The Triple Bottom Line
The ‘Triple Bottom Line’ was first described in 1994 by John Elkington, a sustainability consultant, (The Economist
) 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. 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 Ethical Property, 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 usual financial indicators of success, we also use measures of our environmental and social impact to report to our shareholders in our annual report. We are increasingly using such measures in our day-to-day decision-making as well, for example when reviewing a particular building’s performance over the year or weighing up the pros and cons of a new 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.
We try to ensure that overall we give equal weight 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