What is the concept behind triple bottom line (TBL) reporting?

The concept behind triple bottom line (TBL) reporting encompasses a comprehensive framework that evaluates a company's commitment not only to economic performance but also to social and environmental responsibilities. The rationale of TBL is rooted in the idea that businesses can no longer prioritize profit alone and must recognize their impact on society and the environment.

By contributing to the understanding:

• Focusing as much on social and environmental issues as profits reflects the essence of TBL reporting, which emphasizes a balanced approach to business operations rather than a singular focus on financial gain. This aligns with the growing expectations from stakeholders for companies to demonstrate social responsibility.

• The framework is built on three critical pillars: profit, people, and the planet. This terminology clearly encapsulates the key elements that TBL addresses—financial success, social equity, and environmental stewardship. Each of these elements must be considered for a business to achieve sustainable development and long-term success.

• Tracking and measuring financial, social, and environmental performance over time allows companies to evaluate their impact and make informed decisions. This ongoing assessment promotes accountability and transparency, enabling firms to refine their strategies for better outcomes across all three areas.

By addressing these dimensions, TBL reporting serves as a roadmap for organizations striving for sustainability and long-term viability, advocating for