TrueValueMetrics ... Impact Accounting for the 21st Century


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Date: 2024-11-22 Page is: DBtxt001.php L0500-True-Price-shared-values

Initiatives
True Price Shared Values

Shared Value Reporting by True Price

Governments, customers and even financial institutions increasingly require companies to work sustainably towards creating shared value for society, respecting the environment and all people involved: having positive impact.

The integrated profit and loss (IP&L) is a new framework to make and communicate decisions in this age.

For all ways in which a company creates value.
For all its stakeholders, including employees, suppliers, the government and future generations that depend on the natural environment.
For societal value creation in all forms: financial, manufactured, intellectual, natural, social and human capital.
With everything expressed in one language. Money. The language of business, investors and consumers. In an explicit framework that enables trade-offs, that were previously impossible.

A positive bottom line of the IP&L shows creating sustainable value for society, which is becoming a key condition for profitability itself.

This is also increasingly recognized in the integrated reporting movement, see e.g. IIRC (2011,2013) and GRI (2015) publications.

True Price is embracing ALL the capitals as does the TVM initiative. The segmentation of the capitals is not exacty the same, but the difference is inconsequential. The segmentation used with TVM has been determined based on the way activities of various types impact the capitals. The segmentation comparison is as follows:
	True Price	TrueValueMetrics
	(1) ... Financial Capital;	Financial Capital within ECONOMIC CAPITAL
	(2) ... Manufactured Capital;	Physical Capital within ECONOMIC CAPITAL
	(3) ... Intellectual Capital;	Knowledge Capital in Intangible Capital in ECONOMIC CAPITAL
	(4) ... Environmental Capital;	NATURAL CAPITAL
	(5) ... Social Capital; and	SOCIAL CAPITAL
	(6) ... Human Capital.	Human Capital within SOCIAL CAPITAL

REFERENCES:
Integrated profit and loss ... Creating shared value with integrated thinking TruePrice-Integrated-Profit-and-Loss-Creating-Shared-Value-with-Integrated-Thinking	Open pdf ... TruePrice-Integrated-Profit-and-Loss-Creating-Shared-Value-with-Integrated-Thinking
The text of the True Price paper	Open file 12899

The text being discussed is available at

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TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative. It has been funded by family and friends. TVM is a 'big idea' that has the potential to be a game changer. The goal is for it to remain an open access initiative.

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