Societal progression and planetary boundaries are forcing a socio-ecological transformation while increasing corporate social responsibility (CSR) regulations are moving sustainability topics up the economic agenda. Every transformation process, however, evokes certain reactions, beginning with shock, going through denial, moving on to acceptance, until solutions are tried out before being integrated. The first phases have dominated previous decades, now is the time for action. Similar to digitalization, those companies that embrace upcoming transformations at an early stage will emanate stronger than before and have a competitive advantage in the long run.
The first step to mastering this transformation is to understand one's own social, environmental, and economic impacts – if you measure it, you can shape it. Learn how in this issue of WifOR Insights: Sustainability. Happy reading!
Best regards, Dr. Richard Scholz
Sneak peek into the pipeline for WISIT – our WifOR Sustainability Impact Tool
Which social, environmental, and economic impacts arise in global supply chains? WISIT, our WifOR Sustainability Impact Tool, enables organizations to calculate their upstream effects, to use this information for CSR reporting, and make informed decisions. This fall, we are looking forward to the arrival of two new features coming up:
Scope 3 to better understand this complex emissions category
Supply Chain Law Report to incorporate the German supply chain reporting requirements
If you're interested in learning how WISIT can help you and your organization to measure, manage, and understand your positive and negative impacts, please visit our website or contact us directly. For our readers in Berlin: We'll be presenting WISIT at this year's LABOR:A on September 27th– we'd be pleased to meet you at our booth!
Pushing comparability and transparency in stakeholder dialogue
WifOR's mission is to set global standards in the field of Impact Measurement and Valuation. One key component of Impact Valuation (IV) are coefficients or Impact Valuation factors which translate sustainability figures into monetary terms. With a commitment to comparability and transparency, WifOR has published its Impact Valuation factors to facilitate the implementation of the methodology at an organizational level. Our aim is to continuously develop the method and promote scientific discourse. This thrives on constructive collaboration. We therefore encourage viewing our method, engaging with it, and sharing your feedback with us. Download the IV factors in an excel format as well as the document with its scientific explanation here.
Featuring our latest article: “Case study Graphene Flagship –Measure economic impact using the Economic Footprint”
The Economic Footprint measures the sustainability of organizations in the economic dimension, meaning the contribution of an organization to the national economy. This article explains how the Economic Footprint is measured and in which ways it supports economically sustainable decision-making. In interview, Jari Kinaret, leader of the Graphene Flagship project, talks about the lessons learned and future uses of WifOR's Economic Footprint and R&D Footprint study.
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