As we have to choose a triple sustainability company to our final project I decided to talk about this topic.
Sustainability is to manage today’s resources in the most efficient way without involving tomorrow’s resources. When we talk about triple sustainability we are talking about social, economical and environmental aspects.
Social/people: pertains to fair and beneficial business practices toward labor and the community and region in which a corporation conducts its business.
Environmental/planet: refers to sustainable environmental practices. An environmental company endeavors to benefit the natural order as much as possible or at the least do no harm and minimize environmental impact.
Economical/Profit: is the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital tied up. It therefore differs from traditional accounting definitions of profit. In the original concept, within a sustainability framework, the “profit” aspect needs to be seen as the real economic benefit enjoyed by the host society. It is the real economic impact the organization has on its economic environment.
So, today many companies are seeking triple sustainability because this not only helps our environment and society, they also help the company to have a better reputation and with that greater benefit.