Triple Bottom Line Approach

light-green companies save m cardinaly and help the orbiter with a manifold bottom nervous strain flak Conventional wisdom says that organizations essential choose between economic prosperity or environmental protection. Many business, however, are discovering that this is an bring out(a)dated myth and there is no need to choose between one or the other. Energy efficiency projects that turn out utility costs, recycling initiatives that minimize photocopy disposal fees, and elimination of wasteful practices that clear auteur resources are all win-win scenarios that save cash and reduce the impact on the planet at the same time.When these initiatives are carried out in a fair and ripe manner towards employees or contractors, then a win-win-win scenario is achieved. This approach of increasing profitability and up(a) the environment, while serving the community comfortably through fair employment practices, is cognize as the triple bottom furrow and is the core compo nent for sustainability programs, sometimes referred to as corporate social responsibility (CARS). The benefits of a triple bottom line approach to business are numerous.Many companies find that looking at their operations through a sustainability lens helps them identify opportunities that they were previously incognizant of. Cost savings opportunities are set that help drive waste out of organizations, reducing their environmental Impact. The benefits go beyond the obvious financial and environmental gains, however. Sustainability programs give companies an opportunity to distinguish themselves from their competitors.Studies show that employees inadequacy to work for socially responsible companies, so an effective sustainability program will attending In the recruiting of new hires. Proactively reducing destructive environmental practices can also potentially reduce liability and can support organizations one step ahead of succeeding(a) regulatory changes that may restrict, or yet outright ban, practices that are currently allowed. time to come columns will provide many real-world examples of triple bottom line Initiatives that any phoner can Implement.