SUSTAINABILITY


GOOD FOR BUSINESS AS WELL AS THE ENVIRONMENT


Nick Oettinger, Managing Director at The Furniture Recycling Group, comments on why businesses should be working to step up their CSR efforts to protect both the environment and the bottom line.


No longer are the social and environmental activities of businesses treated as additional or voluntary projects. Corporate Social responsibility (CSR) and triple bottom line (TBL) accounting now form a key part of core business models. Triple bottom line accounting incorporates profit, people and the planet, also referred to as the three Ps, as opposed to a traditional single bottom


34 | TOMORROW’S FM


line: profit. In other words, a business can choose to consider the social and environmental impact of its activities in the pursuit of profit and improve its corporate image in the process.


Together with a good CSR strategy, a triple bottom line approach helps generate revenue through reducing waste, improving energy efficiency and generally becoming more appealing to environmentally-conscious customers,


88% of whom think companies should try to achieve their business goals while improving society and the environment.


The importance of CSR in business has been gaining momentum over the past decade, and high-profile organisations are now implementing sustainability plans with an aim to meet government targets and improve public image. The European Commission proposed one such


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