New initiative for sustainable value accounting for decision making
Nine organizations have joined forces and launched a joint initiative called The Value Accounting Network. It is a question of the sustainable value accounting, business value to a society and environment.
The main task of the new initiative is to promote more active acceptance of the value accounting in investment and management decisions. This requires close cooperation in order to develop a common understanding of what value accounting will be and how to apply its results in practice.
In the accompanying statement, participants define value accounting as “the collection, calibration and use information about the relative value that an organization creates, preserves or erodes for its for stakeholders, using common units. This information is then used when making decisions for a variety of purposes.”
It is worth mentioning that for some reason the participants do not include the International Valuation Standards Council (IVSC) and the recently established Value Reporting Foundation. But among the participants are: Economics of Mutuality, Gist, IDEEA Group, Impact Institute & Impact Economy Foundation, Rethinking Capital, S&P Global, Social Value International, Harvard Business School and Value Balancing Alliance.