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- Implementing impact accounting: opportunities and challengesPublication . Conde, Sofia; Ferreira, Nuno; Lancastre, FilipaThis research note explores the opportunities and challenges involved in the implementation of Impact Accounting (IA). Based on interviews with practitioners and secondary sources, the study finds that while IA remains in an early phase, leading organizations increasingly view it as a strategic tool to inform resource allocation, generate differentiation and leadership, clarify trade-offs, enhance transparency and stakeholder communication, improved data comparability and relevance and complement ESG reporting frameworks, such as the European Sustainability Reporting Standards (ESRS). Nevertheless, IA faces some difficulties, such as its still limited adaptation, mainly due to challenges around data availability, methodological inconsistency, and operational complexity. To overcome these barriers, companies are piloting IA on a small scale, improving internal data systems, and aligning impact valuation with existing ESG data. Participation in standard-setting initiatives, such as the Value Balancing Alliance, is helping address the lack of methodological convergence, while internal use cases, such as scenario analysis and product-level insights, are building confidence and utility. In the absence of regulatory mandates, IA adoption is being driven by leadership ambition and peer influence. As data infrastructure improves and methodologies mature, IA has the potential to move beyond internal experimentation and become a critical tool for aligning financial performance with long-term societal value.
- State of the art of non-financial reporting and impact accountingPublication . Conde, Sofia; Ferreira, Nuno; Lancastre, FilipaNon-financial reporting has become a global norm, with regulatory and societal pressure driving companies to disclose their sustainability performance. Since early 2024, over 250 firms have reported under the EU's Corporate Sustainability Reporting Directive (CSRD), reflecting a broader shift toward mandatory ESG disclosures. Today, 95% of the world's largest companies publish sustainability reports, and over half have a sustainability director. ESG reporting, rooted in CSR efforts since the 1950s and formalized by the UN in 2004, has evolved through global frameworks such as GRI, ISSB, and the EU's ESRS. While these standards promote transparency and long-term value creation, challenges remain, including fragmentation, limited outcome measurement, and greenwashing concerns. A promising development is impact accounting, an emerging approach that monetizes environmental and social externalities to reveal a company's full value creation. It translates non-financial data into financial insights, promising better decisions and strengthening stakeholder trust. The field is advancing rapidly, led by organizations like IFVI, VBA, and IEF, with support from global coalitions and initiatives. Through collaborative efforts such as the Value Accounting Network, actors are building the foundations for consistent, rigorous, and actionable sustainability measurement, marking a critical shift toward impact-integrated business and financial systems.
- IFVI and VBA’s impact accounting methodology: implementation guidePublication . Conde, Sofia; Ferreira, Nuno; Lancastre, FilipaThis research note presents the methodological foundations and practical implementation framework of the Impact Accounting (IA) methodology developed by the International Foundation for Valuing Impacts (IFVI) and the Value Balancing Alliance (VBA). It explains how this approach enables companies to measure, value, and report their impacts on society and the environment in monetary terms, bridging the gap between sustainability disclosure and business decision-making. The note outlines a five-phase development process that ensures scientific rigor, expert validation, and stakeholder legitimacy for each impact topic. It then details a six-step implementation framework that guides companies through context analysis, material impact identification, data collection, outcome assessment, impact valuation, and aggregation into unified impact accounts. Crucially, the methodology is designed for straightforward implementation. When a value factor validated by the Valuation Technical & Practitioner Committee (VTPC) is available, companies simply multiply their existing data points, often those already reported under the CSRD, by the corresponding value factor. This eliminates the need for complex modeling or outcomes definition, making impact accounting both practical and scalable. By combining robust valuation techniques and standardized value factors, the IFVI and VBA methodology provides a clear, comparable, and decision-useful tool for embedding impact accounting in corporate strategies. It enables organizations to move beyond compliance-driven sustainability reporting and toward impact-driven decision-making, creating measurable value for both business and society.
