Part Ten in a 10-Part Series by Reporting 3.0. See previous parts below.
“If you don't know where you're going, you might not get there,” U.S. baseball icon (and meister of understated irony) Yogi Berra famously stated. This quip accurately describes CSR / ESG incrementalism, which heads in a direction without a clear destination. By contrast, context-based multicapitalism (as advocated by Reporting 3.0) provides not only a clear destination, but also a timeline for tracking the rate of progress needed – across multiple, interrelated dimensions.
As more businesses make moves to align their operations and strategies with the Sustainable Development Goals (SDGs), the need for a common framework for reporting on the impacts and contributions of companies to the SDGs becomes more apparent.
A new sense of readiness and willingness from companies is transforming how businesses approach responsible growth. Corporate sustainability is no longer viewed as a trend, but as a necessity. That’s why leading companies across the U.S. and the globe are recognizing that capturing value requires improving energy management, engaging suppliers and driving innovation. One of the most effective ways to do this is by setting targets that are in line with what climate science says in necessary to keep warming below 2 degrees, known as “science-based targets.”
Massachusetts-based Fourstar Connections, founded in 1986 as a cable assembly shop, has evolved into a comprehensive solution provider with an extensive portfolio of services and solutions to tackle a wide range of manufacturing needs. It also differentiates itself with a focus on sustainability — as a value creator and risk mitigator for the company, as well as for its publicly traded customers.
We caught up with Fourstar’s owner and president, Phillip Holman, to learn more about the company’s commitment to sustainability, and why he thinks it’s time for CPAs to lean into discussions and strategy-setting around the issue.
International environmental reporting and data non-profit CDP has released new research in partnership with global infrastructure firm AECOM revealing that $9.5 billion worth of city water projects are now open for investment.
US cities still have a long way to go towards achieving the Sustainable Development Goals (SDGs), according to the first-ever US Cities SDG Index, which ranks the 100 most populous metropolitan areas in the US based on their performance on the SDGs.
A close friend and colleague of mine, Joe Firestone, once pointed out that along with new conceptions of the world (i.e., new paradigms) come corresponding requirements for new measurement models. We simply cannot measure things in old ways when the things we’re trying to measure are entirely new. New constructs usually call for new metrics.
Part One of this 10-part series ended with a quick introduction of how Reporting 3.0 (R3) applies Integral Theory in our thinking. So we pick up this strand as our starting point for Part Two, which is devoted to introducing the Reporting Blueprint that was released at the 4th International Reporting 3.0 Conference earlier this year.
To mark Earth Overshoot Day (August 2nd — the earliest to date) — the date when humanity’s annual demand on nature exceeds what Earth can regenerate over the entire year — international research organization Global Footprint Network has launched a new mobile-friendly version of its signature Footprint Calculator.
“There is no sustainable business in an unsustainable world.”
This saying — a kind of Reporting 3.0 “motto” — is simultaneously contrarian and common sense: contrarian in the sense that it counters the prevailing tendency in the corporate sustainability field to focus on incremental progress toward sustainability at the company (“micro”) level. Common sense in that sustainability applies holistically (not just atomistically), such that company-level impacts “roll up” to the systemic (“macro”) level.
Natural capital underpins prosperous economies and thriving societies. Understanding the interconnectedness between business and nature well as the associated risks and opportunities, allows companies to better inform decision-making.