What is the Accordant approach to Environmental Social Governance?
Our approach is to work with clients to adopt the most appropriate framework for their organisation, and we’ve developed tools and methodologies across a spectrum to enable us to do this. Read more on how we approach this huge topic below.
One of the most challenging aspects of ESG is striking the balance between the technical skills and business skills, the time available for decision making, and the depth of analysis required. Our bespoke AccSL® suite of software, which encompasses AccSL® Finance, AccSL® Carbon, and AccSL® Social modules allows us to capture and analyse the three pillars of ESG quickly and address the challenge – skills, time, depth of analysis and reporting, in a single pane of glass.
What is ESG and Social Value?
Increasingly organisations are finding themselves needing to think beyond the traditional financial models and classic profit-only bottom line. Environment, Social Governance, or ESG, is just one of several approaches that allow organisations to measure, manage and report on factors and interests within a wider context. It has been called the triple bottom line, the People, Planet, Profit approach, and is widely understood to include Social and Sustainability metrics alongside finance.
Environment, Social, Governance (ESG)
This is the broadest of the approaches, and is becoming very popular as an overarching framework – it has a wide set of definitions, and allows organisation a degree of liberty in defining the standards and measures they will use. It’s of particular value if you’re just setting out on the ESG journey, and need help in firming up the thinking and evolution of your approach. This is rapidly gaining momentum within the Public Sector, Investment Houses and Third sector. ESG is without doubt the emergent terminology and hot topic for investment houses and acquisitions.
Social Value, Sustainability and Circular Economics (sROI)
Going a stage deeper than top level ESG, we begin to look into Social Value and Sustainability. We use the 3P’s model – People, Planet and Profit. In doing so, we can begin to refine further the detail levels of investments and sustainability. As you would expect in this model, we look at Carbon emissions and mitigations, social impacts such as Education, Employment and Wellbeing, and also consider those roles in profit and value creation. We work with clients to develop Key Value Indicators (KVI’s) and reporting mechanisms. The Genuine Progress Indicator (GPI) model and even Fully Integrated Value Creation Frameworks. These are ideally aligned to circular economic concepts, rather than linear models, and have a view on value creation, whilst at the same time being non-destructive to natural capital.
UN Sustainable Development Goals (SDG’s)
Perhaps the most comprehensive and detailed framework developed to date. The UN 17 Sustainable Development Goals, or SDG’s, encompass a huge range of topics and can be used as individual focus areas, (for example, a third sector organisation may be focused on say local poverty reduction), or as wider concepts and initiatives. Here we adopt the 17 SDG’s; however we also follow the broad categorisation of those goals to extend and enhance the 3P’s model into the 5P’s model – People, Planet, Prosperity, Peace, Partnerships.
How Accordant can help
We are proud to say that we have been working on our own internal social value measurement since 2018, and reporting since 2019. We have achieved the Social Value Quality Mark and have entered into a partnership with the Social Value Quality Business. Our software, (AccSL® Finance, Carbon, Social), and methodologies, are aligned to the principles and discussions here, and yet there is more.
Having the technology and process background we have, as well as sophisticated cybersecurity and financial skills, we are in a pretty unique place to help you, whether that’s with your first steps on the ESG journey, and/or the in-depth analysis and reporting of your impacts and influence. Our toolsets, (AccSL®), give us the solid foundation of data capture, analysis and reporting, and our consultants are skilled in Technology, Information, Project and Programme Management, Process Design, Automation, and many other relevant and critical skills.
Wherever you find yourself in the conversation around Social Value, Climate Impact, Sustainability, Circular Economics and reporting we will be delighted to work with you in advancing your journey.