Article ID: | iaor20081866 |
Country: | United Kingdom |
Volume: | 45 |
Issue: | 5 |
Start Page Number: | 1063 |
End Page Number: | 1088 |
Publication Date: | Jan 2007 |
Journal: | International Journal of Production Research |
Authors: | Lin L., Wang L. |
Keywords: | decision theory: multiple criteria |
Since the 1970s the purpose of the environmental protection campaign has been to try to halt the gradual deterioration of our natural habitat. Reactive and pro-active strategies were developed to incorporate environmental and social concerns into economic development beyond regulatory compliance. In this research, we present a methodology to support the new era of sustainable development for all the three areas, which implements the triple bottom line (TBL) accounting mechanism by using quantitative models. A broad TBL framework is developed to track and categorize sustainability information at the corporate level through a sustainability index system. A ‘sustainability optimization’ model incorporates environmental and social costs and values into economic activities to support the decisions of the management. This methodology can help decision makers to make ‘green’ plans, and provide strategic directions for future development.