Competition
September 2015

Competitition for Award for Circular Economy Leadership

Burgess COMMENTARY

Peter Burgess

Award for Circular Economy Leadership

Award to honor an individual in business or the public sector who has demonstrated inspiration leadership in the journey towards a circular economy.

Organization Details Organization Name No. of Employees Address Twitter Handle Industry Annual Turnover Website

Summary of Entry

If you are applying on behalf of another individual please enter their details below: Name Job Title Summary Ensure to include specific achievements, and both qualitative and quantitative details, across the 3 themes of Leadership, Innovation and Value Creation. If your entry is chosen as a Finalist, your entry summary may be utilized on the website – are you comfortable with your summary being shared publically?

Leadership

How have you demonstrated leadership in the circular economy? How have you been a public advocate of the circular economy? How are you leading change? How have you overcome difficulties to achieve circular goals? How are you enabling collaboration? How do you and motivate and inspire others to support and adopt the circular economy? How do you share knowledge, coach and advise others to encourage further development of the circular economy?

Innovation

How are you supporting circular innovation? How do you encourage innovation? How do you encourage others to think about problems in new ways? Value Creation How are you creating value within you organization or with your stakeholder group? How do you embed the circular economy into the vision and values of your organization, community, or those organizations/ communities you work with? How do you cascade those values through to your other stakeholders? Describe any circular economy thought leadership that you have produced and the impact it has had.

Supporting Materials

Video To support your entry, you have the opportunity to upload a 90 second – 3 minute video which summarizes your entry. Optional Supporting Documents Attach any further materials which you would like to provide to support your entry. Optional Do you want to be included in the running for the:

Organization Details Organization Name TrueValueMetrics

Industry Metrics .,.. all industries ... all perspectives / actors

No. of Employees 1

Annual Turnover USD 0

Address 204 Seaham Court, Bushkill PA 18324

Website http://www.truevaluemetrics.org

Twitter Handle @truevaluemetric

Summary of Entry ... If you are applying on behalf of another individual please enter their details below:

Name Peter Burgess

Job Title Founder CEO, TrueValueMetrics

Summary ... Ensure to include specific achievements, and both qualitative and quantitative details, across the 3 themes of Leadership, Innovation and Value Creation

CEOs of major companies are increasingly talking about impact, being sustainable, embracing corporate social responsibility, and so on, but decision making is still dominated by financial metrics that ignore these things because of limiting standards and compliance regulations. My work sets the stage for the introduction of numbers that account for everything that matters. In due course we want the Chief Financial Office to be the Chief Performance Officer where performance is about Profit, People and Planet and also embraces the issue of future risks that are getting bigger all the time and blissfully ignored. I am leading the charge to change accountancy for the better, to have a far better system of true value accounting and ending the routine matter of ignoring value destruction in society and the environment while applauding profit increase, GDP growth, and stock market wealth increases. 141/150 words

If your entry is chosen as a Finalist, your entry summary may be utilized on the website - are you comfortable with your summary being shared publically? Yes No submit entry save draft

Leadership ... How have you demonstrated leadership in the circular economy?

How have you been a public advocate of the circular economy? How are you leading change? How have you overcome difficulties to achieve circular goals?

It became clear to me in the 1970s that money wealth did not result in good behavior. I first saw dead poor children in an oil rich society ... and horrendous pollution ... and it was obvious that management accounting needed to be very different. ... not just GDP growth, and money profit and stock prices ... but real quality of life and care of the environment. Further, it was clear to me that this had to be based on reform of the way business accounting and reporting gets done.

How are you enabling collaboration? How do you motivate and inspire others to support and adopt the circular economy?

I am present at a large number of events organized by universities and others. Panelists usually have an ability to talk about what they are doing, but there is almost always a total lack of numbering ... without metrics the winner is the one that talks the best when it should be the one that performs the best as shown be relevant numbers. I do my best to call this situation and suggests use of true cost and true value accounting.

How do you share knowledge, coach and advise others to encourage further development of the circular economy?

Its all about the numbers ... we have to start to measure everything that matters, rather then simply using money metrics to account for profit and enable stock market valuation. American 'exceptionalism' has been built on top of massive resource depletion and environmental degradation, and the numbering does not take this into account.. Thinking in terms of profit AND impact on quality of life AND impact on the environment can be done in numbers ... essential.

Innovation ... How are you supporting circular innovation? How do you encourage innovation? How do you encourage others to think about problems in new ways? I am designing a system of value accounting that will do conventional money accounting but also account for impact on people and impact on environment in a cost effective rigorous manner. The system embraces standard values in the same way cost accounting uses standard costs. Peter Drucker famously said 'You can't manage what you don't measure' and I argue also that if you want to change the way the game is played, you change the way the game is scored. There is a massive amount of good detail technical work that has been done, but it has not yet been linked in an easy way with the accounting that is used by decision makers in the corporate management community.

Value Creation ... How are you creating value within you organization or with your stakeholder group?

How do you embed the circular economy into the vision and values of your organization, community, or those organizations/communities you work with? How do you cascade those values through to your other stakeholders?

Its all about numbers ... a few key numbers that summarize actual performance for key dimensions of impact in just the same way that money accountants report to management and stockholders on the performance of the organization. In True Value Accounting there are many of the concepts used in conventional double entry accounting, but numbering not only about money, but also in value units related to quality of life and value units related to impact on the environment and the emerging risks to society from environment misbehavior. The system takes into consideration all the actors in the life cycle of everything.

Describe any circular economy thought leadership that you have produced and the impact it has had.

My contribution to the circular economy is just about the numbering. Without the right sort of numbering there will never the the sort of traction that is needed. Companies may deliver incremental wealth to investors, but they also have important impact on people and planet arising from their operations ... and this part of business reporting should be a rigorous and as well numbered as the profit performance and financial reporting.

Supporting Materials ... Video
To support your entry, you have the opportunity to upload a 90 second - 3 minute video which summarizes your entry. Optional add file

Supporting Documents
Attach any further materials which you would like to provide to support your entry. Optional add file