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Triple Bottom Lines And Sustainable Construction Company

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Question:

Discuss about the Triple Bottom Lines and Sustainable Construction.
 
 

Answer:

Introduction

The sustainability of the key measures in the construction industry is approved to go beyond the financial aspects and therefore able to include the social and environmental factors. In the design of the key factors which need to be addressed to achieve the required results, the company’s goals are the primary tool which is able to lead to the kind of factors which need to be looked at. At the construction industry, the companies are challenged to address different challenges and issues which are able to fall on the three categories of the TBL (In Bals & In Tate, 2016). The proper address to these issues is able to lead to the sustainability of the companies and ensuring that the companies achieve their ultimate business goals. Moreover, the TBL in most cases are as well affected by the existing rules a challenge which many companies find as they align their business world with the legal requirement (Laszlo, 2010). The design of the company’s goals is required to comply with the legal requirements and this helps to generate a better sustainability. In addition, the TBL issues are able to ensure that the different goals, which are designed to achieve the developments, are adhered to at any given moment (Montoya, 2010). In addition, the TBL are seen to be key elements in the operation of the companies to ensure that they are able to achieve their development agendas. In addition, the results of the company’s operations are usually able to define the compliance with the TBL and Global Reporting Initiatives (In Leal, 2015). The sustainable developments are able to enhance the compliance with the legal requirements. In addition, the sustainable developments are able to enhance the lives of the different people who are directly connected with the company or even in directly connected with the company operations. The sustainability aspect is able to enhance the company to meet its daily need and unable to disrupt the future generations and their needs as well (Montoya, 2010). Moreover, the achievement of the accountability and transparency is achieved through the use of TBL and GRI initiatives.

 

Discussion of reporting issues

In construction industry, the use of technology is a key measure, which is able to enhance the use of the TBL and GRI in order to achieve the required business goals. Greenworld Construction Company is a construction company which engages of real estates and road network construction. The company has its capital in London UK and is able to enhance and coordinate its whole operation from the capital. The company is able to engage on the use of the different construction materials to enhance its operations. The company is able to look at the enhancement of the environment conservations, financial sustainability and the social aspects (In Bals & In Tate, 2016). The company looks at the both benefits on its own operation to itself and to the other parties. The major parties include the shareholders, stakeholder and the world surrounding its operations.

TBL and GRI reporting parameters and exercise: Policy investment

One of the section in the TBL, which Greenworld looks to address to ensure they address properly, is the policy investment. The major areas, which the company looks, are to ensure that the external factors are well addressed to ensure that the company achieved the different profitable goals. The company is able to report on all the policies which are directed to ensure the proper investments are met within its lines of operation. The analysis of the policy of any area of investment is usually looked at any proper analysis is usually done to attain the profitability. In the address of the issue, the company looks at the protection of the environment to ensure that the company is able to abide by the relevant rules in their investment and the environmental policies. The company looks in addition to ensure that the projects which they works on are able to address the social aspects of the residents in the areas which they are working. This is enhanced through proper analysis of the benefits which the residents will be able to achieve through the project (In Bals & In Tate, 2016). The advantages of the project are listed and are reported to ensure that the company is able to attain its goals through CSR. The reporting mechanism of the questionnaires is usually used as part of the analysis of the policy investment advantages to the residents in different areas. In addition, the analysis on the policy investment is able to ensure that the company is able to achieve its financial aspects and profitability.

 

Completeness principle

Secondly, another issue, which has to be addressed in the company in connection with the TBL and GRI, is the completeness principle of the commenced projects. In relation to this idea, the company has to ensure that the company is able to deliver on the projects, which they have identified to carry out (Chaltegger, Bennett & Burritt, 2006). This helps to analyses the benefits on the environment are achieved. On the completion of the project, the company ensures that it has to carry out the environmental impact and therefore look to address it and ensure that correct measures to ensure the conservation is maintained. Moreover, the completeness principle is able to ensure that the social advantage to the residents is achieved. Greenworld company is able to look and analyze the advantages which the company offers to the residents when the complete implementation of the project is achieved. In addition, the company has to ensure that the completeness of the projects is usually achieved. This ensures that the financial aspect of the company is achieved (Shah, 2014). The company is able to enhance the analysis of ensuring that the project meets the different aspects and ensures that the complete projects are paid by the clients and ensure the achievement of the financial aspects of the company. The economic benefit is the major advantage which the company gains through the completeness of the projects. In addition, the company always carries out a proper analysis on the completeness mechanism which the company has to use to ensure that they achieve the financial benefit from the projects.

