Triple Bottom Line Approach to Environmental Protection
The IUP Law Review, Vol. VI, No. 2, April 2016, pp. 54-68
Posted: 25 Oct 2016
Date Written: October 24, 2016
Abstract
The concept of Triple Bottom Line (TBL) is gaining significance and becoming popular amongst corporates. This concept was coined in 1994 by John Ellington, noted management consultant, who had stated that the concept of TBL is established on the fact that business entities have more to do than make profits. There are three parameters in TBL to estimate business performance, i.e., economic, environmental and social factors. People, planet and profit are used to compactly explain the TBLs. While profitability is a pure economic bottom line, environmental and social bottom lines are semi or non-economic as far as revenue generation is concerned. But it has an equal weightage due to its positive impact on long-term goodwill that an enterprise commands. This paper analyzes the different provisions available to protect the environment under the TBL.
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