In my previous column, we talked about sustainability and why it is essential. In this issue, we will be exploring the topics of “Circular Economy” and “Sustainability Development Goals”; however, we first need to understand a concept often used when speaking about these subjects, particularly in the business sector, “The Triple Bottom Line”.
The Triple Bottom Line was a term coined by John Elkington in 1994. He argued that the methods by which companies measure value should include not only a financial bottom line (i.e. profit or loss) but also a social and environmental one. This concept has evolved into one easily described as equal overlapping circles in which sustainability lies at the center. It has helped businesses acknowledge that the long-lasting sustainability of an organization requires more than just financial equity. To achieve sustainability, we must also conform to social and environmental conditions.
Does this mean businesses should sacrifice financial gains? Of course not. The call is for organizations to use the economy as a strategy to achieve an environmental and social equilibrium altogether. The economic gains ought not to be the outcome, but a means to an end. The idea here is to have a thriving economy which leads to a growing economy. In other words, we should all benefit from this booming economy, not just a few.
This brings us to the circular economy part of the equation, where we must leave behind the Take – Make – Dispose – strategy (i.e. cradle to grave). Say you buy a top generation mobile phone this year and buy a new one next year just for the sake of having the latest edition. When we do this, we use a finite supply of resources and pressure the natural environment. We should accept how the natural cycles of the world operate and change our mentality into something circular, where we Reduce – Recycle – Reuse (i.e. cradle to cradle). At first glance, this shift might not be as arduous as we think. However, there is more we need to take into consideration.
At a more industrial and commercial level, we can create safer and compostable materials or recycle valuable metals, polymers, and alloys that can be continuously useful beyond the shelf life of an individual product. At a personal level, I recommend an evaluation of our current ecological footprint -something we discussed in the last edition – and then use a framework that will guide the regular citizen into having a sustainability mindset. As some of us might be new to sustainability strategies, in September 2015 the United Nations developed the Sustainable Development Goals (SDGs), also known as the Global Goals. As a rule of thumb, focus first on one or two SDG goals, such as – Responsible Consumption and Production.
How can we apply this in our daily lives and routines? Set up or buy an off-the-shelf composting system, such as a vermicomposting or bokashi system at home. Why start here? Let’s just say that beginning to incorporate other living beings to help us be more sustainable is a way to acknowledge that the world works as a whole, where different ecosystems can work together for a greater good. What do I mean by this? Both the systems suggested need some sort of bacteria, yeast, or invertebrates to decompose food, together with the existence of an aerobic or anaerobic environment – something we can further discuss in a future conversation.
Here we have a Triple Bottom Line, Circular Economic definition coupled with the potential use of the UN SDGs to develop a more sustainable framework, hence creating less ecological pressures, instigating a thriving economy, and a positive social impact.
