Purposeful brands are driven by a mission to make a positive impact on the world. And a well-defined purpose is an engine that brings the whole business forward. But how do you measure the impact of a purposeful brand?
The triple bottom line is a sustainability framework that evaluates a company’s performance based on three key dimensions: People (social), Planet (environmental), and Profit (financial). It encourages businesses to go beyond traditional financial metrics and consider their broader impact.
People – assess how a company’s operations affect its employees, customers, and communities. It includes considerations such as fair labour practices, community engagement, and contributions to social wellbeing
Planet – this aspect evaluates a company’s environmental footprint, including its resource usage, waste management, and efforts to minimize pollution and carbon emissions. The goal is to promote eco-friendly practices and reduce environmental impact.
Profit – While traditional profit remains crucial, this dimension examines how financial performance aligns with sustainable and ethical practices. It emphasizes long-term economic health and responsible financial management that supports the other two dimensions.
The triple bottom line framework helps companies build sustainable and responsible businesses that contribute positively to society and the environment while still achieving economic success.