When beginning a journey of sustainability, a concept to consider is the idea of the triple bottom line.
This is the balance between the planet, people, and profit.
While I like the shorthand definition, there is one adjustment that I prefer.
In this article from the University of Wisconsin, they swap the word profit for the word prosperity.
The word prosperity broadens the lens of richness and wealth beyond the financial domain.
Les Sinclair wrote a great LinkedIn post about the difference with a summary that….
“Prosperity is a state of being, while profitability is accounting.” – Les Sinclair
Both cover the concept that the ecosystem needs to be financially viable.
My Perspective
While the triple bottom line is primarily used in the workplace to consider solutions, I believe the idea is equally applicable to our decisions at home.
We have the goals in both places to lighten our impact on the environment, focus on the health of our family (and employees), and ensure the home (or business) is not in financial trouble.
The concept can be applied to the overall system and to the decisions we make each day.
Consider energy use to heat and cool the environment at home or work. Questions might include:
- Planet Impact – What is the source of energy (renewable or not)?
- People Impact – What temperature are we setting to ensure the comfort of family/employees?
- Prosperity Impact – Based on the choices above, what is the monthly cost of energy?
Now, let’s shift to the purchase of a product for home or work. Questions might include:
- Planet Impact – What is the product made of? What is the impact of the packaging?
- People Impact – Are there toxins in the product that could impact health? Are the workers making the product treated well and making fair wages?
- Prosperity Impact – How will the price of the product impact our financial situation? Will the product add to our overall wellbeing?
As we make decisions in our lives at work and home, starting to consider the impact of the triple bottom line can become second nature.
This enables us to start questioning our past decisions and considering alternatives for the future.
Your Turn
Have you heard of the concept of the triple bottom line?
How could you start to consider these attributes when making decisions at work or home?
Do you think conscious consideration of the three areas would drive different decisions?