The Components Of A Triple Bottom Line

991 WordsSep 25, 20154 Pages
1) A. The most frequently quoted definition of Sustainable Development states the following, “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. B. The quote is cited from Our Common Future, which is also widely known as the Brundtland Report. C. Within sustainable development are two key concepts: 1 Needs: High priority should be given in particular to the essential needs of the world’s poor. We cannot neglect the poor or the needy 2 Limitations: The idea that is compelled by the ever-growing technology and social organizations on the environment’s capacity to meet both our present and future needs. Resource exploitation to meet present needs is not a sustainable solution 2) (https://en.wikipedia.org/wiki/Triple_bottom_line ) A. The three components of ‘Triple Bottom Line’ are as follows: 1. People: Pertains to be fair i.e. seeking to provide benefit to many constituencies and not to exploit or endanger any group or community. In other words, think also of social well-being along with personal gains 2. Planet: Minimize ecological footprints by, carefully managing consumption of energy and non-renewables while reducing manufacturing waste as well as rendering less toxic waste back into the environment through proper disposal. In other words, managing natural resources efficiently for both the present and future needs 3. Profit: Real economic benefit enjoyed by
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