Profit is the difference between the total revenue and total expenses of a business. That’s the classical idea. It is the amount of money a business has made after subtracting all of its expenses. But if you think wider, there’s more: profit for the planet encourages businesses to use their profits in a different way.
This requires a new way of thinking: Integrated Thinking. Integrated Thinking broadens economic values. That also requires a new way of training for business and accountant students. It encourages businesses to invest their profits in activities that promote sustainability, such as reducing their carbon footprint, conserving energy and water, and investing in renewable energy sources. It also encourages businesses to invest in projects that benefit local communities, such as supporting local farmers, providing job training, and investing in education.
Because in the end: What is profit? A shareholder would say dividend. A consumer would say more spending space and increasing purchasing power. A classical economist would say economic growth. But what place does biodiversity get in the annual figures? And under which heading does global warming fall?
Societal challenges such as climate change, loss of diversity and geopolitical tensions mean that more is required than just financial gain. Classical economic growth makes way for other values.