Transform Accounting, Transform Capitalism
SVI’s campaign to transform financial accounting is at the heart of our mission and vision. We believe that financial accounting does not have to be like it is. In fact, accounting has evolved over hundreds of years and now, in the 21st century, accounting needs a major upgrade to reflect a more holistic definition of value.
Transforming accounting means including impacts on the wellbeing of people and the environment. This will provide users of accounts (decision makers) with a better understanding of value. Not only is this transformation possible, it is necessary if we are to tackle systemic challenges such as climate change, wellbeing and social inequality.
The idea of transforming accounting is building up momentum, but it requires a paradigm shift in thinking and technical practice. We are entering a transition period where the transformation needs to accelerate. SVI will be doing these things:
Campaigning for change: Lobbying for new legislation and regulatory frameworks for financial accounting and reporting
Inspire the transformation: Showcase the latest innovations, thought leadership and best practice for the next generation of accounting
Developing the people & skillsets: Building a community of practitioners who can develop the necessary skills and techniques to transform accounting
Shaping new standards: Developing the SVI standards for impact measurement and management and influencing other standards
Campaigning for Change
Influencing the IFRS
The IFRS Foundation set standards for financial reporting and accounting in over 150 countries. SVI have been responding to their consultations to influence the way the IFRS integrate sustainability information into their frameworks.
Read our responses below.
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SVI response to the creation of the International Sustainability Standards Board (ISSB)
16th November 2021
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SVI response to the IFRS consultation on targeted amendments to the IFRS Foundation constitution to accommodate an International Sustainability Standards Board to set IFRS Sustainability Standards
28th July 2021
Capitals Coalition &
Social Value International
Joint Response to the IFRS Consultation
We have led on an a collective response to the ISSB consultation on the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and the IFRS S2 Climate-related Disclosures exposure drafts.
Listen to Jeremy Nicholls, SVI Co-founder and Capitals Coalition Ambassador discuss the 4 main points of our collective response:
Consistent criteria for
useful information
Clarity on the intended users
Assurance and Materiality
What is "Reasonable”
Capitals Coalition &
Social Value International
Joint Response to the Public Consultation on Draft European Sustainability Reporting Standards
Another joint response with Capitals Coalition on the European Financial Reporting Advisory Group (EFRAG)’s Public consultation on the first set of Draft EU Sustainability Reporting Standards (ESRS). More context about the consultation can be found here.
SVI and partners respond to the IPSASB consultation
Social Value International, alongside The Capitals Coalition and GSG, have responded to the International Public Sector Accounting Standards Board (IPSASB) on advancing public sector sustainability reporting.
More context about the consultation can be found here.
Working Together
SVI are a member of the Value Accounting Network
The Value Accounting Network has united under the ambition that the value that flows between nature, people, society and the economy must be included in decision-making.
One reason that the global community is failing to address our collective challenges of climate change, inequity, and the loss of nature is that decisions are based on incomplete information that does not sufficiently account for this value.
Through the Value Accounting Network, we are unifying to advance the use of value accounting in decision-making.
Value accounting is defined by the Network as:
The collection, calibration, and use of information about the relative value that an organization creates or erodes for its stakeholders, using common units. This information is used when making decisions for a variety of purposes.
The term value accounting encompasses impact measurement and valuation, capitals assessments and accounting, broader valuation methodologies and other approaches such as true price or true cost accounting.
Inspire the Transformation
Explore the latest innovations, thought leadership and best practice for the next generation of accounting.
Technical papers:
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Constrained by Economics
Rethinking Capital
2021 -
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Constrained by Accounting: Examining How Current Accounting Practice is Constraining the Net Zero Transition
Rethinking Capital
August 2021 -
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Applications of Normative Economics & Normative Accounting for Intangibles
Rethinking Capital
August 2021 -
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Disclosing Impacts on Natural, Social & Human Capital in Financial Statements
Capitals Coalition
March 2021 -
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Improving Nature’s Visibility in Financial Accounting
Capitals Coalition
April 2020
SVI Founder Jeremy Nicholls’ blog series with Pioneers Post:
