Sustainability and Triple Bottom Line Reporting Essay

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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…show more content…
Developing sustainability along with measuring and reporting it can be quite difficult. As previously stated sustainability does not deal with the past but instead focuses on the future. An organization that desires sustainability must take proper action and have an understanding of what is needed in order to require it. Reaching true sustainability requires input from internal and external sources, social progress that takes into account the needs of all people, protecting the natural environment, using natural resources carefully and efficiently, and increasing the level of economic growth and employment within the organization (APD). These requirements build the foundation for any organization seeking sustainability and will lead to more success in the longevity. The key concept behind measuring and reporting sustainability is triple bottom line. In the mid 1900’s, John Elkington wanted to measure sustainability with a different kind of framework, to measure the performance of businesses in the United States, called Triple Bottom Line (John Elkington). “Triple bottom line is an accounting framework that incorporates three dimensions of performance: social, environmental and financial. This differs from traditional reporting frameworks as it includes ecological (or environmental) and social measures that

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