Northumbrian moves reporting beyond purely financial results
Northumbrian Water Group (NWG) stole a march on growing interest in the water sector to value non-financial assets more directly last week when it published a report charting its performance against five types of capital. The report, Our contribution, set out the company’s relationship to financial capital, manufactured capital, natural capital, social capital, and human and intellectual capital.
It used PwC’s Total Impact Measurement and Management framework and advice, and consulted both inside and outside the business in reaching what it cautioned were indicative results. Over the next year, NWG plans to work on more detailed metrics to measure its impacts and their value for society.
NWG’s chief executive, Heidi Mottram (pictured), said: “I believe it has never been more important for businesses to look beyond their immediate performance, impacts and finances, and to recognise their total impact and contribution to the wider economy, environment and society.
“The nature of our business means that we have a massive influence and dependency on the natural environment, the economy and the communities we serve. We embrace this responsibility and recognise that sustainable growth is critical to our business resilience and continued success. This is reflected in our vision to be the national leader in the provision of sustainable water and wastewater services.”