Carbon and Ecological Footprint
Triple Bottom Line Analysis, Carbon & Ecological Footprint Analysis
"We do not run our companies to earn profits, we earn profits to run our companies"
Tachi Kiuchi Smart Societies Episode 9 - Good Corporate Citizens
Why should organisations report on the triple bottom line and why should organisations use the Integrated Sustainability Analysis (ISA) methodology for their Carbon Footprint, Ecological Footprint and Triple Bottom Line Analysis?
SHGL has adopted a triple bottom line (TBL) software methodology developed by Sydney Universities Integrated Sustainability Analysis (ISA). The calculation software is called 'Bottom Line 3'. This method is science based and rigorous and can be independently verified to ensure accuracy and transparency. The ISA methodology addresses the problem of double counting in emissions assessments and business to business comparability.
This provides your business an economy wide 'Carbon or Ecological Footprint' rating and a TBL comparison to your industry competitors. Bottom line 3 is a scientific and rigorous approach that calculates the real cost of business operations on the economy, society and the environment using accurate and current data from the Australian Bureau of Statistics & CSIRO.
This is the first corporate responsibility index that allows business-to-business TBL performance comparison across the Australian economy concerning corporate social responsibility.
Your journey toward sustainability using the ISA method will delineate your business as a socially and environmentally responsible entity that is committed to prosperous future for everyone.
Please contact our Sydney or Brisbane office to inquire about our commercial sustainability solutions.
Integrated Sustainability Analysis (ISA) Bottom Line 3 Software
The Sustainable Harvest TBL Experience
Sustainable Harvest Group Limited has undertaken an analysis of our Triple Bottom Line (TBL). The decision to undertake this analysis was to gain insight into the total impact our business was having on the environment, society and the economy. Sustainable Harvest Group Limited also wanted to initiate a benchmark for competitors in our industry to measure and compare environmental performance using a uniform and transparent accounting method that relates to the nationwide economy. The U.K. and the U.S. are currently adopting the TBL method for their own economies.
Consistency in Comparison
Triple Bottom Line provides a framework for measuring and reporting corporate performance against, economic, social & environmental benchmarks. Reporting on TBL makes transparent the organisation's decisions that explicitly take into consideration impacts on the environment and people, as well as financial capital.
TBL Origins
TBL was created by John Elkington in 1997. Elkington used the term to mean an expanded baseline for measuring performance. Instead of the usual financial bottom line he talked of the social, environmental and economic bottom lines.
The business case for reporting on TBL using the ISA methodology
Reporting on the TBL can reduce risk, assist in delivering better outcomes for employees, shareholders, customers and clients, and enhance reputation. Management of risk, better outcomes for stakeholders and enhanced reputation can interact to produce a healthy operating environment and a reasonable expectation of company longevity pasty the quarterly KPI report.
Reducing financial risk
TBL reporting improves the management of financial through enhanced management systems and detailed monitoring of performance. A better understanding of risks leads to better resource allocation and business planning.
Benchmarking within and across organisations can lead to competitive advantage and greater access to capital from the finance sector increasingly considering non-financial performance communicated openly, for its investment decisions.
Reducing regulatory risk
National and international regulations around sustainability issues are changing rapidly. State, national and international legislation is being opted for what have previously been voluntary schemes (e.g. reduction of greenhouse gas emissions). Adoption of TBL reporting makes practices more transparent so that within an organisation areas of potential or current non-compliance can be easily identified by stakeholders.
The ISA methodology provides the detailed reporting necessary to identify where changes can or should be made to process and practices in order to comply with regulatory changes.
Reducing risk of adverse consumer response
Reporting transparently and openly on environmental, social and economic factors though the full supply chain indicates an acceptance of responsibility that business operations has on these three elements. Increasingly national and international bodies are critically assessing the reports of organisations. These "reports of reports" support comparisons between companies through publications like 'top companies' listings, which are gaining influence with consumer and investment groups. There are many reporting bodies that site issues of comparability and standardised methodology as being the main cause of the lack of business participation in the various corporate responsibility indexes available.
ISA can fulfil this need as it is science based and uses readily available, regularly published data.
Delivering better outcomes
TBL reporting helps deliver better outcomes by making the areas of accountability that are being addressed (e.g. environmental quality, social well being, community development, workforce development and stakeholder engagement; local economic growth). TBL is fundamental to good governance and supports integrated strategic planning and operations through the results. It gauges a company's contribution to social cohesion, economic prosperity and environmental quality and the interaction between these elements can be identified and manipulated to gain the greatest benefits. ISA provides comparability that enhances and complements other approaches to TBL reporting (e.g. GRI) that report on impacts within a specified boundary. ISA reports distil the complexities of the full company supply chain into results that communicate trade-offs and opportunities for action.
Enhancing reputation
The value of brand and reputation cannot be overestimated. TBL reporting means that areas that fall short of the ideal can be identified and discussed and targets set foe improvements. Likewise areas of achievement can be identified and celebrated. Use if the ISA methodology means that upstream problems can be uncovered and actions taken to improve inputs will be recognised.
Similarly downstream impacts can be identified and addressed or acclaimed. Such detailed information provides opportunities to recognise and laud good practice, as well as revealing opportunities for constant improvement.