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Proutist Economic Development Triple Bottom Line. Dr. Michael Towsey and Dieter Dambiec. economy. ecology. community. financial value. A business enterprise takes place around three kinds of value which interact. A sustainable business will have three positive balances.

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proutist economic development triple bottom line

Proutist Economic DevelopmentTriple Bottom Line

Dr. Michael Towsey

and

Dieter Dambiec

 2004 Proutist Universal

slide2

economy

ecology

community

Proutist Universal

slide3

financial value

  • A business enterprise takes place around three kinds of value which interact.
  • A sustainable business will have three positive balances.
  • The Triple Bottom Line focuses attention on three kinds of added value – economic, human / social and environmental.

sustainability

human & social value

ecological value

Proutist Universal

the triple bottom line
The triple bottom line

The triple bottom line

Proutist Universal

who is doing it
Who is doing it?
  • Royal Dutch / Shell Group
  • BP (British Petroleum)
  • Rio Tinto
  • British Telecom
  • Volkswagon Group
  • Toyota Motor Corporation
  • Credit Suisse Group
  • Around 290 businesses in 29 countries release sustainability reports based on the guidelines of the Global Reporting Initiative (GRI)

www.globalreporting.org/about/brief.asp

Proutist Universal

why are they doing it
Why are they doing it?

The Prestige…

The Prestige

– Oil Spill 2002

Proutist Universal

the prestige oil spill
The Prestige Oil Spill
  • An environmental catastrophe occurs as a tanker sinks off the coast of Spain.
  • The stricken Bahamas-flagged Prestige, carrying millions of barrels of oil, leaves a slick over 200 metres wide and 30 km long off the north-western Spanish coast.
  • The slick threatens one of Europe's most picturesque and wildlife-rich coasts.

Proutist Universal

who does the clean up work and pays
Who does the clean up work and pays?
  • Members of the French Navy deliver oil-trapping nets to Galician fishermen.
  • Workers place a floating barrier to protect the coastline from spilled oil.

Proutist Universal

what are the impacts
What are the impacts?
  • Oil washes up on the shore in Camelle.
  • Spanish sailors help shovel sludge off an oil-stained beach.

Proutist Universal

who has to live with it
Who has to live with it?
  • Inhabitants of Camelle watch clean up efforts for the Prestige oil spill.
  • A resident walks on an oil-soaked shore near Porto do Son.

Proutist Universal

sustainability
Sustainability
  • Companies have a social responsibility to ensure their business practices are sustainable.
  • But look at the derangements:
    • The idea that business has a social responsibility is fundamentally subversive. - Milton Friedman
    • Anyone who does anything for anything other than profit is either a madman or a bankrupt. - Mr McKinnon, Minister for Defence, Australia, 1970s.
  • But what is happening now?

Proutist Universal

shell report 2002
Shell Report 2002

For 2003 see:www.shell.com/home/Framework?siteId=shellreport2003-en

Proutist Universal

the social auditing cycle
The social auditing cycle

A sustainable company will:

  • Define its values
  • Define its social and environmental objectives / targets
  • Identify stakeholders – all those affected by its business
  • Account for all components of its social objectives
  • Report the accounting results
  • Have the report independently audited by qualified social auditors
  • Set new targets and improve its performance

Proutist Universal

the benefits of social auditing
The benefits of social auditing
  • “Improved employee satisfaction … improved relationships with key government stakeholders, community groups and non-government organisations … improved reputation in the market place.”

(BP Australia)

  • “Improved relationship with regulators.”

(Integral Energy, Sydney)

See research by the New South Wales Chamber of Commerce:

www.thechamber.com.au/homezone/Policy/TheCommonGood/CommonGood.asp

Proutist Universal

international standards
International standards
  • International reporting standards:
    • Global Reporting Initiative (GRI) established 1997.
    • www.globalreporting.org
    • Reports should be verifiable.
    • Steering group includes: U.N. Environment Program; World Business Council for Sustainable Development; New Economics Foundation.
  • International auditing standards:
    • AccountAbility: Institute of Social and Ethical Accountability.
    • www.accountability.org.uk
    • AA1000 Assurance Standard (2002).

Proutist Universal

maleny credit union
Maleny Credit Union

www.malenycu.com.au/reports_html

www.malenycu.com.au

- Ecological Sustainability indicators

Proutist Universal

maleny credit union17
Maleny Credit Union

Governance Policies:

www.malenycu.com.au/library/files/policy_gov.pdf

  • During the course of 2002-03 the MCU Board developed and accepted a governance policy based on the Carver Model.
  • See: www.carvergovernance.com/model.htm
  • The MCU Governance Policy covers:
    • Financial Sustainability;
    • Social Sustainability;
    • Environmental Sustainability.
  • The governance policy directs the operations of the MCU and is reviewed regularly by the Board.

Proutist Universal

quadruple bottom line
Quadruple bottom line
  • Where do we go next?
  • The quadruple bottom line adds in culture as an accountability, reporting and auditing requirement.
  • It recognises that business can promote and learn from indigenous culture - thereby creating economic, social, environmental and cultural benefits.
  • See for example in New Zealand (Aotearoa):

www.rodgerspiller.com/attachments/ethical-investor-october-2003.pdf

  • Also (it may be the 4th or 5th bottom line):
  • www.metafuture.org/Articles/spirituality_bottom_line.htm

Proutist Universal

quintuple bottom line
Quintuple bottom line
  • The quintuple bottom line looks at how an enterprise works cooperatively and how the cooperative itself promotes social equality in society as a whole.
  • An extension of the quadruple bottom line?
  • Enterprises should aim to achieve a society free from all social inequalities with the human race moving in unison in its diverse and elevated expressions.
  • Eg, to achieve social parity, Unity: Journalists of Color Inc demands that by 2008 minority journalists should comprise no less than 20% of American newsrooms, and at least 15% of newsroom managers.

See: www.unityjournalists.org/news_fcc.html

Proutist Universal

cooperative action
Cooperative action
  • The structural commercial or business model required to achieve social parity in day-to-day interaction and working life is the cooperative enterprise.
  • Cooperatives are the main means of ensuring rational distribution of profits to workers and / or shareholders in the local economy.
  • They aim for social equality and equal locus standi.
  • The cooperative system is capable of ensuring the social welfare of all citizens in the local economy.

Proutist Universal

proto spiritual outlook
Proto-spiritual outlook
  • To achieve social parity and implement the principle of social equality requires a broad outlook and universal view.
  • This is the proto-spiritual mentality.
  • In this way limiting geo-sentiments and socio-sentiments can be easily surmounted.
  • The movement is toward neo-humanism - respect for all humans, animals & plants and their worlds.
  • A Gaian nature-friendly ethic and practice.

Proutist Universal