Viscolloids works according to the triple bottom line, People – Planet – Profit.
That means that we are concerned with our profits but at the same time we keep in consideration how we impact the people around us and whether their activities affect the planet in a harmful way or not.
The triple bottom-line is a wide set of economic, environmental and social parameters used to encourage and then observe how valuable a firm is as a corporate citizen. The concept basically gives us a mechanism to measure what value businesses add to the world around us.
Triple bottom line (abbreviated as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial. As said the three pillars of sustainability are people, planet and profit.
Interest in triple bottom line accounting has been growing in both for-profit, nonprofit and government sectors. Many organizations have adopted the TBL framework to evaluate their performance in a broader context.
“People” pertains to fair and beneficial business practices toward labour and the community and region in which a corporation conducts its business. Viscolloids as a TBL company conceives a reciprocal social structure in which the well-being of corporate, labour and other stakeholder interests are interdependent.
“Planet” (natural capital) refers to sustainable environmental practices. Viscolloids as a TBL company endeavors to benefit the natural order as much as possible or at the least do no harm and minimise environmental impact. We endeavour reduces our ecological footprint by, among other things, carefully managing our consumption of energy and non-renewables and reducing manufacturing waste as well as rendering waste less toxic before disposing of it in a safe and legal manner.
“Profit” is the economic value created by Viscolloids after deducting the cost of all inputs, including the cost of the capital tied up. It therefore differs from traditional accounting definitions of profit. In the original concept, within a sustainability framework, the “profit” aspect needs to be seen as the real economic benefit enjoyed by the host society.
