Accounting for Sustainability: Frameworks for the Aggregation of Financial and Non-financial Metrics

Satyajit Bose (), Guo Dong () and Anne Simpson ()
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Satyajit Bose: Columbia University
Guo Dong: Columbia University
Anne Simpson: CalPERS

Chapter Chapter 4 in The Financial Ecosystem, 2019, pp 83-109 from Palgrave Macmillan

Abstract: Abstract This chapter begins by providing a brief history of the evolution of financial accounting and then addresses the need for non-financial metrics that track the value of natural and human capital in any complete assessment of company value, reviewing the decision-theoretic rationales for the integration of non-financial metrics in the capital allocation process. It examines the disclosure frameworks and standards that are intended to expand transparency on the social and environmental impact of corporate and government activities by taking into account the interests of stakeholders other than investors. The chapter ends by examining the Sustainable Development Goals as a common global vision for a plurality of constituencies with actionable goals and quantitatively measurable indicators.

Date: 2019
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DOI: 10.1007/978-3-030-05624-7_4

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