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Video: Triple Bottom Line Reporting
I gave a brief interview to David of Vator TV on triple bottom line reporting.
People. Planet. Profits. We all understand the last item. But socially-conscious entrepreneurs, like Mike Paunovich of LocalBizBlogs.com, give equal consideration to the environmental and human impact of their enterprises. This is triple bottom line (TBL) reporting.
Triple bottom line reporting is a framework for socially responsible companies to measure and report on their impacts on society as a whole, beyond the profit line.
Paunovich says that while it's easy to quantify the "profit" line, it's much harder to do so with the environmental and social impacts of a business. No standardized practices exist for quantifying these additional bottom lines, allowing for a lot of subjectivity among organizations that claim TBL adherence. But at the same time, this presents an opportunity for social entrepreneurs to band together to find a solution for TBL reporting best accepted practices.
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