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The proliferation of frameworks and their acronyms often complicates the issues associated with implementing a TBL framework for evaluating economic development initiatives. Is the people category more important than the planet. By focusing on comprehensive investment results—that is, with respect to performance along the interrelated dimensions of profits, people and the planet—triple bottom line reporting can be an important tool to support sustainability goals. Cobb, For the Common Good. For local or community-based projects, the TBL measures of success are best determined locally.

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Zen And The Triple Bottom Line

There is no universal standard method for calculating the TBL. A case or project specific TBL would measure the effects of a particular project in a specific location, such as a community building a park. The concept of the triple bottom line can be used regionally by communities to encourage economic development growth in a sustainable manner. Having discussed the difficulties with calculating the TBL, we turn our attention to potential metrics for inclusion in a TBL calculation. In this way, one eliminates the incompatible units issue and, as long as there is a universally accepted accounting method, allows for comparisons between entities, e. What about the sub-components within each "P".

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Sustainability and triple bottom line

Profits are measured in dollars. Many are appropriate for a community to use when constructing a TBL. In this way, one eliminates the incompatible units issue and, as long as there is a universally accepted accounting method, allows for comparisons between entities, e. Integrated assessment is used as a general rubric for all sustainability assessment frameworks, including TBL. This requires an increased level of cooperation among businesses, nonprofit organizations, governments and citizens of the region. Do they each get equal weighting. The TBL and its core value of sustainability have become compelling in the business world due to accumulating anecdotal evidence of greater long-term profitability.

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Description: The TBL user may get metric fatigue. The State of Maryland, for example, uses a blended GPI-TBL framework to compare initiatives—for example, investing in clean energy—against the baseline of "doing nothing" or against other policy options. The concept of the triple bottom line can be used regionally by communities to encourage economic development growth in a sustainable manner. Profits are measured in dollars. Cobb, For the Common Good. Those variables are converted into monetary units and summed into a single, dollar-denominated measure. That said, the set of measures will ultimately be determined by stakeholders and subject matter experts and the ability to collect the necessary data. Social variables refer to social dimensions of a community or region and could include measurements of education, equity and access to social resources, health and well-being, quality of life, and social capital. The Ford Foundation has funded studies that used variations of the TBL to measure the effects of programs to increase wealth in dozens of rural regions across the United States.
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