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News Release, January 2018 Clean Technologies and Sustainable Growth Issue 4. Assessing Business Contributions to the Country Development

In most cases, stakeholders face difficulties in assessment in practice, because traditional indicators of financial sustainability measure only the company’s direct contribution to the economy of the country (for example, taxes, number of created jobs at the enterprise). However, there are methodologies that allow for analysing not only the direct contribution of the company, but also its impact on suppliers and contractors (indirect contribution), as well as on consumers (indirect contribution).

The results of such an assessment contribute to more rational decisions, effective planning of investment resources, identifying the needs of stakeholders, improving the risk management system and reputation of the company. In addition, the results of such research can be used in communications with all stakeholders. A modern competitive environment requires the business to continuously change, which would meet high expectations of investors, state and society. It is impossible to meet the needs of key stakeholders without building a sustainable value chain. To assess a full impact of business on the country’s economy, society and environment, the concept of Total Value is increasingly used.

Total Value or total business contribution is an integral indicator of the impact of business that considers all significant performance results — both direct and indirect effects.

The survey of a total value gives companies the opportunity to:

• talk about their positive contribution to the development of the country, citing specific figures and examples;

• negotiate with the government on supporting the development of the industry, emphasising its importance for the economy in terms of GDP, to ensure the employment of people, etc .;

• provide the public with reliable information on the contribution to employment, replenishment of local budgets, and social and environmental issues;

• present themselves to stakeholders as socially responsible organisations.

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