It really boils down tothis: that all life is interrelated.
We are all caught in an inescapablenetwork of mutuality, tied into a single garment of destiny. Whatever affectsone destiny, affects all indirectly. —Dr. Martin Luther King, Jr.
(1967) JOURNAL1 – Business, Society & Environment Crisis,a word overly used in the business and economic contexts when markets crash andeconomic downturn looms. However, when citing Environmental and Ecologicalissues, the concerns are downplayed or ignored in both our daily lives andeveryday business. The World is faced with challenges in all three dimensionsof sustainable development—economic, social and environmental. To confront the challenges onsustainable development, we initially need to address issues impeding thesuccess to overcome hurdles. For that, we can swing to the term ‘Triple BottomLine’ which was presented by John Elkington. As the author of a Britishconsultancy called SustainAbility, he considered the relevance of intangibleelements that colossally affect society and attempted to measure them.
Heargued that organizations, so as to paint the true picture of their performanceand results, should come up with three bottom lines. The first is thetraditional measure of corporate monetary earning – famously known as ‘thebottom line’ of the Profit and Loss (P&L) account. The second bottom lineshould outline an organisation’s ‘people account’ – a measure to portray theextent of the social responsibility of an organisation. The third bottom lineportrays the organization’s ‘planet account’– a measure of how environmentallymindful an organisation is.
The triple bottom line (TBL) ought to therefore bemade of three Ps: Profit, People and Planet, with the point of measuring thefinancial, social and environmental performance of an organisation over a giventimeframe.PLANETScientists in Germany, for instance, recently reported thatflying insect populations in about 63 protected nature zones had declined by 75percent in the course of recent decades, with no conspicuous reason in climateor different conditions. In the event that, as biologists expect, this reflectschanges in the insect populations all the more comprehensively, at that pointan extensive part of the biosphere on which we depend could be collapsingbefore our eyes. Although the cause isn’t certain, it seems prone to be a blendof widespread use of pesticide and loss of wild regions. One biologisttranslated the finding as proof we’re “on the way to environmentalArmageddon.” Arguably, this isn’t exaggeration, as around 80 percent ofwild plants rely upon insects for pollination, and 60 percent of birds dependon the insects for food. (Buchanan, 2017) PEOPLEMore than 1 billion people arestill living in extreme poverty, and wage disparity inside and within nationshas been rising; in the meantime, unsustainable consumption and productiondesigns have brought about huge economic and social expenses and may endangerlife on the planet.
Accomplishing sustainable improvement will require globalactions to deliver on the real desire towards further economic and socialprogress, requiring development and employment, and in the meantime reinforcingenvironmental protection. (publication, 2013)At this moment, exactly 800million men, ladies and kids are scraping by on under $1.25 a day. Imaginethat. Being gripped by the pain of an empty stomach. Billions of our fellowpeople are in danger of dying from infections that we know how to prevent.Numerous children are only one mosquito bite away from death. That is anethical shock! It is profound and shameful.
It is truly a life and deathmatter, an important issue, and now the world must act. We can’t desert thispeople. (Press,2015)PROFITProsperity isunderstood as a successful, prospering or flourishing condition or just, astate in which things are going great for us. These are the two fundamentalmeasurements for the form of capitalism on which most nations base theireconomies today. “The idea of a non-growingeconomy may be an anathema to an economist. But the idea of a continuallygrowing economy is an anathema to an ecologist.” (Tim Jackson, 2009) The triple bottom line has moved toward becoming usualmethodology for organizations large and small that need to accomplish more thanmaking the biggest conceivable profits.
Rather, building ways to benefit thegeneral population in their community and the planet in total has turned intothe recognized path for organizations to become good citizens. This in the1960s came to known as corporate social responsibility. The principles ofcorporate social responsibility are also wide-ranging and can include theoverarching company mission down to encouraging employees to volunteer theirtime, However, in no way, shape or form, the considerations a corporatesocially responsible business needs to consider concerning the nature. Inpresent day, the environment, business should adjust and adjust their benefitintention with commitments to the earth and society. People and Planet are toppriority in the Profit evaluation for business. Business needs to understandthat the benefits are achievable in conjunction with saving the planet andethically serving the People.
..One such example of Corporate Social Responsibility has longbeen Ben and Jerry’s Ice Cream and its sale to multinational company, Unilever.The company declared the sale in 2000 to theenormous Dutch organization for $326 million. Cohen and Greenfield tiedconditions to the deal to reduce the impact on the organization and Vermontcommunity where the organization’s main processing plant was. Both foundingpartners remained with the organization to undertake responsibility for its”social mission and brand integrity,” according to a Wall StreetJournal about the deal. Terms of the deal included prerequisites theorganization would keep on buying milk from Vermont dairy farmers at abovemarket costs and give 7.
5% Of its pre-tax benefits to charity and give $5million to a private equity firm established by Cohen to profit low-wagecommunities. (Shelly Branch, 2000)To sum it up, it is obvious that in a crisis, the two potential outcomesmust be carefully sooner or later end up incompatible with both the upkeepof the earth and the quality of life. By the year 2030, for instance, it isanticipated that there will be 3 billion more people on Earth than today.
Thetask of feeding, clothing and sheltering them will be huge, couple that witheducation, employment, security and at least a minimal well-being andsatisfaction. These facts of life that apply to everyone must not bedisregarded. In any case, neither should the capacity of humanity to discoverand create solutions be ignored or limited. (Abbasi,2017)