Rethinking Accounting Frameworks to Include Natural and Social Capital As an expert in non-financial accounting and CEO of TEK4life, Florent Courau urges companies to broaden their definition of value and rethink how they manage their activities. Interview.
Because value is created collectively. And as long as it is not in the interest of every stakeholder to contribute to this value creation, obstacles will continue to multiply.
Value is conventional, but not necessarily arbitrary. What matters is based on a shared understanding—one that can be both rational and virtuous. We are all responsible for the hierarchies and scales that define what counts, and what counts less. These choices are the foundation of how we live together. They shape our relationship with the world. That’s why it’s essential to understand them. A brief genealogy of economic theories.
Value is created by a network of essential stakeholders—of which the company is just one. As obligations to others accumulate—whether disengaged employees or a degraded environment—generating economic value becomes increasingly difficult. To sustain value creation, businesses must deliver profitable solutions to the pressures affecting these stakeholders.
Between imminent disasters and outstanding performances, our world is forced to redefine value. What if mutualism already held the answers?
Everyone talks about the regenerative economy, but no one knows what it is. Isabelle Delannoy takes us behind the scenes of the first AFNOR standardization guide for this new value model.
