The MultiCapital Scorecard

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.

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