In this video, we will try to understand
1. Three Pillars of Sustainability ( शाश्वतता/सतत विकास के 3 स्तंभ)&
2. Concept of Triple bottom line
0:00 Introduction
0:34 Example of Pot maker Bhargav's Business
5:21 UNGA-2005, World Summit Outcome
8:48 Triple Bottom Line
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We now know that there are 3 pillars on which the concept of sustainability is rested, i.e., Social, environmental and economic.
But are these three mutually exclusive? NO. They are all equally important and essential on their own.
Let’s understand this with one example,
Suppose there is one hard working talented potter named Bhargav, who makes earthen clay pots. Having come from poor means, he makes and sales the earthen pots, and on that income his livelihood is based.
For one pot, he requires cost of Rs. 200/- let’s say, for clay, water, baking, storage, etc.
But he is not getting good returns on them, His Selling Price is Rs. 210/-. Only Rs. 10/- in one pot,
Do you think this business of pot making will provide him livelihood option for a long time?
Damage to economic element, will reflect in social and environmental elements as well. And the same is true for social and environmental elements as well.
Triple Bottom Line
In 1994, author and Sustainability expert, John Elkington, coined the term Triple Bottom LINE / also called TBL/ 3BL.
TBL looks at above three essential elements: 3Ps -People, Planet & Profit
People- representing social element - it’s about socially responsible operation.
Planet- representing Ecological element- it’s about environmental conservation & preservation
Profit- representing Economic element - it’s about company’s profit & loss.
#sustainability #triplebottomline #3pillarsofsustainability
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Reference and Source:
1. 60/1. 2005 World Summit Outcome, Resolution adopted by the General Assembly on 16 September 2005
2. HBR article: 25 Years Ago I Coined the Phrase “Triple Bottom Line.” Here’s Why It’s Time to Rethink It by John Elkington
hbr.org/2018/06/25-years-ago-...
3. Potters wheel -Image by JamesDeMers from Pixabay
4. Ceramic pot- Image by pamelasichel from Pixabay
5. Cut tree- Image by Pixaline from Pixabay
6. Tree heap- Image by Albrecht Fietz from Pixabay
7. Rupee- Image by Prasanta Sahoo from Pixabay