Triple Bottom Line Approach

Our business plan goes beyond the traditional measures of profits, return on investment, and shareholder value to include environmental and social dimensions. This is called a Triple Bottom Line Approach (TBL).

P (Planet) Environmental elements 
Measurements of natural resources and reflect potential influences to its viability.

• Renewable resources 
• Reduce waste 
• Upcycle/ recycle 
• Scarcity of resources 
• Incorporate air and water quality
• Reducing energy consumption
• Natural resources
• Eliminate solid and toxic waste
• Minimise land use.

An example of related companies with an environmental focus are the sustainable fashion brands Refresh will stock. These are often called ‘Eco-Fashion’ and often operate in a ‘circular’ business model, with zero waste.

Environmental practices of eco-fashion include:

• Renewing, reusing and recycling of resources (water, energy, raw materials) along the pipeline;
• Use of organic and natural fibers (cotton, silk, hemp etc)
• Use of vegetable dyeing
• Vintage practices and second hand
• Green certifications
• Most sustainable fiber is linen. 80% of linen comes from France.
• Use of recycled fabrics.

Refresh focuses on this variable by:

• Stocking only environmentally friendly brands
• Only allowing rentals – increasing garment wear, slows consumption cycle, garment returns to use to be disposed of responsibly.
• Off-setting our carbon emmissions
• Partnership with Good On You for extensive knowledge of the brands we stocks supply chains.
• Events and campaigns centred around helping contribute to a more sustainable/less pollutive industry and planet.

P (Profit) 
Variables that deal with the bottom line and the flow of money.

• To repay workers, increase wages in future 
• Cover resources 
• Income or expenditures
• Taxes
• Business climate factors
• Employment
• Business diversity factors

All businesses focus on this in order to operate, however at Refresh through our partnership with Good On You we ensure that workers of our suppliers are also paid fairly.

P (People) 
Social variables refer to social dimensions of a community or region.

• Stakeholders 
• Customers 
• Suppliers
• Education
• Equity and access to social resources
• Health and well-being
• Quality of life
• Social capital.
  

Ethical fashion is an example of businesses with a focus on this variable. All of our stockists will also have a high good on you rating for people.

Methods for Ethical Fashion

• Social work with the ethnic minorities from disadvantaged or underdeveloped areas
• Traditional methods of production of particular areas or countries
• Compliance with the fair trade criteria: creating opportunities for economically disadvantaged producers, transparency and accountability, capacity building, promoting Fair Trade, payment of a fair price, gender equity, working conditions, trade relations

Source:

Rinaldi, Francesca. The Responsible Fashion Company: Integrating Ethics and Aesthetics in the Value. 2014.