Integrated Thinking , Multi Capitalism, Value Redefinition, Enterprise – Integrated Stakeholder View , Context-Based, Impact Focused.
Many measurement and reporting standards and frameworks (ESG reporting, <IR> Integrated Reporting, GRI, SASB, CDSB, TFCD, r3.0, Future-Fit…) exist today. Many of these have their origin in the environmental sustainability area but have broadened to include social, economic, and environmental (triple bottom line) considerations. Almost all of the measurement and reporting frameworks have been focused more on reporting, than on measurement and they are most often used as a tool for business reputation and brand management instead of truly understanding the impact of an enterprise’s activities on its society, environment and economy. Many frameworks exist solely to provide guidance to more socially and environmentally oriented investors to support investment decisions.
We have been, and will continue to innovate in measurement and reporting standards, frameworks, methods, and tool development. As we innovate, divergence has occurred with a plethora of useful concepts, approaches, standards and frameworks. Tooling to support measurement and reporting standards and frameworks have not kept pace with standards and framework development. Existing and new innovations in standards, frameworks and tools have been created by a large variety of organizations and initiatives, all with good intentions. Many of these innovations look very promising to support measurement and reporting for flourishing enterprises. There is still more innovation to come, however, there is a sense of optimism that the pieces are coming together. Perhaps we are getting nearer to the start of convergence in the innovation process around the creation of real measurement and reporting solutions for flourishing enterprises.
As a flourish rebel, I have assessed and looked in detail at most of the measurement and reporting standards, frameworks and tools. For flourishing enterprises, I am aligning to the idea of integrative thinking from Integrated Reporting, to Future-Fit as a large part of the guidance for what a flourishing enterprise should be striving to become and what needs to be focused on. Their first release of the Future-Fit Calculator is also a good starting point to support reporting and some measurement. Also looking to how models and blueprints from r3.0 can be integrated with Future-Fit. r3.0 provides a lot of additional guidance for how companies can start down the path to becoming a flourishing enterprises. Many of their current and new blueprints will provide or will provide valuable insight for new measurement and reporting standards, frameworks and tools.
Many other relatively new concepts are important to flourishing enterprise measurement and reporting. Most of these concepts have actually been in existence for years, but are now more evolved and are being more appreciated as to how they can all come together to support new directions in measurement and reporting for flourishing enterprises. These include multi-capitalism, value system re-definition and value co-creation, enterprise – integrated stakeholder view (whole of system) , allocations and thresholds perspective, context-based, impact focused and others. Many existing standards and framework development initiatives have had some of these or have recently initiated integration of these into there approaches. Hence the sense of optimism.
In summary what initiatives and ideas that currently excite me in measurement and reporting for flourishing enterprises are:
- Integrated Thinking as described by <IR> Integrated Reporting and others
- Future-Fit concepts, benchmark and method guide documents, and the new calculator
- r3.0 Blueprints
- Multi-capitalism and the MultiCapital Scorecard
- Integrated Enterprise Stakeholder View – customers/clients, employees, suppliers/partners, community, investors and the planet.
- A new redefined value system with a much broader perspective of value and value creation.
- A much better understanding of impact especially as to value within a integrated stakeholder perspective.
- Allocations and Thresholds perspective
I will be exploring all of the areas identified in this post in more detail in subsequent posts.
Bill, The Flourish Rebel