IFVI launches environmental value factors and methodologies spanning Air Pollution, Land Use, Waste, and Water Pollution.
BOSTON, Oct. 15, 2024 /PRNewswire-PRWeb/ -- The International Foundation for Valuing Impacts (IFVI) launches the Interim Methodologies, a suite of new impact accounting resources that enable companies and investors to measure and value in monetary terms the most significant environmental impacts. These resources span four environmental categories – air pollution, land use and conversion, waste, and water pollution; and cover more than 430 different types of impacts, tailored for the unique contexts of over 268 countries and regions.
Building on the frameworks and protocols of existing standard setters, IFVI is developing the next level of sustainability information – the monetary valuation of impacts, also called impact accounting. To drive adoption of impact accounting and meet market needs as soon as possible, IFVI is making the Interim Methodologies available for use prior to completing its methodology oversight process.
For the first time, investors that have channeled trillions into ESG investments will be able to rely on robust data to measure and compare in monetary terms the impacts created by companies.
The resources include:
- Global Value Factor Database: The near 100,000 value factors included in the interim and official environmental methodologies are presented together in this database for ease of use.
- Interim Methodologies: Overviews of the topic, its impacts, and how to apply the value factors to support users in preparing impact accounts for each of the topics.
- Interim Models: Spreadsheets outlining the detailed formulas and data inputs used to calculate the value factors, presented for transparency and for future revision and expansion.
- Interim Technical Manuals: Detailed guides of how to understand, apply, and expand the model used to apply the methodology for each topic.
Learn more at: https://ifvi.org/methodology/environmental-topic-methodology/interim-methodologies/
T. Robert Zochowski, President & CEO of IFVI said:
"The work that we have accomplished has eliminated a significant barrier to impact accounting – lack of open access to impact accounting methodology and value factors. We are closer than ever to a just and sustainable global economy based on the full contribution of business to people and the planet, built upon the practice of impact accounting to promote decision-making based on risk, return, and impact."
George Serafeim, Charles M. Williams Professor of Business Administration at Harvard Business School said:
"I'm very excited about the work that IFVI has accomplished over the past two years, creating standard methodologies that expand on the initial work of the Impact-Weighted Accounts Project and allow for different data to be connected to each other. There is already a lot of impact data that exists. The issue is how we connect that data and gain insights. That is the value of impact accounting and why this development serves as a monumental achievement."
Rt. Honorable Nick Hurd, Chair of GSG Impact and the Impact Task Force said:
"The destination we must reach is a world in which companies and governments account for their impact in a meaningful way by putting a monetary value on impact and building it into financial statements so that climate and nature are on the balance sheet."
Media Contact
Beelan Yonas, International Foundation for Valuing Impacts (IFVI), 1 703-999-0699, [email protected]
SOURCE International Foundation for Valuing Impacts (IFVI)
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