MultiCapital Scorecard
= concept and book
The Concept
= "The MCS is the world’s first and only context-based triple bottom line accounting system and is specifically adaptable to the reporting requirements of Benefit Corporation Statutes in the U.S. and elsewhere". [1]
Description
Mark W. McElroy:
• A context-based approach to TBL measurement and reporting (defines company-specific standards of performance on a bottom-up basis)
• A three-step process:
1. Scoping and Materiality – Identify duties and obligations for what an organization’s impacts on vital capitals must be in order to be sustainable; results in identification of related Areas of Impact (AOIs)
2. AOI Development – Define company-specific goals and standards of performance for each AOI, context-based metrics and associated data collection protocols
3. Scorecard Implementation – Operationalize Scorecard in order to measure, manage and report performance "
The book
- Book: The MultiCapital Scorecard.By Martin Thomas and Mark McElroy. Chelsea Green Publishing, 2017.
"The Consultants Martin Thomas and Mark McElroy have developed a format that provides a practical way to oversee such expansive sustainability. You choose what you wish to measure – what you feel is important – and even the weights you want to give to the various items. But they provide, thorough their MultiCapital Scorecard, a means for managing and evaluating that broader view of the organization.
It’s an important book because when you fall short of sustainability – an unpalatable workplace, polluting the environment, or being unproductive and winding up in the financial red – you are eroding capital, be it societal or corporate, and that’s destructive. And even if you find a multicapital approach wrongheaded or the authors’ system too elaborate, the method may include useful ideas you can borrow for your own situation." (https://www.theglobeandmail.com/report-on-business/careers/management/the-multicapital-scorecard-a-practical-guide-to-sustainability/article33849941/)
More information
(http://www.sustainableorganizations.org/Multiple_Capital_Accounting.pdf)