DAY SIX – SUSTAINABILITY AND THE TRIPLE BOTTOM LINE
6 | SUSTAINABILITY AND THE TRIPLE BOTTOM LINE
It’s a dominant theme within the business world and an essential ingredient to success…but how many businesses are fully dedicated to managing sustainability in today’s economic climate?
Growing emphasis on the importance of responsible, transparent and sustainable business practise has made it almost impossible for businesses to neglect the wider picture of corporate responsibility. The triple bottom line (TBL), more commonly referred to as ‘People, Planet, Profit’ has shifted attitudes towards a more rounded reporting system, focusing on the risks, opportunities and obligations of social and environmental factors as well as financials.
Public perception, brand awareness, and employee attitudes have a greater impact on businesses today than ever before. From tax avoidance headlines implicating Google, Apple, Amazon and other leading global brands to the UK horse meat scandal that rocked the FMCG industry, responsible practise is under scrutiny, and not just from the wider community.
On a daily basis we are given insight into the driving factors motivating individuals to make the change within companies, it’s a huge decision to take a new step and individuals have more to consider today than ever before. It isn’t just about financials; it’s a closer fit than that. Individuals are looking for transparency & commitment, they are looking for companies that are dedicated to sustainable practise and environments that drive excitement, possibility and change. It’s not about being cut throat as a business, it’s about the bigger picture and it’s the businesses that are internally committed that will win the top talent, survive shocks and stand the test of time.
The Benefits of Managing Your Business TBL:
- Build & manage positive brand awareness
- Benefit from the ability to be transparent with your business attitudes
- Create greater internal balance
- Engage more meaningfully internally & externally
- Involve and engage employees, customers, community
- Drive possibility and change
- Bring about an opportunity to re-engage audiences
- Positively impact your local communities
- Positively impact the wider environment
- Attract and retain top talent
- Strengthen your business against inevitable economic shocks
– How important is sustainability within your business?
– How do you manage your triple bottom line?
– How important is it to create a business that people are proud to be a part of?