Triple Bottom Line Accounting

Triple Bottom Line Accounting is a framework that evaluates a company's impact in three key areas: people, planet, and profit. Instead of solely focusing on financial gain, it assesses social responsibility (how the business affects communities), environmental sustainability (its ecological footprint), and economic viability (its financial performance). This approach encourages businesses to be accountable not just to shareholders but also to stakeholders, fostering a balance between economic success and positive contributions to society and the environment. By using Triple Bottom Line Accounting, companies can make more informed and responsible decisions that benefit all aspects of their operations.