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Showing posts from March, 2010

Triple Bottomline Reporting

The triple bottom line (abbreviated as "TBL" or "3BL", and also known as "people, planet, profit" or "the three pillars" captures an expanded spectrum of values and criteria for measuring organizational (and societal) success : economic, ecological and social. With the ratification of the United Nations and ICLEI TBL standard for urban and community accounting in early 2007, this became the dominant approach to public sector full cost accounting . Similar UN standards apply to natural capital and human capital measurement to assist in measurements required by TBL, e.g. the ecoBudget standard for reporting ecological footprint. Triple bottom line reporting makes companies accountable for economic, social and environmental effects of doing business. This is a popular form of accounting for nonprofit companies and government organizations to show a commitment to corporate social responsibilities. For these companies, social and ecological per