In economics, the triple bottom line (TBL) theory states that businesses should devote as much attention to social and environmental problems as they do to earnings. Instead of one bottom line, TBL theory proposes three: profit, people, and the environment. A TBL is used to assess a company’s commitment to corporate social responsibility as well as its environmental effect over time.
In 1994, John Elkington, a well-known British management consultant, and sustainability expert, created the phrase “triple bottom line” to describe his method of evaluating business performance. The concept was that a business might be run in such a manner that it not only earns money but also improves people’s lives and the environment.