The Future is Triple Top Line.
The integration of Environmental, Social, and Governance (ESG) factors into decision making and investment processes has seen continuous growth recently. With the investment world taking an active role in achieving the UN Sustainable Development Goals (SDGs), there is an increasing need for a framework enabling sustainable and quantifiable value creation and implementation. The solution? The Triple Top Line (TTL).
We’re all familiar with the concept of the Triple Bottom Line - a business concept that suggests firms should commit to measuring their social and environmental impact, in addition to their financial performance, rather than solely focusing on generating profit - but the Triple Top Line is a different theory altogether and some may say, the future.
The term Triple Top Line was coined by William McDonough and Michael Braungart, in their book ‘Cradle to Cradle’ (2002). Their key message is that waste equals food, meaning that the manufacturing of goods does not need to damage the environment through waste or pollution.Initially, the idea of TTL referred to human-centric, sustainable product design that is mindful of the planet and profitable.
“It’s now evolved into a business approach that asks companies to think about those principles too. The idea is that the business should be created not just to minimise its negative impact on people and the planet, but to create a positive impact with every sale. It’s about building a model that is sustainable no matter how much you scale it; as opposed to growing a company and then mitigating any harm it causes afterwards. At the core of the TTL concept is the principle of interconnectedness, where companies reflect how a decision in one category affects the others.” - Greta Monstavi??, Katalista Ventures
So, how can startups implement the Triple Top Line?
Understand your business - look at where you currently fit in creating a positive impact on the planet. Redefine your vision, values and your mission
Identify Key Impact Areas - consider the areas where most impact is / can be made and establish metrics that will help you to reach your business goals
Manage the Impact - once you’ve identified key areas of impact and set goals, it’s about defining initiatives that not only help you reach your goals but thinking about how they affect people, planet and profit.
For the concept of TTL to work within your business, you have to look at resource efficiency, sustainability training and most importantly ensure equal consideration of the three P’s - people, planet and profit - which starts with the team that drives your business.
At 4zero, we believe that mission and value alignment are essential for successfully recruiting and retaining talent. When employees feel connected to your mission and your values, they feel inspired to contribute their best efforts.
By aligning people and companies based on shared values and drivers, we leverage the power of purpose and engagement to help companies hire better, create phenomenal cultures, be more profitable and become stronger businesses.
Your employees can only be aligned with your mission and values if they have a defined purpose that provides meaning to their work.
No one is better placed to deliver this than 4zero.
Call us today on (UK & Europe) +44208 089 8300 / (US) +1(929) 566 2860 or email us at firstname.lastname@example.org