Our journey

Our approach has evolved significantly since the publication of our 2013 report.

When we launched our first Total Contribution report in 2013, we wanted to understand and demonstrate the value we create beyond our financial return. At that time we reported against a limited number of indicators across the triple bottom line. They each had different units of measurement (e.g. tonnes of CO2e and m3 of water). We realised that to better understand our value we needed to increase the number of both positive and negative indicators and find a common unit of measurement to provide consistency and a means of comparability.

Working with colleagues across our business and in conjunction with advisors Route2, we have:

  • developed a framework based on the capitals we draw on and the respective capital ‘flows’ (positive and negative) resulting from the activities we undertake.

Capitals

  • increased the number and scope of our indicators, against which we are already collecting data, or will be, as we believe them to be material to our business. The indicators are spread across all capitals and take account of both positive and negative impact; and
  • calculated an economic value for each indicator which provides a means of comparability and enables aggregation and assessment of net impact on our capitals. Our aim has always been to aggregate the year-on-year changes in the values of our capitals for the purpose of developing a Total Contribution performance trend line. We call our methodology ‘adjusted Gross Value Added’ (aGVA).

Methodology

Our approach has the ability to measure the impact we have and has great potential as a decision-making tool.

As Total Contribution is a ground breaking concept, we commissioned PricewaterhouseCoopers (PwC) to provide independent insight on a number of the indicators we use to calculate our Total Contribution. Their insight is structured around assessment of the approach, processes and transparency underpinning our metrics and the basis of calculation we use to determine the economic value.

Insight Report