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LINKEDIN CONNECTION
Angelica Lips da Cruz
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Angelica Lips da Cruz
1st degree connection·
Global Lead impact measurements and SDGs direct indexes, accelerating sustainable financial markets in the transition with the materiality in ESGJUN 24
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Peter Burgess sent the following message at 2:42 PM
THANK YOU. I enjoyed what you had to say this morning (my time) on the TBLI webinar. I laughed when you said you were an accountant but had moved on. I qualified as a Chartered Accountant in 1965, but before that learned some engineering and economics at Cambridge. Maybe there is some way I can help
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Angelica Lips da Cruz sent the following message at 3:49 PM
Peter! Glad you connect. Thank you! Yes, accountant, credit analyst, etc. It feels like I have been learning through all these years to be able to do what I do today. Tell me more, you are in NY, and what do you have in mind?
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JUN 28
Peter Burgess sent the following message at 3:38 PM
Angelica ... I don't know where to start. Yes I am in the USA ... many years in the middle of Manhattan and now living in the Poconos of Pennsylvania about 2 hours West of NYC.
It is almost 60 years since I finished my formal education ... engineering and economics at Cambridge and professional training as a Chartered Accountant in London. There has been massive progress in engineering since then ... rather less in economics and accountancy !!!!!!!!!
I like to think I have learned a lot since I ended my formal education. I have learned something about using data to manage ... not more and more data to have evermore precision, but the least amount of very specific useful data really quickly to actually make the right decisions that will move the needle. Added to this fast feedback so that bad decisions can be rectified before much damage is done.
In my corporate career I was always very clear about two different data flows.
- Summarized data flows up to the Board and to Outsiders to show aggregate performance relatively infrequently.
- Disaggregated data is pushed down to the lowest possible operating level as meaningfully as possible and as quickly as possible so that operational decisions can be made in a timely way.
There should also be a related feedback loop to show progress as fast as possible so further improvements can be made. Some of this exists in well managed companies especially around the dimension of profit performance
For companies, I want to see data and metrics to manage social impact and to manage environmental impact. But I also want data and metrics about a lot more than just what the typical for profit company chooses to promulgate.
What about the metrics about the progress and performance for all the other actors in socio-enviro-economic system ... for example:
- Complex for-profit Companies;
- Simple for-profit Companies;
- For-profit operations in a single location;
- Not-for-profit organizations / Churches / Charities ;
- Communities / Municipalities; Counties / States;
- Nations; Products;People (individuals); and
- Households.
Accountancy is a very powerful framework for management analysis ... specifically the idea of a balance sheet with assets and liabilities and the profit and loss account with debits (costs) and credits (revenues or benefits)
Most people have limited accountancy background and do not understand that the change in the balance sheet during a period and the profit for the same period are the same. This means that progress can be accurately measured simply by looking at the change in the balance sheet and without the need for analysis of the profit and loss accounts which is much more difficult.
There is no reason why the sort of balance sheet analysis that is done for economic capital (money accounting) cannot be expanded to included social capital and natural capital ... but it needs a system of numbering.
Many of the ideas that already exist in accountancy in respect of complex group accounts can be applied to the sort of enhanced true value accounting that I envisage.
Ideas that are used in conventional financial multi-currency accounting can also be applied for use in an enhanced true value accounting system that has separate metrics for economic transaction, environmental impacts and social impacts
I said at the beginning that I did not know where to start ... and at this point I should perhaps add that I also don't know when to end. So this is something about an emerging big idea ... that I think is quite close to what you think about as well, and probably with a whole lot more clarity than me !!!!!!!!!!!!!!!
With best regards
Respectfully
PeterB
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WEDNESDAY
Angelica Lips da Cruz sent the following message at 4:22 AM
Yes Peter! You are there! Not many understand this.
You are with us in the work that we have started in 2016. Social, natural, environmental and human capital needs to be added to the bottom line.
Risk calculation will then be easily applicable. Multi stakeholders risk mitigation.
Let me also add that what I found out in our tests that system of numbers and current data is not sufficient, like you say, not that we need to increase the volumes of data.
The quantification in a meaninful assessment framework is key for the integration. What I envision is the solution so powerful that we will enhance greatly in the future the accountancy system. My email is angelica@innorbis.com.
How can we work together? Have you checked SASBs work lately?
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Dear Angelica
Thanks for giving me your email contact ... easier in some ways for communication ... but I miss emails as easily as I miss all sorts of other things.
As I think you appreciate ... your work on metrics seems to align very very well with what I am trying to do.
So the idea of collaborating with you in some way really appeals to me.
However, at my age, I need to be realistic, because the gap between what I truly want to do, and what I am capable of doing is getting larger over time rather than smaller !!!!!!!!!!
There was a time when I was at the cutting edge of technology ... both the engineering and the use of technology for data processing. The value of this is now nothing more than being a benchmark against which to measure how much I am out of date and something of a dinosaur ... but also a way for me to believe that almost anything is possible if it gets designed right.
Part of my 'agenda' is for powerful metrics to be used not only to manage in the corporate setting, but in every other important setting as well ... and to have a framework of metrics to assess products that flow through our economy ... not to mention the social, environmental and economic impact of government policies. In other words the same framework of coherent, comprehensive meaningful metrics that get used everywhere,
So again ... yes ... I would love to collaborate ... but I don't quite know what might be a sensible starting point. I would like to observe, however, that I don't want to get in the way. To the extent that I am able to help ... yes ... I am all in !!!!!!!!!!!!
PeterB
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