BMW presents SRI/IZT’s Sustainable Value research in their 2005/2006 Sustainability Report
BMW, the German car manufacturer, has published its new 2005/2006 Sustainability Report on September 13th 2005. BMW recognises the need to measure sustainability. According to BMW «only measurable sustainability progress can be managed efficiently. That is why the BMW Group examines different methods of assessing sustainability quantitatively. In a dialogue and in cooperation with scientists outside the Company, a model for measuring sustainability was refined and adapted for corporate practice in the BMW Group.» (BMW Sustainable Value Report 2005/2006, p. 11).
The Sustainable Value Approach, developed by researchers of the Sustainability Research Institute and Berlin-based Institute for Futures Studies and Technology Assessment (IZT), allows expressing and managing sustainability performance in monetary terms. It is the first approach worldwide to follow a value-oriented logic using opportunity costs (as opposed to the burden-oriented approaches based on burdens, damage costs and similar).
BMW’s Sustainability report dedicates two pages to the Sustainable Value approach. BMW concludes: «The importance and attractiveness of the approach in practice lies in the new scientific method which builds a bridge between value orientation and sustainability. The main advantage for companies is that the Sustainable Value presents sustainability success
like economic success. This also helps, for example, SRI (Socially Responsible Investment) investors in their analysis. In the medium to long term, the Sustainable Value could become the basic element of a sustainability audit.» (BMW Sustainable Value Report 2005/2006, p. 17).
For more information contact Frank Figge at SRI (Tel: +44-113-343 72 47, email@example.com) or Tobias Hahn at IZT (Tel: +49-30-803088-24, firstname.lastname@example.org).