Sustainability and Triple Bottom Line Reporting

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Today’s world is extremely complex in the sense that it is constantly changing. Not only is the world itself changing, but societies and the environment are consistently growing and developing. This constant fluctuation between these two categories is affecting all types of organizations, especially businesses. Due to the constant changes in today’s world, shareholders and stakeholders expect information about the financial, operational and investing activities of a business. Businesses are either flourishing or failing, but all the businesses that are most successful do not only owe their success to the products or services that they provide but also dedicate a portion of that success towards their understanding of the world around them. Every organization is concerned with the success of their business but the prospering businesses handle the day to day operations very sufficiently and focus on the longevity of the organization. The successful business understands the concept of sustainability and sustainable development. Due to the competition in the various markets, businesses must not only be concerned with well-being of the organization but are encouraged to look at their business from the entire perspective in order to see their impact on the world around them.

Sustainability is being considered by an increasing number of businesses due to the increase in environmental awareness, which is the concern for the conservation and improvement of the environment. By definition, sustainability “is a business strategy that drives long-term corporate growth and profitability by mandating the inclusion of environmental and social issues in the business model.” (DWDG). Not to be confused with corporate social responsibility, which ...

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...ness School Working Paper. 12-018. 22
September 2011. Web. 14 November 2011
DWDG "Do Well Do Good, LLC." Do Well Do Good, LLC. N.p., n.d. Web. 22 Nov. 2013
WCED “Our Common Future, Chapter 2: Towards Sustainable Development - A/42/427 Annex, Chapter
2 - UN Documents: Gathering a Body of Global Agreements." Our Common Future, Chapter 2: Towards Sustainable Development - A/42/427 Annex, Chapter 2 - UN Documents: Gathering a Body of Global Agreements. N.p., n.d. Web. 21 Nov. 2013.
(APD) “Africa Product Development” N.p., n.d. Web. 22 Nov. 2013.

John Elkington, "Towards the Sustainable Corporation: Win-Win-Win Business Strategies for Sustainable
Development," California Management Review 36, no. 2 (1994): 90–100.
TBL "The Triple Bottom Line: What Is It and How Does It Work?" The Triple Bottom Line: What Is It and
How Does It Work? N.p., n.d. Web. 21 Nov. 2013.

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