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      A Preliminary Framework for Product Impact-Weighted Accounts
      18 Feb 2020Working Paper Summaries

      A Preliminary Framework for Product Impact-Weighted Accounts

      by George Serafeim, Katie Trinh, and Robert Zochowski
      Although there is growing interest in environmental, social, and governance measurement, the impact of company operations is emphasized over product use. A framework like this one that captures a product’s reach, accessibility, quality, optionality, environmental use emissions, and end of life recyclability allows for a systematic methodology that can be applied to companies across many industries.
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      Author Abstract

      While there has been significant progress in the measurement of an organization’s environmental and social performance, metrics to evaluate the impact of products once they come to market lag far behind. In this paper we provide a framework for systematic measurement of product impact in monetary terms and delve into the rationale for the framework’s seven elements. We then apply the whole framework to two competitor companies and elements of the framework across companies in different sectors of the economy to show the feasibility of measuring product impact and the actionability of the framework. Not only does this application demonstrate feasibility, it also indicates the value of impact-weighted financial statement analysis. We see our results as a first step, rather than a definitive answer, towards more systematic measurement of product impact in monetary terms that can then be reflected in financial statements with the purpose of creating impact-weighted financial accounts.

      Paper Information

      • Full Working Paper Text
      • Working Paper Publication Date:
      • HBS Working Paper Number: HBS Working Paper #20-076
      • Faculty Unit(s): Accounting and Management
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      George Serafeim
      George Serafeim
      Charles M. Williams Professor of Business Administration
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