WHAT IS 3BL

The Triple Bottom Line is an accounting framework with three parts. These are: social, environmental, and financial. Traditional bottom line accounting only takes into account the “true” profit or loss of a company from a purely financial standpoint. The Triple Bottom Line (3BL) does more. It brings attention to the larger picture that a business resides in and accounts for the impact, both positive and negative, that they have. The goal of the 3BL is to account for all negative actions and impacts and replace them with net positives through these three principles: people, planet, profits.

PEOPLE

Through the people aspect, each business must take into account the effect that their business will have on the larger community. The goal of this is to provide better opportunities through gainful employment and living wages to individuals who are otherwise unable to provide for their own or their families wellbeing. This can also be providing fair access to markets for farmers, and creating non-negative, non-predatory businesses that do not eliminate existing local businesses and income for communities, but instead work to supplement existing livelihoods or filling needed gaps in their marketplace.

PLANET

The second aspect of 3BL is the planet aspect. In recent years countries around the world, especially in Asia and Southeast Asia, have worked to improve their overall environmental footprint. By being environmentally and socially responsible as a business, Solbon does the same and works within the government’s own framework. For example, if a business is making a profit and providing positive welfare to their employees yet causing ecological damage or dumping waste into rivers causing pollution or toxins, then the net negative of that should be added to the bottom line. The 3BL takes such ecological footprints into account. Ensuring that all of the products and waste from the source are properly and responsibly managed and leaves no lasting negative impact on the environment or the community.

PROFIT

The final aspect is the traditional one, profits. The profit aspect of a business is to make money and to grow as a business into profitability. As a social enterprise, Solbon works to promote profits that promote wellbeing for individuals and for the community at large. Profits gained from businesses are reinvested into the community, to create more opportunities, or to provide alternative resources. For example, healthcare, education, business training, or new entrepreneurial solutions in this community or another. By reinvesting profits into the community or new businesses, more opportunities and growth can occur in these regions.

These three parts; people, planet, profits, form the core of Solbon’s initiative and values and is the basis that all of our partners agree to form their businesses. By keeping these in focus and as a part of the whole business plan and proposal, every business can be tailor-made to help address the needs of specific communities around the world. By doing this, we can make positive impacts on communities and economies at large, spurring further economic development in these regions through socially responsible business practices.