Integrating sustainable chain management with triple bottom line accounting |
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| Institution: | 1. CSIRO Resource Futures, GPO Box 284, Canberra, ACT 2601, Australia;2. School of Physics, A28, The University of Sydney, NSW 2006, Australia;1. Department of Applied Plasma and Physics, School of Physics, University of Sydney, NSW 2006, Australia;2. Faculty of Pharmacy, University of Sydney, NSW 2006, Australia;3. Department of Nanobiomedical Science & BK21 PLUS NBM Global Research, Center for Regenerative Medicine, Dankook University, Cheonan 330-714, Republic of Korea;4. School of Applied Sciences, RMIT University, Melbourne, Victoria 3001, Australia;1. Postdoctoral Researcher, Chair of Supply Chain Management, Friedrich-Alexander University Nuremberg, Lange Gasse 20, Nuremberg, Germany;2. Professor, FH Kufstein University of Applied Sciences, Austria;1. Centre for Advanced Materials Technology, School of Aerospace, Mechanical and Mechatronic Engineering, University of Sydney, NSW, 2006, Australia;2. Applied and Plasma Physics, School of Physics, University of Sydney, NSW, 2006, Australia;3. Discipline of Pathology and School of Medical Science, University of Sydney, NSW, 2006, Australia;4. Bosch Institute, University of Sydney, NSW, 2006, Australia;5. Charles Perkins Centre, University of Sydney, NSW, 2006, Australia;1. Grupo de Procesos Químicos y Bioquímicos, Departamento de Ingeniería Química y Ambiental, Universidad Nacional de Colombia, Cra 30 45-03, Bogotá, Colombia;2. ERPI (Equipe de Recherche des Processus Innovatifs), Nancy, France;3. Grupo de Investigación en Agua y Desarrollo Sostenible, Departamento de Ingeniería Ambiental, Universidad Central, Bogotá, Colombia;1. Bartlett Faculty of the Built Environment, University College London (UCL), London, UK;2. Department of Building, Civil, and Environmental Engineering, Concordia University, Montreal, QC, Canada;3. Department of Civil, Environmental, and Geomatic Engineering, Faculty of Engineering Science, University College London (UCL), London, UK |
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| Abstract: | Triple Bottom Line accounting is widely advanced as a way in which firms can realise broader societal objectives in addition to increasing shareholder value. In our analysis of the Australian economy, we integrate financial input–output tables that describe the interdependencies between economic sectors, with national social and environmental accounts to construct numerate ‘triple bottom line’ accounts for 135 discrete sectors. The accounts are portrayed against the numeraire of ‘one dollar of GDP’. Thus, for a sector of the economy, financial aspects of performance can be expressed for example as dollars of export earnings per dollar of GDP. Social aspects such as employment can be portrayed as minutes of employment generated per dollar. Greenhouse issues can be portrayed as kilograms of carbon dioxide emitted per dollar.Since these indicators of ‘triple bottom line’ performance are referenced against financial units and are consistent with the system of national accounts, they can be applied to financial accounts of a firm, a service or a product, and allow a robust triple bottom line account to be developed across a range of scales. The critical advantage of this approach is that it includes both the direct or immediate effects as well as the indirect or diffuse effects associated with a large and distant chain of supply paths. The incorporation of most indirect or upstream effects therefore expands the range of issues and effects within the analytical boundary, and also includes imports and exports. Both products and firms can then be assessed properly in sustainable chain management (SCM) terms. Thus, a firm that uses a key intermediate input that requires a large amount of water for example cannot hide the environmental implications since they are revealed in the analysis of the full production chain. This revelation can also underpin progress when firms acknowledge both the direct and indirect effects, and improve their selection of key inputs on a wider range of criteria, rather than on price alone.Our analysis is well developed at the economic sector level for Australia and is also being applied to number of government institutions, firms, and individual products. Before the full benefits of numerate triple bottom line accounting can be applied to the equity issues of globalisation, trade interdependencies between groups of typical countries will have to be analysed using these whole economy approaches. This will allow country-specific intensities to be applied to important items in the international production chain. |
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