To achieve the SDGs, companies need to maximize their positive impact on society. Currently, however, a comprehensive, standardized framework for measuring, reporting and steering on impact is lacking. Companies predominantly only report and steer on the financial value they create.
The Impact-Weighted Accounts Framework (IWAF) fills up this void as it guides organisations with quantifying and monetizing the impacts of an organization on social, human, natural, intellectual, manufactured and financial capital. With IWAF, the traditional P&L is transformed in an Integrated P&L providing insight in the broad value creation of an organization for all its stakeholders: employees, customers, the environment and the broader society.
Together with Harvard Business School, Singapore Management University, RSM Erasmus University, and Impact Institute, the Impact Economy Foundation have been working to develop this framework for companies. The IWAF improves integrated decision-making, supports the identification of new business models with a positive societal impact and contributes to compliance with reporting regulations.
The six documents that build the IWAF are now open for public consultation. We are looking for input from different stakeholders on how to improve our framework.
Whether you are an expert on the topic, or you would like to learn more and contribute to the development of the framework, read the methodology documents and provide your comments.
The public consultation is open until September 9th. Input will be used to further improve the IWAF.
Please join us in this journey towards the Impact Economy in which we create broad prosperity for all.
Watch the launch of the public consultation webinar here.