Quality of materials and work

In addition, the quality of the materials is another key factor in the TBL and GRI which need to be addressed. The analysis of the quality of the materials at the site is able to ensure that the different aspects of the GRI and TBL such as the social aspects, environmental aspects and economical aspects are achieved. In the address of the issue, Greenworld Company is able to ensure that the materials are able to meet the proper quality which enhances the quality of the property which the company is carrying out. The proper quality is able to maintain the environmental effectiveness and therefore able to preserve the environment. Moreover, the quality of the materials is able that the company gains the value of the money on the project implementation (Chaltegger, Bennett & Burritt, 2006). In addition, this aspect ensures that the company is able to carry out quality projects and therefore enhancing its sustainability through the gaining of the trust of the clients. In addition, the address of the material quality is able to ensure that the company uses materials which are environmentally friendly and therefore enhance its utilization. The material quality is able to enhance the implementation of the aspects of the TBL and GRI. This ensures that the company is able to achieve the sustainability in the construction industry.

 

Management involvement and control

Moreover, another key issue, which the Greenworld Company needs to address to achieve the desired deliverables, is the management involvement through proper governance and commitments. The management approach and involvements in the company is able to make the key decision on all aspects. Their involvement is able to make the proper decisions which will enhance the achievement of the key aspects and goals of the company. First, the management involvement is able to look at the economical nature of the projects which the company is undertaking. This ensures that the reporting of the profitability of the company is done in a good way and the achievement of the financial aspects of the company is achieved. In addition, the management must ensure that the environmental and social factors from the projects are well addressed. The addressing must ensure that the environmental benefits and social advantages are achieved in the different aspects of the company operations (Yates, 2003). The analysis of the social aspects by the management ensures that CSR activities are well funded and the management reports are well addressed to achieve the economical and brand name for the company (Laszlo, 2011). The brand name, which is achieved through the CSR activities, is able to enhance the company operations and therefore lead to financial advantage to the company. In terms of the social benefits, the management is able to enhance the social benefits to the residents through the CSR activities. The management involvement is therefore able to enhance the sustainability of the company activities within the operational areas.

Data management

Another key reporting parameter, which Greenworld has to address, is the data management. The data is a key element, which the company has to coordinate to ensure that they receive the proper information on what they are doing and need to do in order to achieve the relevant targets. The data management is able to ensure that the company keeps up with the relevant trends in developments and technologies (Laszlo, 2013). Moreover, the key data has to ensure that the environmental changes are addressed and that the key measures are taken in each project to conserve the environment. In addition, the data management has to ensure that the key social issues are well looked at and then addressed (Bergman, 2012). The social aspects of the data management have to ensure that the proper management of the social factors is addressed. The CSR projects have to be identified through the data management issues and therefore their impact be analyzed well. Lastly, the data management has to achieve the economic benefits of the different projects (Pipelines (Conference) et al., 2015). The key element in data management must ensure that the projects are able to achieve the economic benefits for the organization. The data management has top address the social, economic and financial sustainability for the Greenworld and ensures that the company achieves its own goals.

Management policies and responsibilities  

Lastly, the policies and responsibilities management and analysis is another key are which Greenworld need to address to achieve the sustainability goals. The different management personnel have different key roles which they have to undertake. The analysis and allocation of duties and responsibilities must be addressed to ensure that the repetition of duties allocation does not happen (Yates, 2003). The policies must be developed in a good manner to ensure that the company’s goals are achieved. In addition, the policies are able to define the commitment of the Greenworld Company concerning its achievement of the social, environmental and financial aspects at different level (Bergman, 2012). The responsibilities of the different personnel are able to define the way the company will accomplish the different aspects of the company’s goals. Moreover, the different responsibilities allocation ensures that the economic aspects of the company will be achieved. The goals and responsibilities are able to defined the activities completion timely. Moreover, the responsibilities and policies are designed to ensure the achievement of the energy conservation and resources conservation which enhances environmental conservation.

