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A new way to measure the value a company creates
Critical to every company is knowing the value it creates. After all, isn’t that why a company exists? Historically, we have relied on traditional accounting profit and loss statements to measure performance and rate success. And while this has served us well to date, it only provides one perspective of value, and that is monetary return to the shareholder.
Today we want to know more. We also want to know if society gains value from the company’s existence, or is adversely effected. We want to know what our contribution is towards liveability. And we are all seeking to place ‘customers at the centre’. But how can we measure all of these?
One methodology that does include a broader perspective to measuring value is Integrated Profit and Loss (IP&L). This includes measuring a company’s impacts on natural capital, social capital, human capital, together with financial capital.
Each capital then requires parameters to be selected that capture the potential impacts. For example, natural capital at Yarra Valley Water is experienced through land clearing, pollutants discharged into waterways, water extraction, and greenhouse gas emission. Each is quantified, and each requires a separate analysis to determine the environmental impact, in many cases drawing upon previous modelling done elsewhere and translated to this site. And for each of these, an economic value is then determined, also using the best available methodology.
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