IFVI and VBA Call for Public Comment on Impact Accounting Exposure Drafts Addressing Water Consumption, Occupational Health & Safety, and Impact Measurement and Valuation Techniques
24 September 2024 – Today, the International Foundation for Valuing Impacts (IFVI) and the Value Balancing Alliance (VBA) launch a public comment to receive feedback on the following exposure drafts:
- General Methodology 2: Impact Measurement & Valuation
- Occupational Health & Safety (OHS) Topic Methodology
- Water Consumption Topic Methodology
The impact accounting methodology, produced by IFVI and the VBA, is a globally applicable and comprehensive public good methodology that allows corporates and investors to translate social and environmental impacts into the language of currency. Aligned with and expanding existing data requirements, these methodologies are easily implemented by preparers to inform decision making and enhance comparability across entities, across impacts, and with financial performance.
Together, these exposure drafts are an important expansion to the existing releases of the impact accounting methodology, continuing to build out fundamental principles of the impact accounting system and developing specific topic methodologies available for direct use by corporates and investors.
About the exposure drafts
General Methodology 2: Addressing the measurement and valuation of corporate impacts, the Methodology builds on the key concepts, definitions, and principles established in General Methodology 1: Conceptual Framework for Impact Accounting by introducing the methods and techniques necessary to develop impact pathways and prepare impact accounts. Access General Methodology 2 here and share feedback via the Public Comment Form.
OHS: Tackling the significant repercussions of hazardous workplace conditions, the Methodology guides preparers of impact accounts to measure and value, in currency, the impact of occupational injuries, illnesses, and fatalities on people. Ultimately, the methodology encourages companies to manage and reduce negative occupational health and safety impacts. Access the OHS Topic Methodology here and share feedback via the Public Comment Form.
Water Consumption: Addresses the global challenges of water availability, the Methodology guides preparers of impact accounts to measure and value, in currency, the impact of a company’s water consumption on people and the planet. Ultimately, the methodology encourages companies to manage and reduce water consumption, particularly in high-impact regions while simultaneously providing compelling information for a variety of business decisions. Access the Water Consumption Topic Methodology here and share feedback via the Public Comment Form.
We are seeking feedback from the public and welcome anyone interested in impact accounting to comment, which can be done via form or e-mail. Specific questions for feedback are included in each of the draft, along with the opportunity to provide general feedback. Deadline to submit comments is December 7, 2024.
About the webinar
IFVI and VBA will host a webinar on October 29 at 4pm CET / 10am ET to introduce the exposure drafts and answer questions.
Register for the webinar here.