The Monetization of Impacts: The Role of IFVI and the ‘Impact-Weighted Accounts’ Approach by HBS

Feb 13, 2024
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At an accelerating pace, the concept of impact is revolutionising finance insofar as investments are more and more often evaluated not only on the basis of the traditional risk and reward parameters, but also of their impact on nature and people. Accordingly, the measurement of impacts is becoming a compelling issue, along with the need for sound methodologies to do so. In this respect, the disclosure of impacts has also entered corporate reporting, and in particular sustainability statements, where the role of environmental and social effects of investing is more meaningful and its magnitude more material.
The new frontier in this field is the elaboration of theoretically grounded technical approaches for expressing in monetary terms an increasing number of these impacts to facilitate the understanding and valuations of investors and stakeholders. This exercise is being carried out in a credible way by some relevant actors internationally.
In collaboration with the International Foundation for Valuing Impacts (IFVI), the Impact-Weighted Accounts Project of the Harvard Business School and the GSG, this O.I.B.R. and SIA Webinar intends to present and illustrate to the Italian and international audience these recently proposed methodologies and the associated advances and stimulating challenges for an impact-based investing and reporting future. This initiative aims at linking the exciting progress in impact accounting and reporting with the relentless development of impact investing and the mainstreaming of sustainability in business.

16:30 Opening and Introduction – Measuring Impact in Finance and Reporting: Making Sense in Progress

Prof. Stefano Zambon, General Secretary, O.I.B.R. Foundation; IFVI Board Member; and Professor of Business Administration, University of Ferrara
Sir Ronald Cohen, Co-Founder and Interim Board Chair, International Foundation for Valuing Impacts (IFVI); and Co-Founder and President of the Global Steering Group for Impact Investment (GSG)
Dr Giovanna Melandri, President, Social Impact Agenda for Italy (Italian National Advisory Board of the “Global Steering Group for Impact Investment”-GSG); and President, Human Foundation

16:55 The International Foundation for Valuing Impacts (IFVI): Current Achievements and Future Prospects
T. Robert Zochowski, President and CEO, IFVI

17.10 The Impact-Weighted Accounts (IWA) Project by the Harvard Business School: Foundations and Technical Methodologies
Ethan C. Rouen, Terrie F. and Bradley M. Bloom Associate Professor of Business Administration, Harvard Business School

17.35 The Value Balancing Alliance (VBA): Experiences in Business and the Link to Corporate Reporting Standards
Christian Heller, CEO, The Value Balancing Alliance e.V. (VBA)

17.50 Monetising Impacts: An Italian Experiment
Lino Cinquini, Chair, Scientific Committee, O.I.B.R. Foundation, and Professor of Business Administration, School of Advanced Studies Sant’anna of Pisa; and Maria Serena Chiucchi, Vice-Chair, Scientific Committee, O.I.B.R. Foundation, and Professor of Business Administration, Polytechnic University of the Marche, Ancona

18.05 Final Remarks
Filippo Montesi, General Secretary, Social Impact Agenda (SIA) for Italy
Alessandro Lai, President, O.I.B.R. Foundation, and Professor of Accounting, University of Verona

18.15 End of the Webinar

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