Methodologies for true cost accounting in the food sector

Uwizeye, A. et al. Nitrogen emissions along global livestock supply chains. Nat. Food 1, 437–446 (2020).

de Buhr, E. & Gordon, E. Bitter Sweets: Prevalence of Forced Labour & Child Labour in the Cocoa Sectors of Côte d’Ivoire & Ghana (Tulane University & Walk Free Foundation, 2018); https://cocoainitiative.org/wp-content/uploads/2018/10/Cocoa-Report_181004_V15-FNL_digital.pdf

Cawley, J. & Meyerhoefer, C. The medical care costs of obesity: an instrumental variables approach. J. Health Econ. 31, 219–230 (2012).

Baker, L. et al. Prospects for the true cost accounting of food systems. Nat. Food 1, 765–767 (2020).

TCA Inventory (Global Alliance for the Future of Food, 2020); https://airtable.com/shr3eH7gXan4SqHxB/tblZcPfh1SxT2ab3E/viwhvoFXlmP9gHg58

True Cost Accounting for Food, Farming & Finance (TCA-FFF) (Eosta, Soil & More, EY, Triodos Bank, & Hivos, 2017); https://tca2f.org/wp-content/uploads/2019/11/tca-fff-report.pdf

A Roadmap for True Pricing (True Price, 2019; https://trueprice.org/a-roadmap-for-true-pricing/

Olam International Limited Annual Report 2019 (Olam Group, 2020); https://www.olamgroup.com/content/dam/olamgroup/investor-relations/ir-library/annual-reports/annual-reports-pdfs/olam-annual-report-fy19_strategy_report.pdf#page=137

Social Impact of Meat Extended Shelf Life Solutions: Corbion Learning Journey (Product Social Impact Assessment Partnership, 2019); https://product-social-impact-assessment.com/wp-content/uploads/2021/01/19-001-Pre-Corbion-Case-RT-product-social-metrics-2019_25_09-1.pdf

Fitzpatrick, I. et al. The Hidden Cost of UK Food (Sustainable Food Trust, 2019); https://sustainablefoodtrust.org/wp-content/uploads/2013/04/Website-Version-The-Hidden-Cost-of-UK-Food.pdf

White, S. A TEEBAgriFood Analysis of the Malawi Maize Agri-food System (Future of Food, 2019); https://futureoffood.org/wp-content/uploads/2021/01/GA_TEEB_MalawiMaize201903.pdf

Baltussen, W. et al. Valuation of Livestock Eco-Agri-Food Systems: Poultry, Beef and Dairy: Executive Summary (Wageningen University & Research, 2016); https://research.wur.nl/en/publications/valuation-of-livestock-eco-agri-food-systems-poultry-beef-and-dai-2

Pharo, P. et al. Growing Better: Ten Critical Transitions to Transform Food and Land Use (Food and Land Use Coalition, 2019); https://www.foodandlandusecoalition.org/wp-content/uploads/2019/09/FOLU-GrowingBetter-GlobalReport.pdf

Ritchie, H. & Roser, M. Environmental Impacts of Food Production (OurWorldInData, 2020); https://ourworldindata.org/environmental-impacts-of-food

Notarnicola, B. et al. Environmental impacts of food consumption in Europe. J. Clean. Prod. 140, 753–765 (2017).

Dixon, J. & Gulliver, A. Farming Systems and Poverty: Improving Farmers’ Livelihoods in a Changing World (World Bank, 2001); https://documents.worldbank.org/en/publication/documents-reports/documentdetail/126251468331211716/farming-systems-and-poverty-improving-farmers-livelihoods-in-a-changing-world

Draft TEEB for Agriculture and Food: Operational Guidelines for Business (Capitals Coalition, 2020); https://capitalscoalition.org/wp-content/uploads/2020/08/DRAFT-TEEBAgriFood-Operational-Guidelines.pdf

Lord, S. Valuing the Impact of Food: Towards Practical and Comparable Monetary Valuation of Food System Impacts (FoodSIVI, 2020); https://foodsivi.org/wp-content/uploads/2020/06/Valuing-the-impact-of-food-Report_Foodsivi.pdf

TEEB for Agriculture & Food: Scientific and Economic Foundations Report (The Economics of Ecosystems and Biodiversity, 2018); http://teebweb.org/wp-content/uploads/2018/11/Foundations_Report_Final_October.pdf

Connecting Finance and Natural Capital: a Supplement to the Natural Capital Protocol (Capitals Coalition, 2018); https://capitalscoalition.org/guide_supplement/finance-sector-supplement/

Natural Capital Protocol – Apparel Sector Guide (Capitals Coalition, 2016); https://capitalscoalition.org/guide_supplement/apparel-sector-guide/

Rusman, A. et al. Cocoa Farmer Income: the Household Income of Cocoa Farmers in Côte d’Ivoire and Strategies for Improvement (Impact Institute, 2018); https://www.impactinstitute.com/wp-content/uploads/2018/10/Cocoa-farming-income-Fair-trade.pdf

Fobelets, V., Rusman, A. & de Groot Ruiz, A. Assessing Coffee Farmer Household Income (Impact Institute, 2017); https://www.impactinstitute.com/wp-content/uploads/2018/05/Assessing_Coffee_Farmer_Household_Income_Report_2017_updated.pdf

Pigou, A. The Economics of Welfare (Macmillan, 1924).

