TrueValueMetrics ... Impact Accounting for the 21st Century


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Date: 2025-02-05 Page is: DBtxt001.php txt00023407

TVM LINKEDIN CONNECTION
ANTONIO
Antonio is working with ESG in Brazil

Peter Burgess COMMENTARY

Peter Burgess

Antonio ... I wish you well.

The world is at an interesting point in its history. On the one hand there is a massive amount of knowledge that is related to science and technology that enables a world that is very productive and as well there are a lot of people and leadership that choose to ignore all of this and embrace all sorts of misinformation that suits an agenda that is essentially fantasyland.

Why is this? One of the reasons is that the most powerful management tool ... corporate financial accounting and reporting ... is woefully out of date and no longer fit-for-purpose. And the emergence of management information to address social performance and environmental performance remains weak and not integrated with financial performance and therefore ineffective. The focus of management action remains all about corporate profit performance and the value to investors.

Though we have amazing knowledge and the power to deliver sustainable performance, it is not happening because the profit component remains dominant. The modern accounting profession and big accounting firms are complicit because they also embrace profit performance above all else. Everything is done from the corporate perspective while the social and environmental perspectives get little management attention.

Something has to change. You seem to be going in a good direction. I am also doing my best, but getting old with less energy and creative intellect ... nevertheless I am still trying and developing TrueValueMetrics.org to provide some sort of foundation for a coherent, comprehensive framework of management metrics.

Again ... best wishes.

We live in interesting (and also dangerous) times

Peter Burgess

The text being discussed is available at

and

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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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