'QHSE' Professional Blog

The Triple Bottom Line (TBL or 3BL) is known  as a model created by  John Elkington in 1994. It considers impacts of businesses in three dimensions: social, environmental and economic performance. The idea is often broken down into “people, planet, profit”.  This helps to understand and  track the  economic, social and environmental value  the organizations added or destroyed.  Source: RMIT, Sustainability and Social Impact course, 2023 Sustainable development index is considered as the area where three dimensions overlap in the Sustainability Venn Diagram as shown below.  The idea of achieving financial success and benefiting society drives the idea of creating shared value. The concept proposed by Michael Porter and Mark Kramer in a 2011 Harvard Business Review article says that businesses can look beyond corporate social responsibility (CSR) and improve profitability by considering social and environmental impacts in their strategies. This approach suggests that environmental or soc

The subject of ESG (Environment, Society, and Governance) is developing rapidly. It is making the boom and stakeholders make efforts for sustainable development goals. Hence, ISO Management system auditors and consultants are likely to be learning them. Here, I wanted to share the similarities between these 2 standards. If this could be learned, it will be easy for companies to get assurance in ESG based on their current implementation of management system standards (ISO 9001, ISO14001, etc.)  First of all, what is ESG and what is SASB?  - ESG stands for Environmental, Social, and Governance. Investors are increasingly applying these non-financial factors as part of their analysis process to identify material risks and growth opportunities. ESG metrics are not commonly part of mandatory financial reporting, though companies are increasingly making disclosures in their annual report or in a standalone sustainability report. Numerous institutions, such as the Sustainability Accounting St