The standard that uses economic, environmental, and social performance indicators that are based on GRI standards is called the: A. triple bottom line. B. social audit. C. business model. D. value chain

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Business

Selina Dean

5 September, 06:48

The standard that uses economic, environmental, and social performance indicators that are based on GRI standards is called the: A. triple bottom line. B. social audit. C. business model. D. value chain

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Boston Stein · Answer 1

The standard that uses economic, environmental, and social performance indicators that are based on GRI standards is called the Triple Bottom Line, Option A.

Explanation:

The triple bottom line measures the environmental, financial and social performance of a company over a period of time. It is considered one of the most accepted method of CSR as a variety of stakeholders are satisfied with this approach. The main aim of triple bottom line is to impact the operations of a firm by making the non-financial measures added to traditional financial results.

Some of the economic indicators in triple bottom line (which tell the performance of a firm) are the net revenues and taxes paid.