The Triple Bottom Line is made up of social, economic and environmental aspects and indicated by the phrase 'people, planet and profit'. Elucidate.

Triple Bottom Line Triple Bottom Line is a phrase coined in 1994 by John Elkington. The concept of the Triple Bottom Line proposed that business goals are inseparable from the society and environment within which they operate. The Triple Bottom Line is made up of "Social, Economic and Environmental" aspect and is indicated by the "People, Planet, Profit" phrase. " People " means Human Capital. It implies that fair and beneficial business practices towards labour and the community and region in which a corporation conducts its business would create long-term value. Wellbeing of a corporate, its labour and other stakeholder interests are interdependent. The second aspect of TBL is " Planet " - the Natural Capital. It refers to sustainable environmental practices. A company which decides to follow TBL always keep in mind that it does no harm to nature or creates negative environmental impact. The third aspect of triple bottom line is profit . The concept of profit for TBL company is somehow more wider in all perspective. It is the reflection of economic impact an organization has on its business activities and that too after meeting all costs that would protect society and environment.