Eosta is said to be the first participant in the “True Cost Accounting in Finance, Food and Farming” pilot program to be accounted on a company level with true cost accounting (TCA), up to and including the balance sheet and profit and loss account. 

“Thanks to the fantastic work of UN departments such as FAO, but also WHO, UNEP and UNDP, we have access to monetization templates that help not only define the impact of food production on soil fertility, climate change, water quality, biodiversity and livelihoods, but also monetize the impact,” says Volkert Engelsman, chief executive officer for Eosta. “We’ve done that work on a farming and food level, and we will now move ahead and apply it to our balance sheets and profit and loss accounts, meaning as well as reporting to financial stakeholders, we will also report to natural and social capital stakeholders. As a small to medium-sized enterprise, we can move fast, but what we want to avoid is that this initiative dies in splendid isolation – we want it to be scaled up, which is why we have embedded it in the context of the Natural Capital Coalition’s Natural Capital Protocol. We hope to combine the change leadership power of small to medium-sized enterprises and banks, like Eosta and Triodos, with those players who have the ability to scale up the initiative once the first results have been delivered.”

This article was originally posted on www.refrigeratedfrozenfood.com.