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PwC comments on the the Conceptual framework for impact accounting, issued by the International Foundation for Valuing Impacts (IFVI) and the Value Balancing Alliance (VBA)
Publication date: 11 Dec 2023
gx PwC comment letter
To enable capital flows to sustainable businesses, there needs to be a set of standardised methodologies that allow for comparability and broader adoption. We therefore encourage the IFVI and VBA to continue to build consensus for the methodologies being developed for impact pathways at the sustainability topic and industry-specific level.
While impact accounting and valuation is at an early stage for many companies, we urge ongoing connection (and reference where applicable) to the work of the impact reporting standard setters (e.g. EFRAG, GRI) as this topic evolves and may support impact materiality assessment with quantitative analysis. To that end, we welcome the efforts for maximum alignment between the Exposure Draft and existing sustainability reporting frameworks (from the IFRS Foundation and EFRAG) and recommend caution in the introduction of new principles (such as conservatism)."
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