Sustainability Report 2006/07A triple bottom line approach
In 2006/07, we introduced triple bottom line guidelines to help achieve our sustainability goals and improve our planning and delivery of our capital expenditure program, which will be in excess of $5 billion over the next three years. With such a significant program, it will be critical to ensure we consider social, environmental and economic issues in the construction of new infrastructure and the operation of existing assets.
The guidelines help our business assess projects for positive and negative effects on the community and the environment, review alternative solutions, and incorporate environmental and social benefits and costs in investment decisions.
An example where the guidelines were used was to determine the optimal water treatment method for Tarago Reservoir when it is reconnected to the Melbourne supply system in 2009. Seven treatment options were evaluated and assessed, and a recommendation made based on the best all-round performance against critical criteria involving environmental, social and economic effects.
The guidelines were developed in consultation with the Department of Sustainability and Environment, the Department of Treasury and Finance and the retail water businesses.