Scaling Up Impact Measurement And Management For Banks
New Banking for Impact working group include UBS, ABN AMRO, Denmark’s Danske Bank, Singapore’s DBS Bank, Harvard University, and the Impact Institute.
As long as impact measurement and reporting remains unstandardized and there is no guidance on the attribution and aggregation of impact across the value chain, we will not be able to move forward. So more progress is needed – and quickly.
To help get there the Banking for Impact (BFI)working group aims to create a common impact measurement and valuation (IMV) approach. BFI will define a robust, scalable and cost-effective method for the quantification, valuation, attribution and aggregation ofimpacts for the sector. And with industry involvement the goal is to scale up and standardise these efforts overtime.
How much of a coal company’s greenhouse gas emissions is the responsibility of the bank that loaned it money? The nuts and bolts of devising new accounting systems are complex.
Source: https://bankingforimpact.org/wp-content/uploads/2021/06/BFI-Vision-paper-June-2021.pdf