Report on Triple Bottom Line for Woodside Petroleum

REPORT ON TRIPLE BOTTOM LINE FOR WOODSIDE
PETROLEUM

Table of Contents
Introduction......................................................................................................................................3
Overview of the Organization.........................................................................................................3
Triple Bottom Line Concept for Woodside Petroleum....................................................................3
Components of a Triple Bottom Line..............................................................................................4
Profit.............................................................................................................................................4
People...........................................................................................................................................5
Planet............................................................................................................................................6
Relation between the factors............................................................................................................7
Bearable.......................................................................................................................................7
Viable...........................................................................................................................................7
Equitable......................................................................................................................................7
Sustainable...................................................................................................................................7
Recommendations............................................................................................................................7
Conclusion.......................................................................................................................................8
Reference List..................................................................................................................................9

Introduction
In order to carry out any business in a successful manner, it is extremely important to have a
proper balance between all the factors that are affecting or likely to affect the business in terms
of expenses and income. One of the most important factors is the evaluation of Triple Bottom
Line that is considered a very significant parameter to describe the growth of an organization.
The Triple Bottom Line of any company is a concept that is used to measure the balance between
the Social Responsibility, Economic Worth and Impact on Environment of its operations. In this
particular report, the evaluation for Triple Bottom Line for a company named Woodside
Petroleum Limited has been done that shows the different factors that contribute towards the
growth in the economy of this company as well as maintain the optimum level of social and
environmental responsibilities.
Overview of the Organization
The Woodside Petroleum Limited is a petroleum based public company that was established in
1954 in a very small town of Victoria named Woodside. The company is currently directed by
Peter Coleman who happens to be the Chief Executive Officer of the organization and who
commands about 3000 employees that help generating about AUD 4.5 billion every year.
However, the profit earned by the firm is near about AUD 25 million every year. The
headquarters are located at Perth city of West Australia. The sole owner of this organization is
Royal Dutch Shell that currently holds approximately 13% shares of the company. The
organization deals with extraction of Oil and Natural Gases and also to transport them at various
locations. The main product that is refined at its plants is Petroleum based Liquefied Natural Gas
or LNG (Woodside.com.au, 2017).
Triple Bottom Line Concept for Woodside Petroleum
The Triple Bottom Line is a very widely used formula to calculate the degree of three very
common factors that are to be maintained by a company namely Economic Value, Social
Responsibility and Environmental Influence by the operations that are performed by the
company. According to McWilliams et al. (2016), the measure of Triple Bottom Line is done on
the profits that are earned by any organization. In addition to this, the main purpose of having the