What is correct about the popular idea of "Triple Bottom Line"?

The correct answer is This is the idea of generating social and environmental goods together with money profits by the corporate houses.

Key Points

• Triple Bottom Line (TBL) is an accounting framework that evaluates the performance of an organization in three dimensions: social, environmental, and economic.
• The TBL framework is used to measure the financial, social, and environmental performance of a company over time.
• The three dimensions of TBL are also referred to as the “three Ps”: People, Planet, and Profit.
• The TBL framework is adopted by some organizations to evaluate their performance from a broader perspective to create greater business value.
• The triple bottom line aims to measure the financial, social, and environmental performance of a company over time.
• TBL may result in retaining employees, increasing external investments, boosting sales from ESG-interested customers, and gaining long-term operational efficiencies.
• The TBL framework is used to evaluate the sustainability of an organization.
• The TBL framework is useful for companies that want to evaluate their performance from a broader perspective to create greater business value.
• The TBL framework is also useful for companies that want to positively impact the environment, society, or both, while also benefiting shareholders.
• The TBL framework is a method of combining a company’s social and environmental goals with its financial goals.
• Business leaders are increasingly realizing the power of sustainable business strategies in not only addressing the world’s most pressing challenges but also driving their firms’ success.