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18.09.2024 08:29

Leading impact valuation providers team up to democratize access to Value Factors

Katja Wies Kommunikation
WifOR

    GIST Impact and WifOR Institute are launching a new framework to democratize access
    to the information needed to make impact accounting a reality.

    Two of the leading impact valuation methodology providers have aligned on a common
    framework of impacts to address a critical challenge in the sustainability space:
    determining what to value, and how – namely, what value factors to use, with which
    stakeholders, and in what context. By offering a common framework developed
    specifically for the corporate sector, the collaboration aims to make it easy for
    businesses to understand valuation and perform these essential calculations.

    The comprehensive framework, covering all four capitals (natural, human, social, and
    produced), is user-friendly and applicable to all major industries and regions. The
    publicly available value factors, in turn, enable a science-based calculation of business
    impacts in monetary terms.

    The framework and underlying value factors provide businesses, particularly small and
    medium-sized enterprises (SMEs), with a valuable resource to assess their impacts on
    the environment, society, and the economy. By offering a set of freely available value
    factors for 25 countries, this initiative aims to encourage and support businesses
    worldwide in understanding and contextualizing their positive and negative impacts,
    providing location-specific and science-based data and insights to guide analysis and
    decisions.

    This is one of many efforts around the world that are coming together through the
    Capitals Coalition – a global collaboration redefining value to transform decision-
    making. The Capitals Coalition has curated a global Value Commission, which will be
    launching a ‘Governance for Valuation’ document later this month, setting clear
    transparency and confidence criteria on how impact is to be defined and stated. As
    accounting for value becomes a necessity for businesses and financial institutions, we
    are expecting more announcements from the Commissioners and their partners.
    This movement towards convergence and transparency in the impact space is in strong
    contrast to the fragmented landscape of traditional ESG scores and ratings: the Value
    Factors collaboration is fully aligned with organizations like the International
    Foundation for Valuing Impacts (IFVI) and the Value Balancing Alliance (VBA), which are
    developing a comprehensive, independently governed, public good impact accounting
    methodology involving representatives from the Capitals Coalition, GIST Impact, and
    WifOR Institute on its Valuation and Technical Practitioner Committee. Other
    developers, users, and stakeholders are invited to collaborate with the Capitals
    Coalition and the Value Commission in creating a more transparent market and
    standardizing the global use and application of value factors.

    Quotes
    "The leading organizations in the Coalition network, like GIST Impact and WifOR Institute,
    are actively stepping forward with solutions that will advance opportunities to account
    for what matters to us all. There will be more to come."
    Mark Gough, CEO Capitals Coalition

    "I am particularly pleased that GIST Impact has collaborated with WifOR Institute, two
    organizations who would otherwise be seen as competitors, to help interested
    companies, especially SMEs, by publishing our agreed common Value Framework and a
    sample set of Value Factors."
    Pavan Sukhdev, CEO GIST Impact

    "Decision-makers worldwide must balance social, environmental, and economic factors
    – for which reliable and transparent data is key. Our joint initiative is a step toward
    achieving this transparency to promote responsible action."
    Dr. Richard Scholz, Head of Impact Analysis WifOR Institute

    "Transparency is essential for the growth and credibility of impact accounting. Aligned
    with its ongoing development of independently governed, credible, public good impact
    accounting methodologies, IFVI applauds the Capitals Coalition, GIST Impact, and
    WifOR Institute on their leadership in providing increased transparency and looks
    forward to continued collaboration."
    Dan Osusky, Chief Research Officer International Foundation for Valuing Impacts

    "I extend my congratulations to GIST Impact and WifOR Institute for this significant
    milestone! Impact accounting is an evolving and dynamic field. Enhancing transparency
    and making value factors publicly accessible, while inviting others to join in, is crucial
    for building credibility and driving adoption. This comprehensive range of value factors
    will empower businesses to make more informed decisions that balance financial,
    natural, social, and human capital. For standardized and comparable disclosures, we
    place our trust in IFVI to adopt the best available methodologies."
    Christian Heller, CEO Value Balancing Alliance

    Notes to editors
    ------------------------
    Value Factor
    A value factor is an expression of the relative importance, worth or usefulness of changes
    in natural, human, social, and economic or produced capitals to people.

    Value Commission
    The Value Commission brings together over 30 expert Commissioners from across the
    world to drive transparency and accountability for application and use of value factors
    and valuations by organizations and businesses.

    Capitals Coalition
    The Capitals Coalition is a global collaboration redefining value to transform decision
    making. It sits at the heart of an extensive global network that has united to advance the
    capitals approach to decision-making.

    GIST Impact
    GIST Impact is a leading impact data and analytics provider and has been measuring
    and valuing corporate impacts for more than 16 years. With a team of 100+ scientists,
    engineers, data scientists and environmental economists, GIST Impact works with the
    world’s largest companies and investors, offering market-leading impact platforms and
    impact datasets on over 15,000 companies.

    WifOR Institute
    WifOR is an independent economic research institute, founded in 2009 as a spin-off
    from the Technical University of Darmstadt, Germany. As experts in macroeconomic
    analysis, its research focuses on labor markets, sustainability, and health. Through its
    studies, WifOR’s mission is to enable data-based solutions to labor market challenges,
    set global standards in Impact Measurement, and highlight the value of health
    investments worldwide.

    International Foundation for Valuing Impacts
    The International Foundation for Valuing Impacts (IFVI) is an independent nonprofit
    bridging the gap between financial accounting and impact measurement. At the core of
    IFVI’s mission and vision is the need for a comprehensive, credible, and open access
    impact accounting methodology that accounts for a company’s full contribution to
    society. In 2022, IFVI and the Value Balancing Alliance (VBA) established a partnership
    to develop this methodology as well as to advocate for adoption globally.

    Value Balancing Alliance
    The Value Balancing Alliance e.V. is an alliance of multinational companies with the
    common goal to develop a standardized methodology to ensure greater sustainability
    and transparency in business. As a business driven, member lead organization, the
    Alliance translates environmental and social impacts into comparable financial data,
    with the ambition of changing the way company performance is measured and valued
    so as to enable decision makers to act consciously.


    Wissenschaftliche Ansprechpartner:

    Dr. Richard Scholz
    Head of Impact Analysis
    richard.scholz@wifor.com


    Weitere Informationen:

    http://Access the value factors here: https://www.wifor.com/en/impact-valuation-factors/


    Bilder

    Dr. Richard Scholz
    Dr. Richard Scholz

    WifOR Institute

    Pavan Sukhdev
    Pavan Sukhdev

    GIST Impact


    Merkmale dieser Pressemitteilung:
    Journalisten
    Umwelt / Ökologie, Wirtschaft
    überregional
    Forschungs- / Wissenstransfer, Kooperationen
    Englisch


     

    Dr. Richard Scholz


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    Pavan Sukhdev


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