Sustainability: The "Triple Bottom Line"
You may have a "green team" and may have implemented environmentally sensitive practices in your business. But do you know how these practices impact the Triple Bottom Line-the Social, Environmental and Economic aspects of your business?
First, some definitions:
“Sustainable development is a development that meets the needs of the present without compromising the ability of future generations to meet their own needs” -1987 Brundtland Commission
"[sustainability]…requires the reconciliation of environmental, social and economic demands - the "three pillars" of sustainability"-2005 World Summit
Today, many recognize the Three Pillars of Sustainability (Social, Environmental and Economic) as "People, Planet and Profit". A truly sustainable organization integrates these three concepts into all of their business practices, commonly known as Corporate Social Responsibility.
Why is Sustainability Important to my organization?
We measure and manage every business process-finance, manufacturing, distribution, supply chain, sales and marketing, human resources, logistics-you name it, we have a way to measure the performance of these operations and implement strategies to improve them.
Your waste steam is no different. In fact, it is a by-product of just about everything you do. Measuring, managing, and increasing the performance of your waste stream and energy utilization is an integral part of operational effectiveness.
What does Sustainability do for my business?
Increase the bottom line-reduce costs and put the savings back into growing your business
Increase operational efficiency
Optimum Energy Utilization (OEU)
Increase the top line-better margins and increased profitability
Turn waste liabilities into marketable assets
Company Brand: Company image isn’t limited to products, services, or people. Our investors, partners and customers all evaluate our corporate culture when they consider doing business with us. Sustainability is an attractive corporate asset. In fact, most stakeholders-including partners, vendors, investors and clients-are demanding it.
Corporate Social Responsibility: we are all stewards of our environment. As a business, our waste streams are much larger than each of us as individuals. We have a responsibility to minimize our impact on the environment for us and future generations.