AkzoNobel recently announced it is exploring new ways of increasing business value by piloting a four-dimensional approach. The 4D method, which looks at the whole value chain, is designed to measure both positive and negative environmental, human, social, and financial impacts. Already piloted at the company’s Pulp and Performance Chemicals business in Brazil, the approach has reportedly been confirmed by project partner True Price as the first of its kind to be published.
Six sites in Brazil participated in the pilot, which took place last year. The findings, which were analyzed in cooperation with sustainability research organization True Price and economist Pavan Sukhdev, are being used to make relevant improvements.
“We wanted to push the boundaries of our impact assessment and develop a deeper understanding of our influence across the whole value chain,” said Ton Büchner, CEO. “By attaching an economic value to the positive and negative aspects of each dimension, we can gain valuable insights into how we can drive longer term value not only for our shareholders, but also for the environment, people and society at large. In addition, the results will inform our strategic decision-making and provide further momentum for our ongoing efforts to do more with less.”
“A 4D method such as this is the future of integrated thinking and reporting,” said Adrian de Groot Ruiz, executive director of True Price. “Companies can use it internally to shape innovations and strategies that create shared value for shareholders and society.”
For more information, visit www.akzonobel.com.