These organizations include the International Integrated Reporting Council, The Natural Capital Coalition, Social Value International, and The Roundtable on Product Social Metrics. Together, they demonstrate the need to work collaboratively to overcome systemic issues for the common good.
First launched in April 2017, the Social & Human Capital Protocol is designed to help companies identify, measure and value the importance of people and communities.
“We understand that an effort like this can only succeed if it’s truly a multi-stakeholder process,” said Mike Wallace, Executive Director of the SHC Coalition. “This is why we’ve taken the care and consideration to open the first version of the Social & Human Capital Protocol for public consultation.”
Such collaboration is critical to the success of the SHC Coalition and ultimately in achieving the vision of social and human capital being consistently measured and valued in corporate, investor, government and organizational decision-making.
After a public comment period of three months, the consultation closed this morning – with over 250 comments from a range of experts in the natural, social, human, intellectual and financial capital arenas.
“Developing a credible, comparable and broadly accepted approach on valuing social and human capital is essential in the transition to a more sustainable world,” said Peter Bakker, President and CEO of WBCSD, and chair of the SHC Coalition’s Board. “The new Social & Human Capital Coalition will help demonstrate true corporate performance to key stakeholders, while ensuring a continuous movement towards universally just employment and community practices.”
Government policy, investor requests and consumer sentiment are all driving companies to better manage their social impacts and dependencies while integrating sustainability into core business principles. The work of the Social & Human Capital Coalition is a significant step forward.
In light of today’s events, the SHC coalition is encouraging all organizations to join this open and collaborative network. See www.social-human-capital.org for more information, or register your interest at: firstname.lastname@example.org.