“The Triple Bottom Line”
The “People, Planet, Profit” framework, also known as the “Triple Bottom Line,” is a sustainability concept that considers three key dimensions in decision-making and business operations:
People
This dimension focuses on social responsibility and the well-being of individuals and communities. It encompasses factors like employee welfare, diversity and inclusion, labor practices, and the overall impact of business activities on society.
Planet
This dimension emphasizes environmental sustainability and the impact of business operations on the natural world. It includes considerations such as reducing carbon emissions, conserving resources, minimizing pollution, and adopting eco-friendly practices.
Profit
This dimension represents the traditional economic aspect of business, where profitability is essential for the long-term survival and growth of a company. It involves generating revenue, managing costs, and ensuring financial viability.
The “People, Planet, Profit” framework encourages organizations to evaluate their performance and success not only in terms of financial profitability but also in how they contribute to the well-being of people and the preservation of the planet. It reflects a broader and more holistic approach to business that takes into account social and environmental impacts alongside economic outcomes.