The ‘Triple Bottom Line’ was first described in The Economist in 1994 by John Elkington, a sustainability consultant, and encapsulates the idea that a business’s success should be assessed not only in terms of its financial profitability but also its impact on society and the environment (People, Planet, Profit). Since then a range of businesses have adopted the approach, from mainstream companies wanting to improve their corporate image and cut costs to social enterprises motivated primarily by non-financial goals.
For us, running our business on a Triple Bottom Line basis has always been a natural way of putting our values into practice. This means that as well as the using traditional financial performance indicators, we also measure our environmental and social impact and report on both each year.
In addition, we increasingly use these measures in our day-to-day decision-making, whether reviewing an existing Centre’s Environmental Performance or weighing up the viability of a new project venture. Many of the indicators we use are set out in our Quintessentials, which all members of The Ethical Property Family are committed to following.
Ultimately, we try to ensure that we give equal priority to all three elements of the Triple Bottom Line, whilst bearing in mind that without a sound financial model the Company could not exist at all.
More information about commitment to the Triple Bottom Line can be found in our Annual Reports.