ESG - Environmental, Social and Governance – reporting by corporates has become widespread to demonstrate their social and responsible agenda. However, to manage any change in social, natural and economic environment due to business activities, there is need to measure their impacts. ESG rankings and scores fall short on measuring impacts and outcomes and are ineffective in catalyzing a strategic response to reduce these impacts. TCA – True Cost Accounting – tool can measure these impacts across four capitals (human, social, natural, and produced) in monetary terms. These impacts can then be included in balance sheets of corporates to improve decisions to effectively manage those changes and gain sustained competitive advantage. Read my article at London School of Economics Business Review
Discussion forum by Sustainable Agriculture and Integrated Livelihoods Network