It is a little bit vague. Provide more details. Saving Changes...
Thomas WalentaGlobal Project Economy ExpertHackenheim, Germany
Aamir,
there is a lot of experience and regulations how companies not only report on their financial bottomline, but also on social and environmental achievements. It runs under terms like ESG/sustainability reporting, European Sustainability Reporting Standards (ESRS), or
https://earth.org/worlds-most-sustainable-companies-in-2021/ Saving Changes...
AAMIR AYOUB MIRJammu & Kashmir Financial Services LtdJk, India
thank you everyone Saving Changes...
Peter RapinSubject Matter Expect; Project Delivery| Independent ConsultantOntario, Canada
I provide the following comment in order to start discussion. Let's be clear here, we are talking about companies (not persons). A company sole purpose is for the financial benefit of the owners
I am not a believer in the "triple bottom line" concept. In a capitalistic society a business has but one 'bottom line" - show a profit. Without it there is no sustainable company. Doesn't matter how appropriate your social and environmental performance is - no money, no business.
I also believe that a successful business has to be socially and environmentally responsible, especially in the long term. If society doesn't support you, society will not support your services therefore no sales
Thus, social and environmental responsibility is a means to an end (make money) not an end in itself.
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1 reply by AAMIR AYOUB MIR
Jan 03, 2023 10:27 AM
AAMIR AYOUB MIR
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people make companies not robots
Saving Changes...
AAMIR AYOUB MIRJammu & Kashmir Financial Services LtdJk, India
quite interesting reply. I am a research scholar and want to discuss whether TBL helps in measuring social and environmental performance Saving Changes...
AAMIR AYOUB MIRJammu & Kashmir Financial Services LtdJk, India
Jan 03, 2023 10:12 AM
Replying to Peter Rapin
...
I provide the following comment in order to start discussion. Let's be clear here, we are talking about companies (not persons). A company sole purpose is for the financial benefit of the owners
I am not a believer in the "triple bottom line" concept. In a capitalistic society a business has but one 'bottom line" - show a profit. Without it there is no sustainable company. Doesn't matter how appropriate your social and environmental performance is - no money, no business.
I also believe that a successful business has to be socially and environmentally responsible, especially in the long term. If society doesn't support you, society will not support your services therefore no sales
Thus, social and environmental responsibility is a means to an end (make money) not an end in itself.
people make companies not robots
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1 reply by Peter Rapin
Jan 03, 2023 10:43 AM
Peter Rapin
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Companies are not people although it seems modern society is attaching people characteristics to companies. In a capitalistic environment companies are vehicles specifically created to generate income for the people that created them (and sometimes to hide the owners from their obligations). It is not the companies that have social and environmental obligations, its the owners and managers.
Saving Changes...
Peter RapinSubject Matter Expect; Project Delivery| Independent ConsultantOntario, Canada
Jan 03, 2023 10:27 AM
Replying to AAMIR AYOUB MIR
...
people make companies not robots
Companies are not people although it seems modern society is attaching people characteristics to companies. In a capitalistic environment companies are vehicles specifically created to generate income for the people that created them (and sometimes to hide the owners from their obligations). It is not the companies that have social and environmental obligations, its the owners and managers.
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1 reply by Stéphane Parent
Jan 05, 2023 7:42 AM
Stéphane Parent
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"and sometimes to hide the owners from their obligations"
By design, companies--especially corporations--are meant to transfer risks and liabilities away from the owners.
Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
Jan 03, 2023 10:43 AM
Replying to Peter Rapin
...
Companies are not people although it seems modern society is attaching people characteristics to companies. In a capitalistic environment companies are vehicles specifically created to generate income for the people that created them (and sometimes to hide the owners from their obligations). It is not the companies that have social and environmental obligations, its the owners and managers.
"and sometimes to hide the owners from their obligations"
By design, companies--especially corporations--are meant to transfer risks and liabilities away from the owners. Saving Changes...
Latha Thamma reddiSr Product and Portfolio Management (Automation Innovation)| DXC TechnologyMckinney, Tx, United States
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