Sustainability measurement and reporting for the CFO
Eviota - the case of the music and film industry
Abstract
Reprex will organize events on the International Open Data Day. Save the date in your calendar.
The Eviota project aims to create sustainability reports connected to the financial accounts of companies, NGOs, and civil society actors. The first phase concentrates on greenhouse gases and air pollutants. We want to create reliable estimates of the carbon and other pollutants footprint of music-related (social) enterprises based on their spending (“connected financial and sustainability reporting”.)
- 16:30: Meet and greet
- 17:00: Short presentation
- 17:15: Discussion of your reporting
The discussion will be based on the accounting documents sent to us in advance. We will create a first version of a simplified sustainability report about your music or film company (for profit, or non-profit.) we will not share any financial information in the meetup, only visualizations of risk heatmaps, and common reporting and sustainability problems.
Why connect to your accounting software?
The accounting system already records all those economic events that may have an impact on how your company, directly or indirectly, causes greenhouse gas emissions, uses precious water, or may help to close (or, accidentally, widen) the gender pay gap.
As soon as the modification of the EU accounting directive take effect, you will have to connect your financial accounts to your sustainability reporting.
- No extra management time is needed: it is already recorded by every company’s accountant. The general ledger is recorded by your accountant. We start from the annual summary of supplier and buyer ledgers, or the trial balance that has this information.
- It is not subjective. It states exactly what you were spending on.
- It is more or less standardized across Europe—and almost all countries of the world, with the exception of the U.S. and some other countries. It is easy to reconcile with US GAAP based documents.
- We need to use the same working document that your accountant uses to maintain an important objectivity criterion: connectivity.
This way your annual report will be consistent, if you say in the financial part that you spend 1000 euro on energy, then we will calculate the greenhouse gas emissions based on KWh volume of the the energy that cost you 1000 euros.
Daniel Antal
Co-founder
MusicAIRE
MusicAIRE is an EU-funded project that will contribute to the recovery of the music ecosystem.