Triple Bottom Line Framework

The Triple Bottom Line dimensions are also referred to as Ps. The 3ps are people, profits and planet. The 3Ps measures the social, financial and environmental performance of a company within a given period. Normally, the main company objective is to focus on revenues. This study describes TBL framework and identifies the framework used by Telstra Limited Company. It’s only when companies measure their environmental and social responsibilities that will we have the organizations being socially and environmentally responsible. At the turn of the century, TBL enjoyed some success in fair trade, climate change and corporate social responsibility. After a decade of businesses focusing on cost-cutting initiatives, companies are now transferring the services and production of products to countries with cheap labour thereby avoiding environmental and social responsibility.

Many western countries are picking this trend of moving their production to low production cost countries. This has resulted in the destruction of the Amazon basin, human labour exploitation and excessive use of hydrocarbons. GRI reporting follows certain guidelines provided by Global Sustainability Standards Board (Reinecke, 2012, pg. The reports are dedicated for the public to learn about a company more. Each year, Telstra produces sustainability report in accordance with the GRI guidelines. The GRI indicators and aspects are reported in the company’s annual financial report in hard copy or soft copy on the website. The GRI index that is available in the company’s report has a full list of sufficient indicators, with the external and internal scope and boundaries, and the company’s’ alignment with the UN Global Compact.

Telstra is one of the founding members of the National Road Safety Partnership Program. The company also offers training programs and awareness to improve the driver safety behaviour. Their safety program was rewarded in 2016 when they became the runners-up for Proactive Employer Award during the Comcare’s Work Safety and Health Awards. The company safety programs have Early Interventions Injury claims reducing from 177 to 166 in 2017. The HSE assist helps to increase the mobility in hazard and injury responses. The company maintains a highly conservative tax risk image according to the Tax Risk Management and Assurance Policy. All business transactions which are made are based on the available commercial situations, and the company does not take business positions based on tax policies.

Telstra is committed to ensuring the total transparency and openness of all their dealings to the relevant authorities. It undertakes the up to date review of the tax risks on its all material transactions. It is committed to ensuring continuous development of tax compliance regulations and systems, practices and all the processes. The Indigenous Workforce Programs provides opportunities for the indigenous people in Australia. Telstra projects for the environment This entails the environmental sustainability activities. A TBL company makes an effort to ensure the environment and the natural order is maintained and restored if necessary. Such efforts include incurring costs to ensure the release of biodegradable waste. Environmental sustainability projects have proven to be highly profitable in the long run. Telstra is proactive in waste management policies through the application of the correct procurement strategies.