Intrinsic Exchange Group Collaboration
The Responsible Business Center at the Gabelli School of Business has entered into a licensing agreement with Intrinsic Exchange Group (IEG) to establish reporting and accounting standards for natural capital.
While awareness and market acceptance for nature as an asset class are growing, a significant barrier has been the lack of reliable, comparable, consistent, and globally recognized standards. Through this agreement, the Center and IEG seek to accelerate the pace of progress underway at other standard-setting organizations. The Center will host, develop, maintain, and oversee new global reporting standards that are based on the Ecological Performance Reporting Framework developed by IEG for valuing natural assets. The long term goal is to transition the standards to globally recognized standard-setters in the U.S. and internationally.
“Our collaboration with IEG, which establishes an independent structure to oversee ecological performance reporting, is an important step in the development of and marketplace acceptance for natural capital as an asset class,” said Tim Hedley, executive in residence at the Gabelli School of Business. “We see a clear path to incorporate the best practices of the IEG-developed framework into a consistent, robust, and globally accepted accounting and reporting standard in the U.S. and internationally.”
“It’s been said that accounting is the language of business. To thrive as an asset class, natural capital needs a new language that investors can understand and rely upon,” said Douglas R. Eger, CEO of Intrinsic Exchange Group. “With oversight of the Ecological Performance Reporting Framework residing in the Gabelli School’s Responsible Business Center, investors, companies, and natural asset owners can have confidence in the integrity and credibility of natural capital reporting.”
For questions regarding the Collaboration and Ecological Performance Reporting Framework, please email Dr. Timothy P. Hedley, [email protected]