Some companies already recognise the potential in evaluating a broader range of impacts. Although they’ve not yet taken a ‘total’ perspective, their initiatives show that they understand they’re making a bigger impact and contribution than their financials alone can convey. Here are some examples:
Traditional financial metrics don’t present the whole story about a business. Using the TIMM methodology to create an EP&L, Kering Group has quantified and monetised its environmental impact across its entire supply chain, right across the Group. It can now consider sustainability criteria alongside price and quality in its sourcing decisions.
PwC, The Travel Foundation and TUI Group completed ground breaking work to understand the total impact of 60,000 holidaymakers visiting 8 TUI Group hotels during 2013 in Cyprus using PwC's Total Impact Measurement and Management (TIMM) framework. It's driven the development of new methodology to share with the tourism industry.