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The Triple Bottom Line (TBL) Approach from the Accounting and Performance Measurement Perspective
Abstract
For the sustainable development of an entity, the strategy and the value creation cannot be analyzed in purely financial terms. Corporations must apply the principle of balanced development through disclosing economic, environmental and social combined aspects. Sustainability reports are sometimes known as Triple Bottom Line (TBL) reports or Triple P (people, planet and profit). A well-known example is the concept of multidimensional performance evaluation focused on the TBL theory. This chapter per the authors presents the fundamental concepts used in TBL reporting practice, ensuring a uniform terminology, and identifies and promotes the best reporting practices used in social and environmental decision making. As conclusion, it was reiterated that the future of TBL reporting is the achievement and the acceptance of a conceptual framework and of normative-pragmatic standards to support a comprehensive and credible reporting of the three dimensions.
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