Recap
The first session on our SPOTLIGHT: Policy & Stakeholder Dialog "From EBIT 2 SEBIT – How to incorporate the planetary boundaries into chemistry business" was presented by Professor Stephan Haubold, who is a Professor for Business Chemistry at Hochschule Fresenius University of Applied Sciences. The session was moderated by Janina Haubenreißer (ISC3).
The session unveiled a new approach for integrating science-based climate targets into business accounting through the innovative framework, called DATA. DATA is a cost-based approach transforming science-based targets into monetary values and sustainable earnings before interest and taxes (SEBIT). It comprises four steps: Define (set goals and KPIs), Assess (measure sustainability and impact), Transform (convert data into indicators and money), and Account (integrate findings into accounting). Notably, DATA can be readily implemented without the need for complex definitions regarding the value and utility of indicators.
The session enhanced the importance that businesses must operate within planetary boundaries. For companies and individuals seeking guidance, Prof Haubold announced an upcoming paper in summer 2023. Interested parties are encouraged to reach out for further details to Prof Haubold and consider participating in case studies by his Ph.D. students. The ISC3 team is happy to connect interesting parties with Prof Haubold and its team. Please reach out to contact@isc3.org. This mindblowing session showcased the importance of rethinking value for a sustainable future and the transformation towards sustianable finance.
