What is EcoMetrics?
What Is EcoMetrics?
EcoMetrics is a methodology that captures the Full Value of a project’s environmental, social and economic impacts in a format that is fully documented, verified, and ready for audit.
Originally developed by Restore the Earth Foundation to document the value created by their restoration initiatives, EcoMetrics, a cloud based technology and methodology, is now a stand-alone offering. It captures the Full Value of a project’s environmental, social and economic impacts, all fully documented, 3rd party verified, and ready for audit. EcoMetrics applied to a variety of project and activity types, and is a reporting framework that companies of all kinds can use.
Today’s visionary corporations and communities understand that there’s a strong business case to be made tor investments in nature- based solutions as part of sustainability initiatives offering superior environmental, financial, and social returns versus conventional “grey infrastructure” projects. Moreover, these returns are experienced directly by the external stakeholders on whom the financial health of a business and the returns to shareholders depend: customers, employees, and members of the communities that the business serves.
Truly sustainable solutions need to have environmental, economic and social benefits. The ability to quantify, and monetize these benefits will maximize investment and commitment towards such solutions. EcoMetrics provides a unique perspective on the full, integrated value of investing in nature based solutions.
The ability to do this is important because it:
- Unlocks the business case by providing return on investment quantification and monetization related to created co-benefits
- Provides a “Rosetta Stone” that translates environmental and social benefits into financial and economic terms, accounting for nature based-solutions in the same context as other investment
- Connects the dots to show how nature based solutions actually bring a series of integrated value to multiple stakeholders
- Ensures efficiency, scalability and acessibility to data with the EcoMetrics secure cloud platform
EcoMetrics provides analysis of three-dimensional returns including:
- Integrated environmental, social and economic value creation to its financial capital, and stakeholders and ‘society at large’
- Quantification of offsets such as carbon, nitrogen, phosphorus, and water
- Leveraged private/public investment cost/benefit analysis
EcoMetrics calculates the value projects create for the company, such as financial and social returns to its financial capital, and company value through mechanisms such as:
- Risk management
- Operational efficiency
- Supply chain management
- Reputation and brand enhancement
- Social license to operate
EcoMetrics is aligned with the following existing methodologies and measurements:
Social Value International (SVI) Framework is the internationally accepted standard for calculating the total impact of business activities on all of a company’s stakeholders — internal and external alike. By employing the SVI Framework to engage stakeholders directly in the assessment process, EcoMetrics produces social return on investment (SROI) evaluations and forecasts that can withstand third-party auditing and scrutiny. The Framework’s seven Social Principles are:
- Involve stakeholders
- Understand what changes
- Value the things that matter
- Only include what is material
- Do not over-claim
- Be transparent
- Verify the result
International Integrated Reporting Council Framework (IIRC), the global coalition of regulators, investors, companies, standard setters, the accounting profession and non-governmental organizations that created a global framework focused on an international standard. It focuses on the creation of integrated value —reports on value creation over time, provides for reporting to internal and external stakeholders. The Principles as defined by IIRC include:
- Strategic focus and future orientation
- Connectivity of information
- Stakeholder relationships
- Reliability and completeness
- Consistency and comparability
EcoMetrics is also aligned with:
- American Carbon Registry (ACR), VCS/Verra, and Climate Action Reserve (CAR) and its Climate Forward Program as the accepted methodologies, protocols and standards to provide assurance of the value of the GHG offsets created on a specific project in the US.
- International Finance Corporation Performance Standards Environment & Social Sustainability promotes sound environmental and social practices, encourages transparency and accountability and contributes to positive development impact.
- Alliance for Water Stewardship’s International Water Stewardship Standard a universal framework for the sustainable use of water that drives, recognizes and rewards good water stewardship performance.