What is the Triple Bottom Line?
Traditionally, the term ‘bottom line’ referred to profit. Simply put, businesses prioritised their bottom line a critical aspect of decision making.
The Triple Bottom Line is a sustainability framework that builds on this concept and recognises that while it is important to measure economic outcomes, it is equally as important to measure social and environmental elements when accounting for the true cost of something.
The bottom line of Economic Sustainability requires measuring the impacts and advantages for the local economic environment and facilitating opportunities for responsible, sustainable growth. Including, but not limited to:
- up front and ongoing costs
- risks and liability
- long term financial planning
- supporting local economy
The bottom line of Social Sustainability requires consideration of social impacts and advantages for the local community and facilitating opportunities for responsible, sustainable growth. Including, but not limited to:
- access and equity
- culture and heritage
- provision of community facilities and recreation
- built environment
- affordable housing and living
- public health and safety
- modern slavery
- support services
Controlling our environmental bottom line requires managing, monitoring and reporting our emissions, consumption and waste. Including but not limited to:
- air quality
- climate change
What can I do?
- Review the 2019-2027 Singleton Sustainability Strategy
- Consider the Waste Hierarchy and be committed to prioritising your waste (and purchasing) in accordance to the structure
- Know what the Sustainable Development Goals (SDGs) are and why they are so important (Paris Agreement)
- Become knowledgeable about what resources and opportunities are available to you in your local area and actively participate in what you can – there is something for everyone!