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EY: Is Everything that Counts being Counted?

EY: Is Everything that Counts being Counted?

The Embankment Project for Inclusive Capitalism (EPIC), in its latest study, identifies the factors that drive value and are important for companies’ sustainable and inclusive growth, as well as potential metrics to assess them.

Created by the Coalition for Inclusive Capitalism and EY, this project has brought together a collection of participants with both market strength and diversity across the entire investment chain (asset owners, asset managers and companies), representing US$30 trillion of assets under management and almost 2 million employees around the world.

The health of corporations and financial markets – and public trust in both – is critical to economic growth. Our collective future strongly depends on vibrant and sustainable capital markets. Market participants have a role to ensure long-term value creation that benefits all.

Today, a company’s value is increasingly reflected not just in its short-term financial performance, but also by intangible assets such as intellectual property, talent, brand and innovation, as well as impacts on society and the environment that are not fully captured by traditional financial statements. To understand this value, participants in EPIC believe it is essential to focus on and measure:

Talent: The way companies manage their human capital when it comes to compensation and benefits; recruitment; training and development; diversity and inclusion; well-being and creating a purpose-driven culture of engagement.
Innovation: Fulfilling unmet needs and maintaining focus on the end user during the innovation process and fostering trust in the organization.
Society and environment:The impact on external stakeholders and communities by contributing to business-relevant social and environmental goals.  
Governance: The effectiveness of the board in providing appropriate oversight, governance mechanisms to ensure board quality and independence, and the ability of leadership, in conjunction with the board, to develop and assess long-term strategy.
 
Commenting on the conclusions of the study, Andreas Avraamides, Partner and Head of Assurance Services of EY Cyprus said: "Today's companies cannot prosper and grow unless they gain the trust of society and those directly or indirectly affected by their operation, by creating long-term value and returning part of this value to society. To do that, they must be able to objectively assess their intangible assets and their impact on society and the environment. The Embankment Project report presents the key issues on which companies need to focus and suggests metrics on the basis of which they can be assessed.” 
 

 

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