Publication / 09 Nov 2016

Yarra Valley Water: Integrated Profit and Loss (IP&L) Report

Australian water utility Yarra Valley Water published the first-ever integrated profit and loss report quantifying its positive and negative natural, social, human and financial impacts in monetary terms.

This work has been driven by Yarra Valley Water’s desire to understand the full value it delivers to society. It forms a key part of its Restorative Strategy which aims to answer questions such as ‘what could we do as a business to add greatest value?’ and ‘how do we contribute towards liveability?’

The scope of the work centered on the positive and negative impacts of Yarra Valley Water’s direct operations in all four capitals. It also analyzed the positive and negative natural capital impacts of the services it purchases from its suppliers. Our approach is to consider “value addition” through a holistic lens: measuring impacts across all capitals, not just financial capital, and across all categories of stakeholders affected – including employees, customers and society at large – and not just its shareholder, the Victorian Government.

The results show that there are significant areas of value creation, as well as areas where value is being degraded. Value is degraded when pollutants are discharged into the environment, waste is sent to landfill, and natural land is converted. Yarra Valley Water creates value when society receives free benefits, such as when water is cleaned and recharged back to the environment, when ecosystem services are provided, or when vulnerable families receive waivers on water utility bill payments. However, delivering societal benefits can incur private costs for Yarra Valley Water.

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