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Original article: Burgess COMMENTARY Peter Burgess | ||
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Agents of Impact Call No.31: Impact Measurement & Management for the SDGs
1 TICKET SENT TO peterbnyc@gmail.com DATE: Tue, Sep 28, 2021 1:00 PM - 2:00 PM EDT ----------------------------------- Accounting for impact, Impact 3.0, decarbonizing industry, off-grid energy access, banking Pakistan’s workers, sustainable insulation, Black geekdom ImpactAlpha editor@impactalpha.com via gmail.mcsv.net Inbox 8:14 AM (1 hour ago) to me The Brief: September 27, 2021 Greetings, Agents of Impact! Welcome to The Brief. Please enjoy this complimentary edition of The Brief. ImpactAlpha's industry-leading newsletter will be brought to you by Morgan Stanley throughout September. Like what you’re reading? Make it a habit. Subscribe today – and take $100 off an annual subscription. 👏 Last chance to RSVP: Optimizing for Impact. Get up to speed on impact measurement and management in a hands-on workshop led by Duke University’s Cathy Clark and special teaching assistants Beth Bafford of Calvert Impact Capital and Courageous Capital’s Laurie Spengler. Join Agents of Impact Call No. 31, tomorrow, Sept. 28 at 10am PT / 1pm ET / 6pm London. Agent of Impact. “I love that I get to support young professionals as they are arming themselves with new skills and deciding where in the world to aim them,” Clark tells ImpactAlpha in this Agents of Impact profile.Featured: Policy Corner Global standards for sustainability accounting must be holistic and inclusive. The International Financial Reporting Standards Foundation sets financial reporting and accounting standards for companies in 166 jurisdictions worldwide. Now, it’s getting ready to set global sustainability standards as well. At the COP26 global climate summit in Glasgow in November, IFRS is expected to launch an International Sustainability Standards Board, and its first-ever roadmap towards sustainability reporting. “It will mark a historic milestone,” writes Krisztina Tora of the Global Steering Group for Impact Investment, which represents national advisory boards from 33 countries. Currently, investors and corporations face an alphabet soup of at least a dozen widely used sustainability reporting standards, from the Task Force on Climate-Related Financial Disclosures, or TCFD, to the Sustainable Finance Reporting and Disclosure, or SFDR, in Europe. The new Sustainability Standards, Tora says, “will finally make it possible for investors and stakeholders to consistently account for and compare the positive and negative impacts of investments and businesses on people and the planet.” Impact 3.0. The GSG Global Impact Summit from Oct. 6-8 will take up the future of impact investing. “In our movement, impact has meant the intention to generate positive social and environmental impact alongside financial returns,” the GSG’s Cliff Prior writes in a companion post. New developments are positioning impact as a tool for measuring outcomes, not just intentions. “The result could be impact considerations across every investment decision and every company decision,” Prior says. “This is Impact 3.0 and it’s already coming over the horizon.” What’s next. Dynamic materiality. The IFRS’s new Sustainability Standards broaden the definition of materiality to include actions that affect enterprise value-creation and destruction, not just profits. They also require investors and businesses to consider medium and long-term impact alongside short-term. “This is incredibly important as sustainability impacts may not manifest for many years,” Tora says. Inclusive standards. The proposed governance of the new International Sustainability Standards Board skews towards wealthy economies; the African continent is underrepresented. “We think this is unacceptable,” writes Tora. IFRS standards represent the de facto global language of financial reporting. “It will only be through the efforts of local partners and their work with governments that the sustainability standards become meaningful in all contexts.” --------------------------------------- Keep reading, “Global standards for sustainability accounting must be holistic and inclusive,” by GSG’s Krisztina Tora on ImpactAlpha.
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