Fronesys promotes Smart Cities impact analysis at the World Bank
Fronesys partner Jyoti Banerjee called for a new approach to integrating together the impacts of cities, which enabled a meaningful assessment of how a city creates value, who creates that value, and for whom that value is created.
Jyoti was speaking at a World Bank Public Sector Integrated reporting conference in Washington DC, where he used Milton Keynes as a case study of a city seeking to grow and create jobs, while facing significant economic, environmental and social constraints. Jyoti’s analysis was based on the work that the Fronesys team is doing in MK:SMART, a Future Cities initiative funded by the Higher Education Funding Council of England (HEFCE) – Fronesys is a member of the MK:SMART consortium.
The World Bank conference was an opportunity for public sector organizations from around the world to come together in a unique initiative designed to help them improve transparency and build trust through Integrated Reporting <IR>. The Public Sector Pioneer Network was launched at the conference by the International Integrated Reporting Council (IIRC) in partnership with the Chartered Institute of Public Finance and Accountancy (CIPFA), and participants will be among the ‘first movers’ in <IR> in the public sector.
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Fronesys founders played influential roles in the development of the integrated reporting movement, a corporate reporting mechanism that now has around two thousand listed companies as its adopters, and which is now part of the mainstream of corporate reporting. So, perhaps, now is as good a time as any for Jyoti Banerjee to look back and assess the outcomes and impacts, as well as the what-might-have-beens, of this new form of corporate reporting.
Oxford University Press has just released a new chapter from the forthcoming Oxford Handbook of Food, Water and Society: Integrating Multi-Capital Thinking in Business Decisions. The new chapter, contributed by Fronesys partner Jyoti Banerjee, explores how we need to change our understanding of value. Here is Jyoti’s account of what you can expect in this new publication.
Jyoti Banerjee, partner at Fronesys, highlights that by adopting the principles of integrated thinking and reporting, universities can move away from a focus on reporting short term financial metrics to a multi-stakeholder approach which offers compelling narratives about their value.