TBL INTO THEIR WEBSITES & BUSINESS PRCEDURES

  • Promote the company to the Client
    • Adoption of triple bottom line shows that a business cares about its employee’s which often results in a better end product.
    • shows the company has a greater chance of being more financially stable as the triple bottom line incorporates the company’s profit
    • Shows the company will build in a way that enhances the environment.
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WHY COMPANIES ARE INCORPORATINF TBL INTO THEIR WEBSITES & BUSINESS PRCEDURES

Companies are also incorporating triple bottom lines policies into their business procedures for the following reasons:

  •  As triple bottom line focuses in part on profit and that is (for the most part) why companies exist adopting profit into a business procedures is high on the importance and function of a company and should aid in ensuring a company is more profitable.
  •  As triple bottom line is to do with the environmental aspects policies are taken on board and looking after the environment often leads to lower running costs of a building, lower maintenance costs of a building and a promotion of the building and company to its clients.
  •  Triple bottom line is also beneficial to be brought into the company’s policies as banks are now seeing business’ that adopt triple bottom line to be more stable and they are more likely to lend money out to these which can often mean the difference between liquidation and a business thriving
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6 PROSALS FOR A COMPANY TO DEMONSTRATE COMMITMENT TO TBL

PEOPLE

Considerate constructor’s scheme

  • Monitors construction companies in regards to:
    • How they treat their staff. This shows a commitment to “people”. A minimum score can be set to be achieved which shows the level of commitment of a company.

Employing Local Labour

  • Employing a certain percentage of local labour on sites
  • benefits local community
  • percentages are fairly low, which keeps companies regular staff employed, as it does not demand a particular high rate of only local labor. But does provide enough to ensure a company will have to actively seek additional employees local to the site.
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6 PROPOSALS FOR A COMPANY TO DEMONSTRATE COMMITMENT TO TBL

PLANET

  • A sustainable timber policy will aid the planet
  • Procuring timber to meet certain criteria within the policy:
    • All timbers, MDF, ply and timber based products must be obtained from a certified source and be supports by one or more of the following schemes: FSC, PEFC, MICC, SFI or CSA.
    • Each delivery must be clearly documented with full chain of custody and your company must be the holder of a current chain of custody certificate applicable to the items or products ordered
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6 PROPOSALS FOR A COMPANY TO DEMONSTRATE COMMITMENT TO TBL

 PROFIT

  • Helping the supply chain through shorter payment periods
    • Will reduce the risk of sub contractor going bust
  • Sustainable Design
    • Natural ventialtion mathods will give increased space in building not taken up by plant. PR opportunity. Reduced energy costs for end user
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