Triple Bottom Line

The triple bottom line refers to the three key pillars of sustainability, namely, the economy, the environment, and the society. While bottom line was originally used as an accounting term to measure a firm’s success, it is now a common term that relates to gauging the effects of policy, industry, and businesses on growth objectives. The goal is to measure the impacts of development as related to quality of life in a way that incorporates full-cost accounting (the cost to the economy, the environment, and the society). The economic and social components embrace the human elements, [Page 1360]whereas the environment emphasizes the conservation of resources for future generations. Sustainable development requires a holistic approach where development and ecosystem management are global challenges and the emphasis ...