As a Company Secretary of a growing multinational deeply rooted with the belief of Triple Bottom Line (TBL) approach, specify the areas where and how the company can focus.
CS Professional · Governance, Risk Management, Compliances and Ethics · PYQS · June 2023
As a Company Secretary of a growing multinational deeply rooted with the belief of Triple Bottom Line (TBL) approach, specify the areas where and how the company can focus.
Answer & Explanation:
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, '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 enshrined company endeavours to benefit the natural order as much as possible or at the least do no harm and curtails environmental impact. Therefore, the company can work for any issues addressing to the needs in any manner. For people issues faced by the organisation includes- Health Safety Diversity Ethnicity Education and literacy Prevention of child labour Differently-abled. The planet concerns include- 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 includes- Creating Employment Generating Innovation Paving Taxes Wealth Creation.
Topics: Corporate Social Responsibility (CSR)
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