Corporates should factor their cost (or contribution) to society - people and planet - in their financial result and reporting
Harvard Business School has developed a project that helps create a more inclusive and sustainable form of capitalism. The Impact-Weighted Accounts Project stands for the creation of financial accounts that reflect a company’s financial, social, and environmental performance. The purpose is to create accounting statements that transparently capture external impact in what drives decision-making for investors as well as for boards and managers.
The principles of this project are that impact can and should be measured and compared. Transformational change requires that impact measurement is scalable, and to be scalable it needs to be actionable and cost-effective.
On the website, you can find a more detailed description of the project and a research compilation of Impact-Weighted Accounts in practice.