Marshall, A. Principles Of Economics edn 8 (Macmillan, 1920).

Serafeim, G., Zochowski, T. R. & Downing, J. Impact-Weighted Financial Accounts: the Missing Piece for an Impact Economy (Harvard Business School, 2019); https://www.hbs.edu/impact-weighted-accounts/Documents/Impact-Weighted-Accounts-Report-2019_preview.pdf

Essential Guide to Natural and Social Capital Accounting (Accounting for Sustainability, 2016); https://www.accountingforsustainability.org/en/knowledge-hub/guides/Natural-social-capital.html

Stiglitz, J. E., Fitoussi, J. & Durand, M. Beyond GDP: Measuring What Counts for Economic and Social Performance (OECD, 2018); https://www.oecd-ilibrary.org/economics/beyond-gdp_9789264307292-en

B Impact Assessment (B Analytics, 2021); https://bimpactassessment.net/

Framework for Inclusive Capitalism (Coalition for Inclusive Capitalism, 2021); https://www.coalitionforinclusivecapitalism.com/wp-content/uploads/2021/02/The-Framework-for-Inclusive-Capitalism-1.pdf

The (Sustainable) Business Case for Natural Capital Valuation (Cambridge Institute for Sustainability Leadership, 2013); https://www.cisl.cam.ac.uk/resources/publication-pdfs/sabmiller-summary-nov-2013.pdf/view

Bass, R. et al. Methodology for Standardizing and Comparing Impact Performance (Global Impact Investing Network, 2020); https://thegiin.org/assets/Methodology%20for%20Standardizing%20and%20Comparing%20Impact%20Performance_webfile.pdf

Impact Valuation (GIST Advisory, 2021); https://www.gistimpact.com/impactvaluation

How Investors Manage Impact (Impact Management Project, 2021); https://impactmanagementproject.com/impact-management/how-investors-manage-impact/

Barbier, E. B. et al. Inclusive Wealth Report 2018 (UN Environment Programme, 2018); https://www.unep.org/resources/report/inclusive-wealth-report-2018

Framework for Impact Statements (Impact Institute, 2019); https://www.impactinstitute.com/framework-for-impact-s

Integrated Reporting (International Integrated Reporting Council, 2021); https://integratedreporting.org/wp-content/uploads/2021/01/InternationalIntegratedReportingFramework.pdf

ISO 14040:2006: Environmental Management — Life Cycle Assessment — Principles and Framework (International Organization for Standardization, 2006); https://www.iso.org/standard/37456.html

Natural Capital Protocol (Natural Capital Coalition, 2016); http://www.naturalcapitalcoalition.org/protocol

Net Positive Methodology (Net Positive Project, 2019); https://static1.squarespace.com/static/5af56b9436099b397b0c0ec7/t/5c5d626d652deab29331e6c8/1549623920191/Net+Positive+Project_User+Guide_Jan+2019_Slides+for+Web.pdf

Noble, J., O’Flynn, P. & Kazimirski, A. Understanding Impact: How to Use Your Theory of Change to Develop a Measurement and Evaluation Framework (New Philanthropy Capital, 2020); https://www.thinknpc.org/resource-hub/understanding-impact/

Serafeim, G. & Trinh, K. A Framework for Product Impact-Weighted Accounts (Harvard Business School, 2020); https://www.hbs.edu/faculty/Pages/item.aspx?num=57580

Measuring the Social Impact of Corporate Investments: Social Impact Measurement Model (Deloitte, 2021); https://www2.deloitte.com/us/en/pages/consulting/solutions/corporate-social-impact-measurement-metrics.html

Social & Human Capital Protocol (Capitals Coalition; 2019); https://capitalscoalition.org/capitals-approach/social-human-capital-protocol/

Nicholls, J. et al. A Guide to Social Return on Investment (Social Value UK, 2012); https://socialvalueuk.org/resource/a-guide-to-social-return-on-investment-2012/

Ecosystem Accounting (System of Environmental Economic Accounting, 2021); https://seea.un.org/ecosystem-accounting

Assessing Your Total Impact (PwC, 2015); https://www.pwc.co.uk/services/sustainability-climate-change/total-impact.html

