People, planet and profit: the return of the triple bottom line

This event is still taking place and will be held via a web-based video conferencing tool, further information on how to connect will be sent to registered participants.

Demographic transition, globalisation and digitisation have transformed lives, identities and outlooks. Reports point to the tremendous value equality brings to the workforce, debate and societies in general. However, these shifts have affected citizens and regions differently across Europe, resulting in areas rising inequality over the last three decades. Even in European countries that top equality charts, inequality remains a significant problem. In recent months, inequality has been particularly apparent with the advent of two key developments: the Covid-19 epidemic and the launch of the European Green Deal. Though different in nature, these events are both refocusing the need to consider our stance on inequality.

Coined in 1994 by John Elkington, the ‘triple bottom line’ states that taking account of people and the planet should not be overlooked to the benefit of chasing profit. As such providing access to welfare, tackling climate change and enabling economic development should thus each be regarded with equal importance. The outbreak of Covid-19 and the unveiling of the EU climate law both have the potential to reshape our societies and underline the importance of equality.

What can the EU do to counter the feeling of rising inequality? What measures could alleviate the burden put on already economically disadvantaged parts of society? What action should be taken to protect our economies from the current Covid-19 pandemic and climate emergency from further economic and societal shock?

This remote connection debate is part of Friends of Europe’s horizontal theme ’Ethics in the 21st century’ through which we take a renewed look at the ethical systems that guide our behaviour.

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PHOTO CREDIT: Jacek Dylag/Unsplash