From purpose to impact - an investigation of the application of impact measurement and valuation methods for quantifying environmental and social impacts of businesses

Braig, Per ; Edinger-Schons, Laura Marie

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Document Type: Article
Year of publication: 2020
The title of a journal, publication series: Sustainable Production and Consumption
Volume: 23
Page range: 189-197
Place of publication: Amsterdam [u.a.]
Publishing house: Elsevier
ISSN: 2352-5509
Publication language: English
Institution: Business School > Sustainable Business (Edinger-Schons 2015-2022)
Subject: 330 Economics
Keywords (English): Impact Measurement and Valuation (IMV) ; Industry Self-Regulation ; Sustainability Accounting ; Social Impact ; Evidence-Based Sustainability Management ; Corporate Responsibility ; Expert Interviews
Abstract: Currently, a group of companies is developing new methods of Impact Measurement and Valuation (IMV) which may soon become accepted standards. This paper investigates the current status quo of the application of IMV approaches, defined as a set of tools and methodologies that enable companies to identify, measure, and manage their non-financial, i.e., social and environmental impacts. Specifically, the paper examines the motivation of companies to apply IMV, the extent of integration of IMV within internal processes, the challenges that companies face when applying IMV, and how IMV will potentially evolve in the near future. To do so, the authors conducted a total of 13 non-standardized, semi-structured expert interviews with representatives of companies as well as experts from consultancies, accounting and professional services, and organizations that work in the field of IMV. The findings of this research contribute to the existing literature by providing seminal insights into the current movement of industry alliances developing new standards of IMV. Despite their obvious promises, these new approaches are not without limitations and the authors take a critical look at the developments. The findings of this research also assist business professionals to understand the benefits and limitations of IMV and can support them in successfully implementing and evolving IMV within their own organizations.
Additional information: Online-Ressource

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