Total Value: Impact Valuation to Support Decision-Making (EY, 2016); https://tca2f.org/wp-content/uploads/2019/09/ey-total-value-impact-valuation-to-support-decision-making.pdf

TruCost’s Valuation Methodology (TruCost, 2015); https://gabi.sphera.com/fileadmin/GaBi_Databases/Thinkstep_Trucost_NCA_factors_methodology_report.pdf

Principles for True Pricing (True Price, 2020); https://trueprice.org/principles-for-true-pricing/

A New Vision of Value: Connecting Corporate and Societal Value Creation (KPMG, 2014); https://assets.kpmg/content/dam/kpmg/pdf/2014/10/a-new-vision-of-value-v1.pdf

WICI Intangibles Reporting Framework (World Intellectual Capital/Assets Initiative, 2016); https://www.wici-global.com/wirf/WICI_Intangibles_Reporting_Framework_v1.0.pdf

Impact Statement General Paper (Value Balancing Alliance, 2021); https://www.value-balancing.com/_Resources/Persistent/2/6/e/6/26e6d344f3bfa26825244ccfa4a9743f8299e7cf/20210210_VBA%20Impact%20Statement_GeneralPaper.pdf

de Adelhart Toorop, R. & de Groot Ruiz, A. Integrated Profit & Loss Assessment Methodology (IAM) (Impact Institute, 2020); https://www.impactinstitute.com/ipl-assessment-methodology/

Principles of Integrated Capitals Assessment (Capitals Coalition, 2021); https://capitalscoalition.org/wp-content/uploads/2021/01/Principles_of_integrated_capitals_assessments_final.pdf

Impact Report 2020 (ABN AMRO, 2021); https://assets.ctfassets.net/1u811bvgvthc/7imjY5fyavgsH2nwwjH2I5/236210cbd95ee42592e864c8fbcefa64/ABN_AMRO_____Impact_Report_2020.pdf

Measuring and Managing Total Impact: a New Language for Business Decisions (PwC, 2013); https://www.pwc.com/gx/en/sustainability/publications/total-impact-measurement-management/assets/pwc-timm-report.pdf

Rusman, A. et al. The True Cost of Cocoa: Tony’s Chocolonely 2018 Progress Report (True Price, 2018); https://trueprice.org/wp-content/uploads/2018/11/The-True-Price-of-Cocoa.-Progress-Tonys-Chocolonely-2018.pdf

Social and Human Capital Accounting (Accounting for Sustainability, 2017); https://www.accountingforsustainability.org/en/knowledge-hub/guides/social-and-human-capital.html

Galgani, P. et al. Monetization Factors for True Pricing (True Price, 2020); https://trueprice.org/monetisation-factors-for-true-pricing/

Serafeim, G. & Trinh, K. Accounting for Product Impact in the Airlines Industry (Harvard Business School, 2020); https://www.hbs.edu/impact-weighted-accounts/Documents/Accounting%20for%20Product%20Impact%20in%20the%20Airlines%20Industry.pdf

ISO 14044:2006: Environmental Management — Life Cycle Assessment — Requirements and Guidelines (International Organization for Standardization, 2006); https://www.iso.org/standard/38498.html

Nakamura, S. & Nansai, K. in Special Types of Life Cycle Assessment (ed. Finkbeiner, M.) (Springer, 2016).

ISO 14008:2019: Monetary Valuation of Environmental Impacts and Related Environmental Aspects (International Organization for Standardization, 2019); https://www.iso.org/standard/43243.html

Sticky Money: Recognising the Total Value Created by Australian Co-operatives and Mutuals (EY, 2014); https://www.aph.gov.au/DocumentStore.ashx?id=56a327ad-8349-41c4-a809-49d9495c17a1&subId=514555

Valuing Our Total Impact - Our Results in Detail (PwC, 2017); https://www.pwc.co.uk/who-we-are/our-purpose/performance/valuing-our-total-impact.html

Eigenraam, M. et al. Applying the TEEBAGRIFOOD Evaluation Framework - Overarching Implementation Guidance (Global Alliance for the Future of Food, 2020); https://futureoffood.org/wp-content/uploads/2021/01/GA_TEEBAgriFood_Guidance.pdf

NPC Case Studies: Impact Management Practice in Youth Employment (Impact Management Project, 2017); https://impactmanagementproject.com/wp-content/uploads/Case-Studies-in-Youth-Employment.pdf

Loughman. E. B Impact Assessment (B Analytics, 2012); https://bimpactassessment.net/case-studies/elissa-loughman

Schaafsma, M. & Cranston, G. E.Valu.A.Te Practical Guide (Cambridge Institute for Sustainability Leadership, 2013); https://www.cisl.cam.ac.uk/resources/publication-pdfs/evaluate-practical-guide-nov-2013-new.pdf

