Adopting the Triple Bottom Line to invest in a cleaner tomorrow | Shashi Tharoor | TEDxGateway

Summary

The speaker discusses the devastating impact of recurrent flooding in Kerala due to climate change, highlighting the region's vulnerability and its global implications. They emphasize the urgent need for sustainable development, introducing the 'triple bottom line' framework—profit, planet, and people—as a solution to align business goals with social and environmental responsibility. The speaker calls for collaborative efforts between governments, businesses, and civil society to redefine progress and development, ensuring a sustainable and equitable future for all. The address stresses that sustainable development is no longer a theoretical concept but an existential necessity for survival.

Takeaways

• 😀 The floods in Kerala are a recurring tragedy, with the region facing devastating flooding in 2018, 2019, and again in 2024 due to climate change.
• 🌍 The Indian Ocean region, home to two-thirds of the world’s population, is particularly vulnerable to climate change, affecting global stability.
• 🌧️ Climate change is no longer a distant concern; it is a present, existential threat, with immediate consequences like frequent flooding and extreme weather.
• 🚢 The Indian Ocean has historically been a site for trade, migration, and conflict, but now, it also faces the threat of environmental degradation.
• 🌱 Sustainable development is now a critical issue for Kerala, where extreme weather events challenge the survival of the community and environment.
• 📊 The Sustainable Development Goals (SDGs), adopted globally, include 169 targets that countries must meet by 2030 to address climate change and its consequences.
• 🌍 The triple bottom line approach — profit, planet, and people — is essential for businesses and governments to pursue sustainability and responsible growth.
• 💡 Businesses must consider not only financial performance but also their environmental and social impact, prioritizing long-term sustainability over short-term profit.
• 🏛️ Governments and civil society must create a framework that holds businesses accountable for their role in promoting sustainability, balancing economic growth with social responsibility.
• ⚖️ Economic growth alone is insufficient; true development must ensure equitable distribution of wealth, social cohesion, and environmental preservation.

Q & A

What event is the speaker referring to in Kerala?

The speaker is referring to the devastating floods in Kerala, which have occurred in 2018, 2019, and again in recent years. These floods have caused widespread human displacement, destruction, and loss of life.

What does the speaker say about the Indian Ocean region's vulnerability?

The speaker highlights that the Indian Ocean region, home to two-thirds of the world's population, is particularly vulnerable to climate change and extreme weather events like flooding, which have global repercussions, such as in East Africa and Australia.

How does the speaker describe the concept of sustainable development?

Sustainable development is no longer an abstract concept for the people of Kerala, who have experienced firsthand the devastating impacts of environmental changes. It is now seen as essential for survival, focusing on ensuring that future development is environmentally and socially responsible.

What is the triple bottom line framework?

The triple bottom line is an accounting framework that measures a business's success not just by financial profit, but also by its social responsibility and environmental impact, focusing on three 'P's: profit, planet, and people.

What does the speaker criticize about traditional economic measures like GDP?

The speaker criticizes the overemphasis on GDP, arguing that it fails to account for the environmental and social costs of economic growth. The example of cutting a tree to increase GDP is used to show the disconnect between economic success and sustainability.

What is the relationship between economic growth and social development, according to the speaker?

Economic growth should not be an end in itself. It must also promote social cohesion through equitable wealth distribution, and support essential systems like healthcare, education, and environmental sustainability.

What does the speaker suggest about the role of businesses in society?

The speaker suggests that businesses should not just focus on profits but also take responsibility for their social and environmental impacts. They should contribute to good governance, innovation, and foster positive relationships with employees and communities.

What is the challenge of implementing the triple bottom line approach?

The challenge lies in the difficulty of changing established practices, as governments and businesses are used to evaluating growth purely in financial terms. Adding social and environmental considerations complicates the process, but is necessary for long-term sustainability.

How can governments support businesses in adopting the triple bottom line?

Governments can support businesses by creating frameworks and legislation that encourage social responsibility while still allowing businesses to thrive. This includes policies that protect citizens and the environment without stifling business potential.

What does the speaker propose as a solution for mandatory sustainability initiatives?

The speaker suggests that while mandatory sustainability policies may be far from immediate reality, raising awareness and shifting the ethical narrative in favor of sustainability will eventually encourage businesses and governments to adopt the triple bottom line approach voluntarily.