 

Challenges and issues in reporting sustainability

One of the major key issue in the reporting of sustainability is the data management in the organization. Proper management resources, which are able to maintain the different issues in data entering each day, are required. Attaining the proper system, which is able to attain the resources and data entry and exit, is a challenge. The proper system requirement is a challenge due to the cost parameters and these results to be a challenge for the company to attain these sustainability goals (Yates, 2003). In addition, due to the biodiversity of the data, the management of the different issues coming into the company becomes a challenge. In every aspect, the concentration of the data to come up with a key deliverable is usually a challenge.

In addition, the different ideas and time for concentrating the information is another key issue and challenge in Greenworld. The different personnel have different views on achieving the sustainability, and therefore it takes time to come up with one deliverable (Pipelines (Conference) et al., 2015). This is able to increase the time for the achievement of the sustainable development within the organization. The changes of the ideas and technology with time are able to lead to the change of the sustainability strategies. This is able to affect the sustainable operation for the company and therefore affect the activities of the company in different ways.

In addition, the social aspects are able to change and keeping every social aspect addressed and all the residents in a location satisfied is not easy. This offers a key challenge for the when carrying out the projects and the company is prone to face oppositions. For instance, in the address of the proper employment strategies, many people may feel that they are left out regardless to the number employed from the society (Bergman, 2012). The social forces are therefore able to affect the operation of the company and attaining of the relevant goals for proper sustainability. This is able to affect the company in financial aspect.

In addition, the sustainability through the TBL and GRI is expensive and the company is able to experience the financial pinch when addressing the different issues. Therefore, the financial aspect to make sure the company attains the TBL and GRI aspects is a burden of the company (International Conference on Sustainable Infrastruture et al., 2014). In different occasion, the company derives zero financial benefits on the address of these aspects.

Conclusion

In conclusion, the financial, social and environmental aspects are key in the address of the GRI and TBL aspects for any company in the construction company. The enhancement and achievement of these factors is able to lead to sustainability of the company. Different issues are able to arise and the initiatives have to be taken to address these issues in the TBL aspects. The brand name and proper organizational work elements are achieved when these issues are addressed.

 

References

Bergman, D. (2012). Sustainable design: A critical guide. New York: Princeton Architectural Press. 

Chaltegger, S., Bennett, M., & Burritt, R. (2006). Sustainability accounting and reporting. Dordrecht: Springer. 

In Bals, L., & In Tate, W. (2016). Implementing triple bottom line sustainability into global supply chains.

In Leal, F. W. (2015). Transformative approaches to sustainable development at universities: Working across disciplines.

International Conference on Sustainable Infrastruture, In Crittenden, J. C., In Hendrickson, C. T., In Wallace, W. A., American Society of Civil Engineers., & American Society of Civil Engineers,. (2014). ICSI 2014: Creating infrastructure for a sustainable world : proceedings of the 2014 International Conference on Sustainable Infrastructure, November 6-8, 2014, Long Beach, California.

Laszlo, C. (2010). Encyclopedia of sustainability: Volume 2. Great Barrington, Mass: Berkshire.

Laszlo, C. (2011). The business of sustainability. Great Barrington, Mass: Berkshire Pub. Group.

Laszlo, C. (2013). Business strategies and management for sustainability.

Montoya, M. (2010). Green building fundamentals: A practical guide to understanding and applying fundamental sustainable construction practices and the LEED green building rating system. Upper Saddle River, N.J: Prentice Hall.

Pipelines (Conference), In Sever, V. F., In Osborne, L., American Society of Civil Engineers., & American Society of Civil Engineers,. (2015). Pipelines 2015: Recent advances in underground pipeline engineering and construction : proceedings of the Pipelines 2015 Conference, August 23-26, 2015, Baltimore, Maryland. 

SHAH, S. H. A. S. H. A. N. K. (2014). Soulful corporations: A values-based perspective on corporate social responsibility. Heidelberg: Springer.

Yates, A. (2003). Sustainable buildings: Benefits for investors and developers. Garston, Watford, England: Building Research Establishment.

Yates, A. (2003). Sustainable buildings: Benefits for occupiers. Garston, Watford, England: Building Research Establishment.

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