Even though there is growing guidance available at the national and supranational level and increasing convergence among standard setters, the business application of social and human capital measurement and valuation is still at an early stage. The long-term aspiration of the Social & Human Capital Coalition is to move to harmonized and comparable techniques for social and human capital measurement and valuation.
To achieve this aspiration, the Coalition will provide a platform to consolidate and harmonize approaches, collate examples and guide businesses to the most current tools, data sources and good practices in relevant techniques. The ongoing application of the Protocol will help the Coalition identify gaps to fill and steer practitioners with common interests to collaborate in advancing current practices.
Over the coming years, the Social & Human Capital Coalition will therefore shape and drive collaborative action to achieve four goals:
• Mobilize: a network of business champions at both the chief executive and operational levels to advocate for implementation and collaboration.
• Socialize: the Social & Human Capital Protocol with the most important practitioners and expert organizations in this space, building a network and community to drive new thinking, global engagement and best practice.
• Harmonize: technical approaches within the Social & Human Capital Protocol by promoting awareness, acceptance and uptake by business, governments and key global platforms.
• Work in partnership with Coalition organizations and other initiatives to enable businesses to capitalize on their implementation of the Social & Human Capital Protocol by supporting the finance community and capital markets to continue to recognize and reward social and human value creation.