FWR News
Holistic sustainable development requires solutions for future development that address economic and social change while enabling remediation of landscape and ecosystem protection. Preservation of the aesthetic and environmental character of an area is vital, as it is valued highly by residents and it is critical to the ongoing resilience of the community. FWR Group have been utilising a Triple Bottom Line (TBL) Analysis framework in the development of the Molonglo District sustainability strategy project commissioned by the Land Development Agency, Canberra.
The aim of TBL Analysis is to portray an array of anticipated environmental, social and economic opportunities and risks, and identify direct and indirect sustainability and climate change impacts for specific regions. TBL Analysis is designed ‘to identify the benefits and costs (to society) of specific options, value these benefits and costs (in financial terms), tabulate changes in these values over time, and then compare alternatives by their net benefit'.
Examining the Cost-benefit of development options aids the triple bottom line analysis, and builds on the well developed analytical approach of ‘generalised input-output analysis'. The CSIRO 2005 Report, Balancing Act: A triple-bottom-line analysis of the Australian economy is utilised in the FWR TBL framework to provide a numerate triple bottom line account consistent with the Australian economy and covering three financial, three social and four environmental indicators.
FWR Group has identified TBL/Cost-Benefit Analysis into sustainable development in the development sector as a significant gap in the research and technical analysis into the impacts from increasing uptake in sustainable development approaches and inclusions. One leading industry body commented that ‘TBL/LCA of sustainability had been on their radar for some time but was still yet unaddressed'. FWR Group will be continuously developing our TBL Analysis Framework as further research is conducted and projects are commenced.
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