Despite the fact that Alcoa is a big industrial company, it is one of the few to implement a triple bottom line evaluation in its decision-making process.
Alcoa analyzes financial profit, environmental aspects and social factors as equally critical in defining project goals and decisions. The company systematically evaluates all capital projects and operational improvements against this so-called HIP (Human Impact + Profit) framework.
For years the spent lining of aluminum smelting pots was regarded industrial waste. Alcoa looked at this “waste” in a different way, though, and developed the ability to turn the smelting pot linings, which include carbon, into a raw material that can be used in other industries.
In this way Alcoa has literally turned trash into cash, creating a new revenue stream while reducing its landfill waste by 50%.
Get monthly Successful Social Entrepreneurship Report by Matthew Alberto in your inboxWant to Learn More About Social Entrepreneurship?
Learn from successful social entrepreneurs.
Click here to be a member of Matthew's Social Entrepreneurship Series now!