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Andrew Savitz at IBS

Sustainability expert and noted author, Andrew Savitz, spoke at IBS about doing business in the age of accountability

February 6, 2008

Andrew Savitz, author of "The Triple Bottom Line" (Jossey-Bass, 2006) and a former partner with PricewaterhouseCoopers shared his perspective on how companies can achieve financial success while simultaneously integrating the needs of society into their business processes. His lecture pointed out the importance of companies finding their 'sweet spot' between achieving economic success and societal benefits.

His book refers to the triple bottom line as a "balanced scorecard that captures in numbers and words the degree to which any company is or is not creating value for its shareholders and for society." The three elements of the triple bottom line are: economic, environmental and social.

Savitz cited examples from leading companies focused on sustainability, including Toyota, General Electric, Johnson & Johnson and how these firms are "turning responsibility into opportunity." He explains "companies that aggressively look at business and society will do better financially, will build a stronger reputation, and will benefit from regulatory standpoint."

Savitz also presented data which showed that firms which not only focus on profits, but also on sustainability, are outperforming their competitors. A stock index which captures firms that have a focus on sustainability, the Dow Jones Sustainability Index, has historically outperformed the general market indices he explained.

This speaking engagement was co-sponsored by Net Impact.