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Triple Bottom Line Accounting: Evaluation of Available Tools to Price Social and Environmental Costs/Benefits of Projects
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Description: | The
airport-specific definition of sustainability includes Economic Viability,
Operational Efficiency, Natural Resource Conservation, and Social
Responsibility (EONS). There is a lot of research and information available
to airports on the environmental components of sustainability, as well as
some on the operational and economic components, but fewer on the social
aspects of social sustainability. This knowledge gap can be partially
attributed to the lack of tools to understand the costs and benefits of
social sustainability initiatives. During the stakeholder engagement process,
there was emphasis on the need to address the social and economic aspects of
sustainability. Airports are seeking guidance on how to perform triple bottom
line accounting for sustainability initiatives, so that the economic and
social benefits and costs are as well understood as the environmental and
operational components. While there are some tools on the market to assist
airports develop a holistic cost accounting for these types of initiatives,
more guidance is needed particularly for airports with limited budgets. This
project would focus on expanding the social responsibility component of
sustainability strategy, monetizing the value of social and environmental
components to communicate the true triple-bottom line of a ROI assessments as
well as a synthesis of available tools.
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Objective: | The objective of
this idea is to develop a synthesis document describing the current state of
practice on triple bottom line accounting, with a focus on social
costs/benefits, and the methods and tools in practice.
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Sponsoring Committee: | AV030, Environmental Impacts of Aviation |
Date Posted: | 03/02/2021 |
Date Modified: | 03/10/2021 |
Index Terms: | Cost accounting, Benefit cost analysis, Social impacts, Environmental impacts, Airports, Sustainable development, |
Cosponsoring Committees: | |
Subjects |
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Aviation
Society
Finance
Environment
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