Impact Statement Focus: Environment (Value Balancing Alliance, 2021); https://www.value-balancing.com/_Resources/Persistent/8/a/f/f/8aff8d622d5a09f9af18a062a71b9a3201f2ea3e/20210302_VBA%20Method_paper_Environmentals.pdf

Value-to-Society: Measurement and Monetary Valuation of BASF’s Impacts in Society (BASF, 2018); https://www.basf.com/global/en/who-we-are/sustainability/we-drive-sustainable-solutions/quantifying-sustainability/value-to-society.html

KPMG True Value Case Study: Volvo Group (KPMG, 2015); https://assets.kpmg/content/dam/kpmg/pdf/2015/10/volvo-group-kpmg-true-value-case-study.pdf

Gundimeda, H. Application of the TEEBAgriFood Evaluation Framework to the Wheat Value Chain in Northern India (TEEB, 2019); http://teebweb.org/wp-content/uploads/2020/12/Application-of-the-TEEB-Agrifood-framework-to-the-wheat-value-chain-in-Northern-India-LC-FINAL.pdf

Kurth, T. et al. The True Cost of Food (BCG, 2020); https://www.bcg.com/publications/2020/evaluating-agricultures-environmental-costs

Brander, L. & Schuyt, K. Benefits Transfer: the Economic Value of World’s Wetlands (TEEB, 2010); http://www.teebweb.org/wp-content/uploads/2013/01/The-economic-value-of-the-worlds-wetlands.pdf

La Notte, A. et al. Physical and Monetary Ecosystem Service Accounts for Europe: a Case Study for In-Stream Nitrogen Retention (SEEA, 2017); https://seea.un.org/content/physical-and-monetary-ecosystem-service-accounts-europe-case-study-stream-nitrogen-retention

Hoekstra, R. Replacing GDP by 2030: Towards a Common Language for the Well-Being and Sustainability Community (Cambridge Univ. Press, 2019).

Measuring and Managing Total Impact: Strengthening Business Decisions for Business Leaders - Food & Beverage Scenario (PwC, 2017); https://www.pwc.com/gx/en/services/sustainability/total-impact-measurement-management/measuring-and-managing-total-impact-strengthening-business-decisions-for-business-leaders-food-and-beverage-scenario.html

MN: GIIN Initiative for Institutional Impact Investment (Global Impact Investing Network, 2018); https://thegiin.org/mn

Social Impact Measurement Model (SIMM) Case Study: Predicting Changes in Social Metrics in Huntsville, Alabama (Deloitte, 2019); https://www2.deloitte.com/content/dam/Deloitte/us/Documents/process-and-operations/us-cons-social-impact-measurement-model-infographic.pdf

Varoucha, E. et al. Guide for Funders to Assess and Value Impact (Impact Institute, 2020); https://www.impactinstitute.com/guide-for-funders-to-assess-and-value-impact/

Natural Capital Protocol - Food and Beverage Sector Guide (Natural Capital Coalition, 2016); https://naturalcapitalcoalition.org/wp-content/uploads/2016/09/NCC_FoodAndBeverage_WEB_2016-07-12.pdf

Wang, P. et al. Estimates of the social cost of carbon: a review based on meta-analysis. J. Clean. Prod. 209, 1494–1507 (2019).

Freiberg, D. et al. Accounting for Organizational Employment Impact (Harvard Business School, 2020); https://www.hbs.edu/impact-weighted-accounts/Documents/Accounting%20for%20Organizational%20Employment%20Impact_HBS%20Working%20Paper.pdf

IFRS Foundation Trustees Announce Next Steps in Response to Broad Demand for Global Sustainability Standards (IFRS, 2021); https://www.ifrs.org/projects/work-plan/sustainability-reporting/

El-Hage Scialabba, N. & Obst, C. in True Cost Accounting for Food: Balancing the Scale (eds Gemmill-Herren, B. et al.) (Routledge, 2021).

Watson, B. The troubling evolution of corporate greenwashing. The Guardian (20 August 2016); https://www.theguardian.com/sustainable-business/2016/aug/20/greenwashing-environmentalism-lies-companies

Baldock, C. et al. Yarra Valley Water Integrated Profit and Loss (IP&L) Report (Yarra Valley Water, 2016); https://media-2.yvw.com.au/inline-files/Yarra%20Valley%20Water%20IPL_November%202016_v2_0.pdf

The Natural Capital Coalition and the Social & Human Capital Coalition Unite as the Capitals Coalition (Capitals Coalition, 2020); https://capitalscoalition.org/the-natural-capital-coalition-and-the-social-human-capital-coalition-unite-as-the-capitals-coalition/