The MultiCapital Scorecard

Mark W. McElroy and Martin P. Thomas

Sustainability Accounting, Management and Policy Journal, 2015, vol. 6, issue 3, 425-438

Abstract: Purpose - – The purpose of this paper is to disclose a new performance accounting method called the MultiCapital Scorecard, which makes it possible to measure, manage and report Triple Bottom Line performance relative to organization-specific norms for impacts on multiple capitals. Design/methodology/approach - – The authors set out to expand a pre-existing multiple capital accounting system known as Context-Based Sustainability. Whereas Context-Based Sustainability assesses the social and environmental performance of organizations relative to norms for impacts on non-economic capitals, the MultiCapital Scorecard adds economic performance to the mix. Findings - – The authors find that it is indeed possible to measure and report the social, environmental and economic performance of an organization in an integrated, context-based way relative to norms for impacts on multiple capitals. The MultiCapital Scorecard is the result. Practical implications - – The MultiCapital Scorecard is an open-source methodology that any organization can use. For managers or accountants interested in testing, evaluating or adopting multiple capital accounting, it provides a practical and systematic solution. Social implications - – The MultiCapital Scorecard is transformational, in that it holds organizations and commerce writ large accountable to the limits in, and demands for, vital capitals in the world on a fair and proportionate basis. No other method does this, and yet it must be done if there is to be sustainability in the conduct of human affairs. Originality/value - – The paper describes the world’s first multiple capital, context-based accounting system that organizations can use to measure, manage and report their Triple Bottom Line performance in integrated and quantitative terms. The MultiCapital Scorecard is the authors’ original creation.

Keywords: Triple bottom line; Sustainability performance; Context-Based Sustainability; Integrated measurement and reporting; Multiple capital accounting; Six capitals (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eme:sampjp:sampj-04-2015-0025

DOI: 10.1108/SAMPJ-04-2015-0025

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