墨尔本经济学论文代写 Safety Health And Environmental Management System
Pillar 2: Environmental
The environmental aspect in TBL is critical in the current era where the focus is on saving the planet and reducing carbon emissions. TBL approach encourages company to utilize the natural resources in an efficient manner that has a mechanism to replenish the resources without causing any adverse impact on the ecology. TBL calls for businesses to take a pro-active approach in preservation of the environment and look for alternative sources or technology. The businesses are now looking at ‘cradle to grave’ approach that makes them responsible for their products and the ecological damage that it causes starting from the raw material extraction or processing to until after the customer uses it. A good example would be HP setting up collection centres for its printer cartridges that it recycles. Even Wal-Mart has moved away from multiple packaging of the products and moved to simple packages that help in reduction of wastes. Still the percent of businesses that truly practise this aspect of TBL is very less. However, there is a positive side to it as customers are now turning ‘Green’ which has forced many companies to change their strategy in respect of the environment.
Another good example of how even services companies, that are not often viewed as a cause of pollution, are doing their bit for conserving environment (even though it is much more of the economical aspect). Banks for instance have moved away from traditional branch banking and moving towards e-banking reducing the use of paper in all the transactions. It also makes economical sense as it leads to saving of tons of paper i.e. less cutting of trees. In addition, printer cartridges use in banks has declined. The customers on the other hand are happy as they can comfortably do their banking activities and some banks are giving incentives to customers by reducing banking charges for turning to e banking also popularly referred to as ‘Green Banking’.
Pillar 3: Economic
The economic aspect of TBL is the most critical for the business as it is the original bottom line. However, the economic aspect is vast and profit is just a small part. In this the profit of not only the company but also of all the stakeholders including the employees, local community is considered. It differs from traditional aspect of accounting where 2 + 2 = 4 but seeks to make 2 + 2 = 5, which includes the value the company creates to the society, whatever way it does it.
The economic aspect has links to other two pillars i.e. social and environmental, being a major force that can help drive the other two aspects as companies would strive to create wealth for its shareholders.
In fact, all three pillars are inter-related as in the long-run only businesses that are socially and environmentally sustainable can create economic benefits both for the company and the other stakeholders and can lead to a win-win situation as described earlier.
The following chart sums up the main message of the triple bottom line concept:
It is the intersection of the three pillars of Triple Bottom Line, which creates a common ground for a sustainable future for the business and the society.
Case Study – ITC’S TRIPLE BOTTOM LINE
Despite of high volatility in the financial, commodity and consumer market, ITC was able to maintain a stable performance boosting the cost competitiveness and cushion the impact of the economic slowdown. There has been a plunge of the gross turnover to grow by 8.4% whereas the net turnover increased by 10.3%.and finally the post tax operations reaching the growth of 4.6% totalling Rs. 3264 crores.
ITC’s contribution to as a creator of wealth in the private sector has been remarkable owing to its unique business models, corporate strategies, governance philosophy of trusteeship and the economic value created by it. It has contributed by supporting the livelihoods of 26 thousand people through direct employment and over 50 lakhs through business and social initiatives.
The company has put enormous efforts in aligning the stakeholders through
ITC has been seeking to adopt technologies and services to minimise carbon emission and reduce the consumption of fresh water. It has taken numerous steps towards environment sustainability
Identify ‘climate change’ risks in various ITC businesses and implement mitigation/ adaptation measures.
Improve competitive advantage through innovations in products, technologies and leveraging opportunities offered by CDM projects.
Minimise ITC’s GHG emissions through:
Achieving minimum specific energy consumption in each business
Maximising their renewable energy portfolio
Enlarge our Carbon Positive footprint.
Strategy 1 – Climate change, risk management
ITC has taken numerous initiatives to mitigate risk associated with the climatic change. some of them include. Climate change and agriculture:
As majority of the raw materials utilised by ITC are agro-based products. Its R&D specialists are collaborating with expert study groups and examining agricultural productivity/adaptation issues related to climate change. Its water conservation, watershed development and rainwater harvesting projects contribute significantly in improving the sustainability of our agro-related businesses.
Coastal Vulnerability as many of ITC’s plants and a hotel is in the coastal region. Therefore, it has taken a number of steps to prevent any damage due to the climatic irregularities.
Minimising carbon intensity – Implementation of advanced technology has contributed to ITC’s business to achieve significant reductions in energy consumption and minimising carbon footprint in different product lines.