Triple bottom line is a concept which, in addition to financial goals, takes into consideration social and environmental responsibilities.
In effect, the triple bottom line concept is the idea that it is possible to run an organization in a way that not only earns financial profits but also betters people’s lives and helps the planet. The elements of the triple bottom line are sometimes referred to as "people, profits and planet."
The phrase was introduced in 1994 by John Elkington. A key challenge with the triple bottom line, according to Elkington, is the difficulty of measuring the social and environmental impact of companies.
In order to be successful in the long term, enterprises need to consider not only financial, but also social and environmental implications of their business.
