Hi Alex here. You've probably heard about the triple bottom line: a concept that is
used a lot when speaking about sustainability, and particularly
sustainability and business. John Elkington, a global authority on
corporate responsibility and sustainability, coined the phrase in a
book in 1997. His argument with that the methods by which companies measure value
should include not only a financial bottom line, profit or loss, but in social
and environmental one as well. The concept has evolved into one that's
often described as three overlapping circles. You've probably seen this image
before: sustainability is typically defined as the place where economy,
social realities, and environmental health overlap. The concept of the triple
bottom line mainstreams the idea of sustainability as including people
planet and profit. It helped business to understand that long term sustainability
of an organization required more than just an financial equity. It also helped to
clarify that when businesses were considering what sustainability meant
for them, it didn't mean they had to give up the notion of financial success. But
this overlapping circles image of the triple bottom line can convey a lot more.
The circles are all the same size. Does this indicate that the economy is the
same relative size, or value, as the other two circles which deal with society and
the environment? Can we trade, say two social and three environment for five
economy, as long as we stay in the overlapping bit in the middle:
Sustainability? Let's see if science can help us understand this better. For more
details about this, check out earlier videos. Science tells us that left to its
own devices, the planet operates in a balanced way. We call this the cycles of
nature and they are powered by energy from the Sun. Science also tells us that
matter is not created nor destroyed, while laws of thermodynamics tell us that
everything tends towards dispersal. That's the principle of entropy.
Because plant cells are, for all intents and purposes, the only cells that can
produce structure from energy, photosynthesis is the process by which
matter is structured on our planet. This is why we say that photosynthesis pays
the bills. Without it, creation of structure from energy will not occur and
entropy would rule the day. So how does this help us understand the triple
bottom line? Plant cells belong to the environment circle of the triple bottom
line. If these plant cells are the original creators of structure, then this is the
circle on which everything else depends or in which everything is embedded.
Everything comes from nature at some point. Society, which is related
to the social circle of the triple bottom line, exists within the
environment, and economy is a byproduct of society. So instead of three overlapping
circles, we have three nested circles where the economy is wholly owned
subsidiary of the environment. To achieve sustainability, we need to comply with
social and environmental conditions: meeting human needs within ecological
constraints. Does this mean that business has to put financial gain last? Of course
not, but economic decisions are part of a strategy to make more money while
getting closer to social and ecological sustainability. The economy is a means to
an end, not the end itself. It's important to remember that paying
the bills happens on multiple levels and ultimately we're all dependent on
photosynthesis. This is helpful for business because it provides new
perspective on the rationale for integrating sustainability into who and
how they are in the world. There you have it: a new look at the triple bottom
line viewed through the lens of science. If you enjoyed this video, please
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