- Relatório anual 2024: observatório dos ODS nas empresas portuguesasPublication . Cantarino, N.; Beltrão, P.; Zani, A.; Sarmento, M.; Lucas, A.
- Relatório anual 2023: observatório dos ODS nas empresas portuguesasPublication . Almeida, F. Pires de; Cantarino, N.; Borges, A.; Lucas, A.; Sarmento, M.; Estronca, C.
- Relatório de sustentabilidade: incorporação e comunicação estratégica dos ODSPublication . Cantarino, NatáliaSustainability Reports have become a critical tool for companies to communicate their sustainability strategies, initiatives, and progress. With the rising importance of sustainable business practices, the introduction of the Corporate Sustainability Reporting Directive (CSRD) has established new reporting standards and requirements, significantly affecting companies that operate or have business relations in the European Union. This research note aims to explore the relevance of these reports, the new reporting context introduced by the CSRD, the importance of reporting the Sustainable Development Goals (SDGs), and how companies can integrate them into their reports. Additionally, it offers practical guidelines and examples for successfully incorporating the SDGs into Sustainability Reports, enabling companies to align their actions with the objectives of the 2030 Agenda.
- Responsible leadership what does it consist of and what is the path for Portugal?Publication . Cruz, Nuno Moreira da; Saldanha, Maria Francisca; Monteiro, Isabel; Estronca, CarolinaWith the support of Fundação Magnum Gaudium and BPI Fundação "la Caixa", the CRB has launched the research "Responsible Leadership: what does it Mean and the Future for Portugal" in November 2022. The study encompasses a systematic literature review, a questionnaire that includes two samples based in Portugal and one in the USA, and a qualitative study that includes 15 interviews with Portuguese leaders from different companies. The study concludes that, despite the barriers identified, responsible leadership is the most correct and viable way to ensure the company's long-term survival. Companies without purpose and values, where the only concern is profitability, risk failing in the long term unless they take the initiative to change how they conduct their business. This study aims to contribute to a better understanding of what identifies a "responsible leader" from both academic and practical perspectives and to help organizations to reflect on their leadership styles and what should be done to ensure that Responsible Leadership prevails.
- Relatório anual 2022: observatório dos ODS nas empresas portuguesasPublication . Almeida, Filipa Pires de; Cantarino, Natália; Sarmento, Mafalda; Sanches, Marta; Lucas, AngelaThe first annual report of the Observatory of the SDGs in Portuguese Companies assesses the implementation of the SDGs by the Portuguese private sector. It also presents an analysis of the Portuguese context, followed by the development of a theoretical framework, and the study of 60 of the largest companies operating in the Portuguese economy, as well as 103 SMEs.
- Case study: the strategic implementation of the SDGs at EfacecPublication . Almeida, Filipa Pires de; Cantarino, Natália; Sarmento, MafaldaThis case study results from a project conducted by the Center in close collaboration with Efacec, a Portuguese company with global operations in the energy, mobility, and environment sectors. The main goal of the project was to support the organization in choosing and implementing the Sustainable Development Goals (SDGs) along its core strategy and business operations. This case study describes the processes undertaken to achieve these outcomes and was developed with the goal of supporting students and other companies better comprehend the hurdles, benefits, and cutting-edge strategies to bring the 2030 Agenda to the center of organizational strategy while creating economic, social and environmental value for its stakeholders. It also encompasses a teaching note that aims to develop further knowledge and critical thinking around the questions that arise during the implementation of the project, focusing on discussing the main learnings of this process.
- Mental health in the workplace: a state of art and guidelines for actionPublication . Sintra, José; Carvalho, Catarina; Guerra, Maria GarciaThe Research Note on Mental Health at work aims to contribute to the literature by exploring the historical evolution of the problem, how it affects individual and organizational performance and bottom line, and providing a business case for action that mobilizes organizations around a shared purpose of better workplace health and wellbeing.