"Triple Bottom Line is an approach that has transcended the academic paradigm and percolated well into the business practices." Discuss the utility of the approach with some instances in real corporate world.

Within the broader concept of corporate social responsibility, the concept of Triple Bottom Line (TBL) is gaining significance and becoming popular amongst corporates. Coined in 1997 by John Ellington, the concept of TBL is based on the premise that business entities have more to do than just make profits for the owners of capital. "People, Planet and Profit" is used to succinctly define the triple bottom lines. "People" (Human Capital) pertains to fair and beneficial business practices toward labour and the community and region in which a corporation conducts its business. "Planet" (Natural Capital) refers to sustainable environmental practices. It is the lasting economic impact the organization has on its economic environment. A TBL (Triple Bottom Line) company endeavours to benefit the natural order as much as possible or at the least do no harm and curtails environmental impact. Profit is the bottom line shared by all commerce. Therefore, the company can work for any issues addressing to the needs in any manner. People issues faced by the organisation include The planet concerns include- Health Safety Diversity Ethnicity Education and literacy Prevention of child labour Differently-abled. Climate change Energy Water Biodiversity and land use Chemicals, toxics and heavy metals Air pollution Waste management Ozone layer depletion Ocean and fisheries Afforestation. The Profit Bottom Line includes: Creating Employment Generating Innovation Paying Taxes Wealth Creation The need to apply the concept of TBL is caused due to - Increased consumer sensitivity to corporate social behaviour Growing demands for transparency from shareholders/stakeholders Increased environmental regulation Legal costs of compliances and defaults Concerns over global warming Increased social awareness Awareness about and willingness for respecting human rights Media's attention to social issues Growing corporate participation in social upliftment. Case Studies on Triple Bottom Line Reporting: Tata Steel: A Company that also makes Steel & Continuous Reporting on Triple Bottom Line ITC: Continuous Reporting on Triple Bottom Line